Prenetics and Globally Renowned Scientist Prof. Dennis Lo Establish US$200m Join… – Press Release

[ad_1]

(Prof. Dennis Lo and Danny Yeung at Signing Ceremony)

– Insighta is a 50/50 Joint Venture by Prenetics and Professor Dennis Lo.

– Insighta is powered by technology developed by the Centre for Novostics which is supported by the InnoHK Initiative of the Innovation and Technology Commission of the Hong Kong SAR Government.

– By 2030, the early cancer detection screening opportunity is estimated to be US$6bn in Asia on an annual basis.1

– Prof. Dennis Lo is the Li Ka Shing Professor of Medicine of the Chinese University of Hong Kong (CUHK) and the Scientific Director of the Centre for Novostics.

HONG KONG, June 25, 2023 (GLOBE NEWSWIRE) — Prenetics Global Limited PRE, a leading genomics-driven health sciences company, and Prof. Dennis Lo today announce they have entered into an agreement to establish a joint venture named Insighta. The board of directors of Prenetics Global Limited has unanimously approved the transaction.

Transaction Terms – Prenetics will receive a 50% equity stake, while Prof. Lo’s party will also receive a 50% equity stake. The joint venture will be governed by a six-person board of directors composed of three directors from each side, with Prof. Lo as the Chairman and Danny Yeung as the CEO. The US$200m transaction makes it the largest private life sciences deal in Hong Kong history and one of the largest in the region.

Prof. Lo will contribute:

World-Class Science – Prof. Lo, renowned for his ground-breaking work in non-invasive prenatal testing (NIPT) and in liquid biopsy, has been bestowed with some of the highest distinctions in life sciences. These accolades include his induction as a Fellow of the Royal Society in 2011, recipient of the esteemed Royal Medal and Breakthrough Prize in 2021, and, most recently, the distinguished Lasker Award in 20222.

Prof. Lo, as the Associate Dean (Research) of the Faculty of Medicine at the Chinese University of Hong Kong, consistently demonstrates outstanding academic leadership. His influence extends far…

[ad_2]