Mainz Biomed’s colorectal cancer detection test revenue up 108% for half year 2023

Mainz Biomed’s colorectal cancer detection test revenue up 108% for half year 2023

August 16, 2023 Off By Dino Mustafić

Mainz Biomed has reported half year results, in which the main point was expanding international commercialization for its colorectal cancer detection test, ColoAlert, which in turn has seen revenues for the first six months of 2023 at $499 049, representing an increase of 108% compared to the first half of 2022.

The company has increased selling of ColoAlert, its DNA-based detection test for colorectal cancer (CRC) in Poland, Portugal, and Romania while growing its network of laboratory partnerships in established markets across Europe in Q2 as well as post-period.

The company has also reported growing corporate health program within Germany’s “BGM” system which provides health services to employees – Germany’s total BGM market represents a €1 billion per annum opportunity.

“I’m extremely pleased with the progress achieved during the second quarter as we execute our ambitious corporate growth strategy anchored by ColoAlert®’s commercial franchise and our product development pipeline,” commented Guido Baechler, Chief Executive Officer of Mainz Biomed “We head into the second half of 2023 with a great deal of momentum as ColoAlert® continues to gain commercial traction across Europe and in select international territories, we ramp-up enrollment planning for the ReconAAsense U.S. pivotal CRC study, execute our clinical trials evaluating a portfolio of proprietary novel gene expression (mRNA) biomarkers for potential inclusion into ReconAAsense, and advance PancAlert, a next-generation pancreatic cancer detection test.”