Prenetics and Globally Renowned Scientist Prof. Dennis Lo Establish US$200m Joint Venture “Insighta” for Breakthrough Multi-Cancer Early Detection Screening - Seite 2

“FRAGMA”, a new breakthrough technology which Prof. Lo published in 2022⁴, will be the technology utilized for multi-cancer early detection screening for Insighta.

Prof. Lo's entrepreneurial success is marked by his co-founding of Cirina, a company acquired by Grail in 2017 for US$300m. Grail itself was subsequently bought by Illumina for a remarkable US$7.1bn, further highlighting Prof. Lo's considerable impact in the life sciences industry.

Prenetics will contribute:

Robust Capital – Prenetics will provide consideration of US$100m, with US$80m in cash and US$20m in Prenetics stock. The significant outlay by Prenetics demonstrates a shared belief in Insighta’s potential and will be directly utilized to fast-track clinical trials and commercialization of the breakthrough early cancer detection technology.

Strong Management and Commercialization – Danny Yeung, esteemed serial entrepreneur and the dynamic force behind Prenetics, will extend his leadership role as CEO to Insighta. Danny's proven track record positions him perfectly for steering Insighta's journey ahead.

Danny Yeung, Chief Executive Officer of Prenetics and Insighta, said, “I am absolutely thrilled to embark on this Joint Venture alongside Prof. Dennis Lo, a figure of immense reverence in the scientific community. His pioneering work in genomics has already transformed millions of lives around the globe. With Insighta, we are presented with a once in a lifetime opportunity. The potential of our Presight test is immense, potentially influencing the health of 1 billion individuals in Asia. Our primary focus for the initial launch will be in Mainland China, Hong Kong and other parts of Asia. On a global scale, we intend to forge alliances with healthcare institutions and forward-thinking governments that align with our vision – a commitment to save lives through the power of early cancer detection. Given the scale of our mission to combat cancer, we are enthusiastically open to collaborations with researchers and partners worldwide. We wholeheartedly welcome your contributions and insights.”

Prof. Lo said, “I am genuinely exhilarated to be at the forefront of such a ground-breaking new technology. Joining forces with Danny Yeung and Prenetics is particularly inspiring - a joint venture that not only ensures robust capital resources, strong management but also a mutual vision of global health transformation. We are driven by the profound potential to save countless lives, and together, we will make a significant stride towards a healthier future for all.”