Prenetics
| Company type | Public |
|---|---|
| Nasdaq: PRE | |
| ISIN | KYG722451229 |
| Industry |
|
| Founded | 2014 |
| Founders |
|
| Headquarters | |
Key people | Danny Yeung (CEO)[1] |
| Website | prenetics |
Prenetics (NASDAQ:PRE) is a health sciences company headquartered in Hong Kong, with a presence in the United States. It focuses on early detection, prevention, and treatment of diseases, particularly cancer.
Its subsidiary brands include CircleDNA, Insighta and IM8.
Company
[edit | edit source]One of the company's major investors was Alibaba founder Jack Ma.[2]
After listing, it struggled to turn a profit.[3][4] In October 2023 it announced a 1 for 15 reverse stock split so it could regain the stock exchange's required US$1 per share stock price.[5]
Prenetics became the first Hong Kong based unicorn to list on Nasdaq following a merger with a Special-purpose acquisition company Artisan Acquisition Corp.[6][7]
Products and brands
[edit | edit source]Subsidiary CircleDNA focuses on disease prevention rather than genealogy, launching a rapid DNA-based colon cancer screening product in 2016.[8] In 2019 it launched a line of at-home tests to be sold through retailers in Asia.[9]
In 2023, Prenetics announced a $200 million joint venture with the Chinese University of Hong Kong and molecular biologist Dennis Lo to launch DNA testing for several major diseases and cancers: a project called Insighta.[10][11][12] The early detection cancer test, Presight, was expected to begin clinical trials in 2024.,[12] although as of 2025 no clinical trials have been announced.
In 2024, Prenetics partnered with investor David Beckham to form a new wellness brand, IM8.[13]
COVID-19
[edit | edit source]Prenetics was one of three companies selected to provide testing support to the Hong Kong government.[2][14]
The company's UK operation provided COVID-19 testing to the Premier League to help them restart football amid the pandemic.[15][16] As part of so-called "project restart" the company hired former FIFA player Rio Ferdinand to reassure players about the safety of the plan.[17] Around the same time, the company also launched pop-up testing sites.[18]
References
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