Nasdaq-Listed Prenetics Announces Genomics-Based Partnership with Humanity Protocol and Launches Crypto Strategic Reserve

Rhea-AI Summary

Prenetics Global (NASDAQ: PRE) has announced a strategic partnership with Humanity Protocol to integrate its CircleDNA service for blockchain-based identity verification. The collaboration aims to provide secure Proof of Personhood credentials using DNA testing and zero-knowledge proof technology.

The company has established a Crypto Strategic Reserve with initial investments of $1.5M distributed across $H tokens ($1M), Bitcoin ($250K), and Solana ($250K). These investments will be reviewed quarterly. Prenetics reported $84.87M in cash and short-term assets as of December 31, 2024.

Additionally, through its joint venture Insighta, Prenetics is advancing in decentralized science (DeSci) with AI-driven early cancer detection, supported by a $30M investment from Tencent. The company's consumer health brand, IM8, is also contributing to DeSci initiatives by applying scientific advancements to daily health and longevity solutions.

Positive

• Strategic partnership with Humanity Protocol valued at $1.1bn
• Strong balance sheet with $84.87M in cash and short-term assets
• $30M investment from Tencent for AI-driven cancer detection
• Diversification into digital assets through $1.5M crypto investment

Negative

• None.

• CircleDNA powers blockchain-based identity verification with Humanity Protocol, valued at US $1.1bn after latest fundraise
• Prenetics invests $1.5M in Bitcoin, Solana and H tokens, supported by strong balance sheet
• Prenetics advances Decentralized Science (DeSci) with AI-driven early cancer detection, backed by $30M investment from Tencent
  

CHARLOTTE, N.C., Feb. 11, 2025 (GLOBE NEWSWIRE) -- Prenetics Global Limited (NASDAQ: PRE), a leading genomics and consumer healthcare company, today announced a groundbreaking genomics-based partnership with Humanity Protocol, a decentralized identity verification company. This collaboration leverages Prenetics’ advanced genetic testing capabilities to underpin decentralized identity verification.

Prenetics is bringing its flagship CircleDNA service into Humanity Protocol’s infrastructure as an Identity Validator. This integration enables the issuance of blockchain-based Proof of Personhood credentials, leveraging DNA testing to deliver highly secure and sybil-resistant identity verification. With advanced zero-knowledge proof technology, these credentials ensure robust privacy protection while supporting decentralized applications across finance, healthcare, and governance.

In coordination, and at the root of this partnership, Prenetics has formed a Crypto Strategic Reserve aimed at fueling innovation at the intersection of blockchain, healthcare, and decentralized science (DeSci). As part of the dual initiative, Prenetics is committing initial investments of $1 million in $H tokens, $250,000 in Bitcoin (BTC), and $250,000 in Solana (SOL). These allocations, which will be revisited on a quarterly basis to assess further investment opportunities, introduce the company’s digital asset investment strategy into its corporate balance sheet. Prenetics’ cash and short-term assets balance stood at $84.87 million as of December 31, 2024, reflecting its robust financial position to support these initiatives.

Danny Yeung, CEO and Co-Founder of Prenetics, stated: “Our partnership with Humanity Protocol exemplifies our commitment to merging the precision of genomics with the transformative potential of blockchain technology, particularly with the increasing validity of direct generative based advancements in healthcare. Through our CircleDNA service, we will provide secure, privacy-focused identity solutions that not only benefits decentralized applications across finance, healthcare, and governance but also paves the way for a strategic framework that permits Prenetics to integrate and capitalize on digital assets.”

Yat Siu, Board Director of the Humanity Foundation and Executive Chairman of Animoca Brands, added: “Prenetics’ entry into the decentralized identity arena as an Identity Validator marks a significant milestone. Their deep expertise in genomics, now combined with an active role in the Web3 ecosystem, is exactly the kind of forward-thinking collaboration that will drive decentralized identity and secure digital interactions into the future.”

On Prenetics’ Crypto Strategic Reserve, Mr. Yeung said: “Our Crypto Strategic Reserve demonstrates Prenetics’ confidence in the unfolding potential of blockchain and digital assets. This initiative not only diversifies our balance sheet and asset portfolio but also reinforces our commitment to a decentralized ecosystem by leveraging cutting-edge technologies to drive cross-industry innovation in healthcare and beyond.”

Advancing DeSci, AI-Driven Early Cancer Detection and Consumer Healthcare

Building on its blockchain and identity initiatives, Prenetics has historically been at the forefront of innovation in decentralized science (DeSci) through its joint venture company, Insighta. Currently advancing through clinical trials, Insighta is dedicated to making AI-driven early cancer detection accessible to millions worldwide. With its $30 million investment from Tencent, Insighta is leveraging Tencent’s advanced AI capabilities to accelerate groundbreaking discoveries in early cancer detection. Complementing this, Prenetics’ consumer health brand, IM8, is making a significant impact in the DeSci space by applying scientific advancements to promote daily health and longevity. Together, these efforts showcase how Prenetics is seamlessly integrating decentralized methodologies, precision genomics, cutting-edge artificial intelligence, and consumer healthcare to redefine innovation in global healthcare.

"Blockchain is creating unprecedented opportunities for innovation across industries," said Yeung. "By merging the rigor of genomics with digital innovation, we are forging a path toward a future where secure identity verification and groundbreaking healthcare solutions go hand in hand."

About Prenetics

Prenetics (NASDAQ:PRE), a leading health sciences company, is dedicated to advancing consumer and clinical health. Our consumer initiative is led by IM8, a new health and wellness brand, and Europa, one of the largest sports distribution companies in the USA. Our clinical division is led by Insighta, our $200 million venture focused on multi-cancer early detection technologies. Each of Prenetics’ units synergistically enhances our global impact on health, embodying our commitment to ‘enhancing life through science’. To learn more about Prenetics, please visit prenetics.com.

About Humanity Protocol

Humanity Protocol is an innovative decentralized identity solution that employs advanced technologies—ranging from palm recognition to DNA-based testing—to establish robust Proof of Humanity credentials. Its privacy-centric approach ensures sybil-resistant identity verification across various Web3 applications.

About Animoca Brands

Animoca Brands is a global leader in gamification, blockchain, and digital property rights. With a diverse portfolio of over 380 investments in Web3 projects, the company is dedicated to fostering innovation in the metaverse and driving the adoption of blockchain technologies across multiple industries.

Investor Relations Contact:
investors@prenetics.com
PRE@mzgroup.us

Angela Cheung
Investor Relations / Corporate Finance
Prenetics Global Limited
angela.hm.cheung@prenetics.com

FAQ

What is Prenetics' (PRE) new partnership with Humanity Protocol?

Prenetics has partnered with Humanity Protocol to integrate its CircleDNA service for blockchain-based identity verification, using DNA testing to provide secure Proof of Personhood credentials with privacy protection through zero-knowledge proof technology.

How much has Prenetics (PRE) invested in its Crypto Strategic Reserve?

Prenetics has invested $1.5M total, with $1M in H tokens, $250,000 in Bitcoin (BTC), and $250,000 in Solana (SOL), to be reviewed quarterly.

What is Prenetics' (PRE) cash position as of December 31, 2024?

Prenetics reported $84.87 million in cash and short-term assets as of December 31, 2024.

How much did Tencent invest in Prenetics' (PRE) Insighta venture?

Tencent invested $30 million in Insighta, Prenetics' joint venture focused on AI-driven early cancer detection.

What is Prenetics' (PRE) role in the Humanity Protocol ecosystem?

Prenetics serves as an Identity Validator in the Humanity Protocol ecosystem, using its CircleDNA service to provide secure, privacy-focused identity verification solutions for decentralized applications.