Will Mainz Biomed (MYNZ) Stock Continue Upward?

Mainz Biomed N.V. (NASDAQ: MYNZ) is rocketing in the market this morning, and for good reason. The company, one that specializes in the early detection of cancer, announced that it entered into an agreement with Socpra Sciences Santé Et Humaines S.E.C. surrounding access to novel mRNA biomarkers. 

Here’s what’s happening:

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MYNZ Stock Gains On New Biomarker Access

As mentioned above, Mainz Biomed said it entered into a Technology Rights Agreement with Socpra Sciences Santé Et Humaines S.E.C. that provides access to a portfolio of novel mRNA biomarkers for potential future integration into ColoAlert. 

ColoAlert is the company’s easy-to-use test for colorectal cancer, one that has proven to be highly efficacious. Currently, the ColoAlert test is available in Europe, but it may soon be available in the United States. In fact, MYNZ said it’s preparing to initiate ColoAlert’s regulatory pathway for approval in the United States. 

The company went on to explain that a study surrounding these biomarkers was published in a peer-reviewed journal, showing an overall sensitivity of 75% for a precancerous biomarker and 95% for colorectal cancer. The company explained that if it can duplicate these results with the biomarkers being integrated into ColoAlert, the test will be the most robust and accurate at-home diagnostic screening test for CRC on the market today. 

In order to determine this, MYNZ is planning on commencing a clinical study in Europe to evaluate the effectiveness of the biomarkers to enhance ColoAlert’s utility. The goal of the study is to prove that the addition of these biomarkers will increase rates of diagnostic sensitivity and specificity. 

That study is expected to start in the first half of 2022. 

Moreover, the company explained that data from the study may be incorporated into the company’s design of its U.S clinical trials of ColoAlert. 

Agreement Breakdown

According to the terms of the agreement, MYNZ has the option to license exclusive global rights to five gene expression biomarkers. The company said these biomarkers have demonstrated a high degree of effectiveness in detecting colorectal cancer lesions including but not limited to advanced adenomas. 

The ability to detect advanced adenomas is a key here since these are pre-cancerous polyps often attributed to the future contraction of this deadly disease. 

Management Commentary

In a statement, Guido Baechler, CEO at Mainz Biomed, had the following to offer:

“Securing the exclusive rights to license this family of novel biomarkers is a fantastic milestone for the Company as it provides an extraordinary opportunity to potentially upgrade ColoAlert’s technical profile, possibly making it the most effective at-home screening test for CRC that has ever been commercialized. 

The Mainz team is on a mission to develop gold standard molecular diagnostic screening solutions for cancer indications and obtaining the rights to these biomarkers is a testament to our on-going commitment to develop cutting-edge products as they have shown superior sensitivity to even liquid biopsy products in development in terms of identifying advanced adenomas.”

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The Bottom Line

The bottom line here is simple. MYNZ already has ColoAlert on the market in Europe, and is planning on bringing it to market in the United States. Now, if all goes well with the licensing and implementation of new biomarkers, it has the potential to make ColoAlert the best at-home test for colorectal cancer available on the market today. All told, this is a huge opportunity for the company and those that invest in its stock.

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