On Thursday, Prenetics Global Limited (NASDAQ:PRE) announced that former international footballer, entrepreneur, and philanthropist David Beckham has become a strategic investor in the business.

Prenetics and Beckham will become co-founding partners of a new health and wellness brand, IM8, which will focus on consumer health products, with details to be announced at a later date.

Beckham said, "Throughout my life and career, I've been fortunate to have access to the best medical professionals, nutrition experts, and fitness coaches. Their guidance has been crucial to my health and well-being. That's why I am excited to be working with Prenetics—a company dedicated to innovative, world-leading scientific advancements in health—as a co-founding partner and ambassador for IM8."

Prenetics is a health sciences company. IM8, a new health and wellness brand, leads consumer initiatives.

The clinical division is led by Insighta, a $200 million joint venture with renowned scientist Prof. Dennis Lo, focused on multi-cancer early detection technologies.

Prenetics reported first-quarter revenue of $6.4 million, an increase of 30.2% compared to the first quarter of 2023.

Danny Yeung, CEO and Co-Founder of Prenetics, remarked: "The first quarter of 2024 marked a good start for our company, showcasing solid growth in revenue and gross profit...Our purpose remains dedicated to our science-first approach in our pivot to consumer healthcare to broaden accessibility to science-based health and wellness."

The company reported cash and other short-term assets of $86.6 million as of March 31, 2024.

Price Action: PRE shares are up 1.01% at $6.06 at the last check on Thursday.

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