Prenetics

Prenetics (NASDAQ:PRE) is a company that offers genetic profiling services.

One of its major investors was Alibaba founder Jack Ma. It listed on the NASDAQ exchange via a Special-purpose acquisition company.

Since listing, it has not been able to turn a profit. 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.

Danny Yeung serves as CEO of Prenetics.

Products
Its subsidiary CircleDNA focuses on disease prevention rather than genealogy. For example, in 2016 it launched a rapid DNA-based colon cancer screening product. In 2019 it launched a line of at-home tests to be sold through retailers in Asia.

Insighta
In 2023 it announced $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. Lo and Prenetics are working together to create a new company, Insighta, that will focus on their cancer detection work. The early detection cancer test, Presight, will begin clinical trials in 2024. The company claims that by 2027 patients will be able to test for more than 10 types of cancer with a single blood test. Danny Yeung will serve as CEO of Insighta and Lo will serve as chairman.

Covid Testing Contracts
Prenetics was aggressive in marketing Covid testing capacity. It was one of three companies, and the only one from Hong Kong, selected to provide COVID-19 testing support to the Hong Kong government. It also had plans to participate in a Covid passporting scheme.

Its UK arm provided COVID-19 testing to the Premier League to help them restart football amid the pandemic. As part of so-called "project restart" the company hired former FIFA player Rio Ferdinand to reassure players about the safety of the plan. Around the same time, the company also launched pop-up testing sites for a flexible workspace provider.