Mainz Biomed Secures Public Funding to Advance Innovative Pancreatic Cancer Screening Test
Rhea-AI Summary
Mainz Biomed (NASDAQ:MYNZ) has secured significant public funding from the Investitions- und Strukturbank Rheinland-Pfalz (ISB) for its pancreatic cancer screening test development. The ISB will fund up to 50% of the total project costs through its Innovation and Technology Support Program.
The company is currently in the feasibility phase, collaborating with Crown Bioscience to evaluate a panel of mRNA biomarkers and a machine learning-driven algorithm using clinical blood samples. This non-invasive, blood-based screening test aims to enable earlier detection of pancreatic cancer, potentially improving treatment outcomes.
Positive
- Secured public funding covering up to 50% of project costs from German state development bank
- Government backing validates scientific and technological merit of the project
- Partnership with Crown Bioscience for clinical sample evaluation
- Development of innovative non-invasive blood-based screening technology
Negative
- Project still in early feasibility phase
- No immediate revenue generation potential
- Success of biomarker panel and ML algorithm yet to be proven
News Market Reaction – MYNZ
On the day this news was published, MYNZ gained 0.70%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
BERKELEY, Calif. and MAINZ, Germany, June 25, 2025 (GLOBE NEWSWIRE) -- Mainz Biomed N.V. (NASDAQ:MYNZ) (“Mainz Biomed” or the “Company”), a molecular genetics diagnostic company specializing in the early detection of cancer, is pleased to announce that its pancreatic cancer project will receive public funding from the Investitions- und Strukturbank Rheinland-Pfalz (ISB), the development bank of the German federal state of Rheinland-Pfalz.
Under the ISB’s Innovation and Technology Support Program (Innovations- und Technologieförderungsprogramm), the state will fund up to
The award of the public grant underscores the medical and technological relevance of Mainz Biomed’s approach. The project aims to close a critical gap in cancer diagnostics by detecting pancreatic cancer at an earlier, more treatable stage.
“This support from the ISB is a strong vote of confidence in the potential of our technology and the importance of early detection in combating pancreatic cancer,” said Dr. Moritz Eidens, CSO of Mainz Biomed.
The project is currently in the feasibility phase. Together with Crown Bioscience, Mainz Biomed is evaluating the performance of a panel of mRNA biomarkers and a ML-driven algorithm, using real clinical blood samples. This work is part of the Company’s broader pipeline strategy to expand its portfolio of accessible, non-invasive diagnostics across multiple cancer indications.
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About Mainz Biomed NV
Mainz Biomed develops market-ready molecular genetic diagnostic solutions for life-threatening conditions. The Company’s flagship product is ColoAlert®, an accurate, non-invasive and easy-to-use, early-detection diagnostic test for colorectal cancer. ColoAlert® is marketed across Europe and the United Arab Emirates. The Company is currently running a pivotal FDA clinical study for US regulatory approval. Mainz Biomed’s product candidate portfolio also includes PancAlert, an early-stage pancreatic cancer screening test based on real-time Polymerase Chain Reaction-based (PCR) multiplex detection of molecular-genetic biomarkers in stool samples. To learn more, visit mainzbiomed.com or follow us on LinkedIn, Twitter and Facebook.
For media inquiries
MC Services AG
Maximilian Schur / Simone Neeten
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mainzbiomed@mc-services.eu
For investor inquiries, please contact ir@mainzbiomed.com
Forward-Looking Statements
Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from the Company’s expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the failure to meet projected development and related targets; (ii) changes in applicable laws or regulations; (iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the “SEC”) by the Company. Additional information concerning these and other factors that may impact the Company’s expectations and projections can be found in its initial filings with the SEC, including its annual report on Form 20-F filed on March 31, 2025. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to Mainz Biomed and speaks only as of the date on which it is made. Mainz Biomed undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.
FAQ
What funding did Mainz Biomed (MYNZ) receive for its pancreatic cancer test?
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