As the word itself says, biotechnology is simply technology based on biology. It uses the knowledge of cellular and biomolecular processes to develop technologies that improve our lives and overall health of the planet that is only our home. This technology is being developed with the aim to reduce rates of infectious diseases, save lives, lower the odds of life-threatening diseases affecting the world’s population, customize patient treatments to increase the odds of success and lower the odds of side-effects as well as to create precise tools for early disease detection. Such a tool has been developed by a molecular genetics diagnostic company is Mainz Biomed N.V. (NASDAQ: MYNZ) that specializes in the early detection of cancer.
Mainz Biomed’s flagship product is the first DNA-based screening test for colorectal cancer in Europe. ColoAlert uses PCR-based molecular genetics testing for specific DNA tumor markers along with proprietary mRNA biomarkers for early CRC and AA detection. It’s not an overstatement to say that with ColoAlert, Mainz Biomed made history for developing this blockbuster test. Mainz Biomed already launched this groundbreaking test in Germany and Romania, the latter of which has the highest CRC incidence rates in Europe. In Romania alone, the potential market for ColoAlert consists of 9.2 million individuals who are aged over 40 and therefore equates to 9.2 million tests per year. Mainz Biomed is also developing a proprietary genetic testing methods for pancreatic cancer which is named PancAlert.
Mainz Biomed CFO Bill Caragol is currently attending JonesTrading 2023 Healthcare Summit which kicked off yesterday and will last until October 11th , 2023 in Miami Beach, Florida. Mainz Biomed will also be presenting the better-than-expected results of its ColoFuture study at the 4th International Conference on Gastroenterology that will be taking place from October 16th to October 18th in Paris. The study that Mainz Biomed conducted involves a multi-center international clinical trial that has assessed the potential to integrate a portfolio of novel gene expression (mRNA) biomarkers into ColoAlert®.
Big Pharma To Transform Into BioPharma?
Back in July, Pfizer Inc (NYSE: PFE) invested $25 million in exchange for a minority stake in Caribou Biosciences (NASDAQ: CRBU). This small biotechnology firm is only the lates to attract the pharmaceutical giant's interest as Pfizer made several deals over the last few years with the financing it gathered from selling the much-needed COVID-19 products. Caribou Biosciences is a cell therapy developer who uses CRISPR genome editing. With the financial boost it received from Pfizer, it said it will be advancing an experimental cell therapy that was being tested in blood cancer patients. Last year, Pfizer also invested another $25 million in another biotech company, Akero Therapeutics Inc (NASDAQ: AKRO) that is developing a drug that treats a type of fatty liver disease.
Moderna Inc (NASDAQ: MRNA) who finally entered the spotlight during the COVID-19 era is both a pharmaceutical and biotechnology company that focuses on RNA therapeutics, mostly mRNA vaccines. Its mission is to make biotech history. As Moderna explains, mRNA is not new technology, but the industry is discovering new ways to use it to treat and prevent disease. On October 4th, Moderna reported positive Phase 1/ 2 data from its combination vaccine against both Influenza and Covid-19. Moderna will be beginning Phase 3 trial of its mRNA-1083 in adults aged 50 and above. In over a decade of its existence, Moderna grew from a research stage company to an establishment who owns a diverse portfolio of vaccines and therapeutics that span across seven modalities, along with its broad intellectual portfolio. Moderna got on the map with the power of mRNA technology that promises to transform the pharmaceutical and medical industry and hopefully, improve health and lives across the globe.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.