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Prenetics Announces Tencent’s US$30 Million Investment in Insighta, Strengthening Strategic Partnership for AI-Driven Early Cancer Detection
Prenetics Global (NASDAQ: PRE) announced a strategic US$30 million investment by Tencent in Insighta, valuing the early cancer detection company at US$200 million. This investment reduces Prenetics' stake in Insighta from 50% to 35%, while Insighta's co-founders retain their 50% shareholding. Prenetics receives US$30 million in cash from the sale of secondary shares to Tencent, boosting its pro forma cash and short-term assets to over US$90 million.
Insighta's early cancer detection platform uses proprietary FRAGMA technology, which detects DNA methylation aberrations in cell-free DNA. The company has begun clinical trials in Mainland China for liver cancer detection and plans to expand to lung cancer. With US$80 million in cash reserves, Insighta is well-funded to advance its clinical trials and commercialization efforts.
Insighta's early cancer detection platform uses proprietary FRAGMA technology, which detects DNA methylation aberrations in cell-free DNA. The company has begun clinical trials in Mainland China for liver cancer detection and plans to expand to lung cancer. With US$80 million in cash reserves, Insighta is well-funded to advance its clinical trials and commercialization efforts.
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