Prenetics

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Prenetics Global Limited
Company typePublic
Nasdaq: PRE
ISINKYG722451229
Industry
Founded2014
Founders
  • Danny Yeung
  • Lawrence Tzang
Headquarters
Key people
Danny Yeung (CEO)[1]
Websiteprenetics.com

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.

It's subsidiary brands include CircleDNA, Insighta and IM8.

Company

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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

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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

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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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  1. ^ Sobti, Tara. "Prenetics' Danny Yeung and Dennis Lo launch Insighta, an early cancer detection testing company". Tatler Asia. Retrieved 2024-02-02.
  2. ^ a b "Jack Ma-backed Prenetics plots IPO after COVID-19 test success". Nikkei Asia. Retrieved 2023-11-19.
  3. ^ "Prenetics Global Limited (NASDAQ:PRE): Is Breakeven Near?". Yahoo Finance. 2023-11-11. Retrieved 2023-11-19.
  4. ^ "Prenetics Global Limited (NASDAQ:PRE) Held Back By Insufficient Growth Even After Shares Climb 30%". simplywall.st. 2024-01-07. Retrieved 2024-01-20.
  5. ^ "Prenetics Global Limited Announces Reverse Stock Split". Yahoo Finance. 2023-11-01. Retrieved 2023-11-19.
  6. ^ Yang, Jing (September 15, 2021). "Prenetics, a Covid-19 Testing Startup, to Go Public in SPAC Merger" – via www.wsj.com.
  7. ^ "Hong Kong biotech Prenetics tumbles after Nasdaq debut". Nikkei Asia. Retrieved 2023-11-19.
  8. ^ "iGene: Hong Kong biotech start-up Prenetics bringing 48-hour DNA tests to broader Chinese market for safer prescriptions". South China Morning Post. 2016-04-04. Retrieved 2024-01-20.
  9. ^ Shu, Catherine (2019-07-29). "Prenetics partners with Watsons, one of Asia's largest personal care retailers, to sell its new consumer DNA tests". TechCrunch. Retrieved 2023-11-19.
  10. ^ "Exclusive: Hong Kong's DNA pioneers launch blood tests to find cancer". South China Morning Post. 2023-06-26. Retrieved 2023-11-19.
  11. ^ "Covid-Testing Unicorn Is Plotting Bets for Post-Virus World". Bloomberg.com. 2022-05-18. Retrieved 2023-11-19.
  12. ^ a b Branca, Malorye (2023-06-29). "Dennis Lo and Prenetics Form Early Cancer Detection Firm Insighta". Inside Precision Medicine. Retrieved 2024-02-02.
  13. ^ "Prenetics, NASDAQ Health Sciences Company, Partners with David Beckham". 2024-07-11. Retrieved 2025-09-02.
  14. ^ "香港本地爆發迫近 政府考慮應否全民檢測新冠病毒". BBC News 中文 (in Traditional Chinese). 2020-07-15. Retrieved 2023-11-19.
  15. ^ Carp, Sam (2020-05-11). "Premier League taps Prenetics for coronavirus testing in 'UK£4m' deal". SportsPro. Retrieved 2023-11-19.
  16. ^ Brown, David (2024-01-20). "Lab boss is suspect in police drug test inquiry". ISSN 0140-0460. Retrieved 2024-01-20.
  17. ^ Cunningham, Sam (2020-05-18). "Exclusive: Ferdinand to convince players on Covid-19 test safety". inews.co.uk. Retrieved 2023-11-19.
  18. ^ Partridge, Joanna (2021-03-21). "Is this the future of office work – the pop-up car park Covid test pod?". The Guardian. ISSN 0261-3077. Retrieved 2024-01-20.