LONDON AND HONG KONG, Sep 9, 2022 – (ACN Newswire) – Prenetics Global Limited (NASDAQ: PRE) ("Prenetics" or the "Company"), a global leader in genomic and diagnostic testing, today announced its unaudited financial results for the second quarter ended June 30, 2022.

— Revenue of US$51.7 million in the second quarter of 2022
— Loss from operations of US$(17.9) million and adjusted EBITDA(1) of US$6.5 million in the same period
— Raises full year adjusted EBITDA guidance to the range of US$35 million to US$45 million, with corresponding full year revenue guidance in the range of US$255 million to US$275 million
— Strong cash and cash equivalents, short-term financial assets, trade receivables, deposits, prepayments and other receivables of US$215.3 million on balance sheet as of June 30, 2022
— Successfully launched two pipeline products, ColoClear and Circle SnapShot in the period, growing Prenetics beyond COVID-19 testing services
— Prenetics and Animoca Brands, the pioneer in Web3 signed an agreement to form a joint venture to create a decentralized digital health data platform on the Metaverse. Additional details to be announced in the fourth quarter of 2022

Danny Yeung, CEO & Co-founder of Prenetics, said "The current and next fiscal year are critical periods of transformative growth for Prenetics. With the full support of our management and board we have put into motion a sensible strategic plan which guides us in achieving our mission to decentralize healthcare. In doing so, we aim to further grow our business beyond diagnostic testing by penetrating prevention and personalized care segments.

At present, our genetics and diagnostics testing services continue to be our strongest offering. The diagnostics segment is a major contributor to our total revenues and places us into a strong position to execute on our diversification initiatives through M&A. Organically, we expanded our product pipeline through the launch of ColoClear, a non-invasive stool DNA test for the early detection of colorectal cancer and Circle SnapShot, an at-home painless blood test, two major initiatives in placing the control of health into consumers' hands while in the comfort of their homes. At a global level, we continue to be in deep discussions with various M&A targets, especially in the areas of telehealth, personalized care and specialized clinics. The synergies which we believe we can build upon are expected to provide us the tools needed to build the world's first global end-to-end healthcare ecosystem."

Second Quarter 2022 Financial and Operational Highlights

— Revenue was US$51.7 million for the second quarter of 2022
— Loss from operations was US$(17.9) million for the second quarter of 2022. Included in the loss were employee equity-settled share-based payment expenses of US$13.0 million and other strategic financing, transactional expense and non-recurring expenses of US$8.8 million
— Gross margin was 42% for the second quarter of 2022
— Adjusted EBITDA was US$6.5 million for the second quarter of 2022
— Maintained strong balance sheet with cash and cash equivalents, short-term financial assets, trade receivables, deposits, prepayments and other receivables of US$215.3 million to support M&A and strategic growth initiatives
— Ease of quarantine policy globally accelerated resumption of travel and continued COVID-19 testing service volumes, with further momentum into the third and fourth quarter of 2022
— Significant progress with M&A discussions and geographic expansion
— Robust organic growth – official launch of ColoClear in June 2022 and Circle SnapShot in August 2022. Pipeline product Pet DNA expected to be launched in the fourth quarter of 2022
— Prenetics has performed and delivered more than 23 million laboratory and at-home COVID-19 tests globally as of June 30, 2022

First Half 2022 Financial Highlights

— Revenue was US$143.8 million for the six months ended June 30, 2022, compared to US$136.5 million for the six months ended June 30, 2021, representing an increase of 5% year-over-year, on track to beat FY2022 guidance
— Loss from operations was US$(18.4) million for the six months ended June 30, 2022 compared to profit from operations of US$25.9 million for the six months ended June 30, 2021. Included in the loss were employee equity-settled share-based payment expenses of US$22.3 million and other strategic financing, transactional expense and non-recurring expenses of US$10.5 million
— Gross margin was 40% for the six months ended June 30, 2022 compared to 42% for the six months ended June 30, 2021
— Adjusted EBITDA was US$19.3 million for the six months ended June 30, 2022 compared to US$32.6 million for the six months ended June 30, 2021, achieving full year adjusted consensus estimates

Financial Outlook

Prenetics provides guidance based on current market conditions and expectations for revenue and adjusted EBITDA, which is a non-IFRS financial measure.

For the third quarter of 2022, we expect:

— Revenue to be in the range of US$65 million to US$70 million
— Adjusted EBITDA to be in the range of US$15 million to US$20 million

About Prenetics

Founded in 2014, Prenetics is a major global diagnostics and genetic testing company with the mission to bring health closer to millions of people globally and decentralize healthcare by making the three pillars – Prevention, Diagnostics and Personalized Care – comprehensive and accessible to anyone, at anytime and anywhere. Prenetics is led by visionary entrepreneur, Danny Yeung, with operations across 9 locations, including United Kingdom, Hong Kong, India, South Africa, and Southeast Asia. Prenetics develops consumer genetic testing and early colorectal cancer screening; and provides COVID-19 testing, rapid point of care and at-home diagnostic testing and medical genetic testing. To learn more about Prenetics, visit www.prenetics.com.

Enquires:

Investors:
investors@prenetics.com

Media:
Strategic Public Relations Group
Vicky Lee +852 2864 4834 Email: vicky.lee@sprg.com.hk
Corinne Ho +852 2114 4911 Email: corinne.ho@sprg.com.hk
Holly Szeto +852 2864 4853 Email: holly.szeto@sprg.com.hk
www.sprg.com.hk

(1) Adjusted EBITDA (non-IFRS) represents (loss)/profit from operations under IFRS before equity-settled share-based payment expenses, depreciation and amortization, other strategic financing, transactional expense and non-operating recurring expense, and finance income, exchange gain or loss. See the section titled "Unaudited Financial Information and Non-IFRS Financial Measures" and the table captioned "Reconciliation of (Loss)/Profit from Operations under IFRS and Adjusted EBITDA (Non-IFRS)" for more details.

Forward-Looking Statements
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act that are based on beliefs and assumptions and on information currently available to Prenetics, and also contains certain financial forecasts and projections.

All statements other than statements of historical fact contained in this document, including, but not limited to, statements about Prenetics' future results of operations and financial position, plans for new product development and geographic expansion, objectives of management for future operations, projections of market opportunity and revenue growth, competitive position, and technological and market trends, are forward-looking statements. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "target," "seek" or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. These statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of Prenetics, which involve inherent risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this document, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. A number of risks and uncertainties could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to: changes in applicable laws or regulations applicable to Prenetics; developments related to the COVID-19 pandemic; the regulatory environment and changes in laws, regulations or policies in which Prenetics operate; Prenetics' ability to successfully compete in highly competitive industries and markets; Prenetics' ability to continue to adjust its offerings to meet market demand; Prenetics' ability to attract customers to choose its products and services and grow its ecosystem; political instability in the jurisdictions in which Prenetics operates; the overall economic environment and general market and economic conditions in the jurisdiction in which Prenetics operates; and Prenetics' ability to execute its strategies, manage growth and maintain its corporate culture as it grows. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties included in Prenetics' filings with the U.S. Securities and Exchange Commission (the "SEC") from time to time.

Forward-looking statements speak only as of the date they are made. Prenetics does not undertake any obligation to update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required under applicable law.

Website

Prenetics intends to use its website as a distribution channel of material company information. Financial and other important information regarding the Company is routinely posted on and accessible through the Company's website at https://www.prenetics.com/. Accordingly, we recommend you to monitor the investor relations portion of our website at https://ir.prenetics.com/ in addition to following our press releases, SEC filings, and public conference calls and webcasts. In addition, you may automatically receive email alerts and other information about the Company when you enroll your email address by visiting the "Request Email Alerts" section of our investor relations page at https://ir.prenetics.com/. However, the additional information contained on our website is not part of our SEC filings.

Basis of Presentation

Unaudited Financial Information and Non-IFRS Financial Measures has been provided in the financial statements tables included at the end of this press release. An explanation of these measures is also included below under the heading "Unaudited Financial Information and Non-IFRS Financial Measures." Unaudited Financial Information and Non-IFRS Financial Measures

To supplement Prenetics' consolidated financial statements prepared in accordance with International Financial Reporting Standards ("IFRS"), the Company is providing non-IFRS measures, Adjusted EBITDA, adjusted gross profit and adjusted profit for the period. These non-IFRS financial measures are not based on any standardized methodology prescribed by IFRS and are not necessarily comparable to similarly-titled measures presented by other companies. Management believes these non-IFRS financial measures are useful to investors in evaluating the Company's ongoing operating results and trends.

Management is excluding from some or all of its non-IFRS operating results (1) Equity-settled share-based payment expenses, (2) depreciation and amortization, (3) finance income and exchange gain or loss, and (4) other discretionary items determined by management. These non-IFRS financial measures are limited in value because they exclude certain items that may have a material impact on the reported financial results. Management accounts for this limitation by analyzing results on an IFRS basis as well as a non-IFRS basis and also by providing IFRS measures in the Company's public disclosures.

In addition, other companies, including companies in the same industry, may not use the same non-IFRS measures or may calculate these metrics in a different manner than management or may use other financial measures to evaluate their performance, all of which could reduce the usefulness of these non-IFRS measures as comparative measures. Because of these limitations, the Company's non-IFRS financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with IFRS. Investors are encouraged to review the non-IFRS reconciliations provided in the tables captioned "Reconciliation of Loss from Operations under IFRS and Adjusted EBITDA (Non-IFRS)", "Reconciliation of Gross Profit under IFRS and Adjusted Gross Profit (Non-IFRS)" and "Reconciliation of Loss attributable to equity shareholders of Prenetics under IFRS and Adjusted Profit for the period (Non-IFRS)" set forth at the end of this document.


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HONG KONG, Sep 9, 2022 – (ACN Newswire) – EC Healthcare (the "Company", which together with its subsidiaries is referred to as the "Group", SEHK stock code: 2138), the largest non-hospital medical group in Hong Kong*, is pleased to announce that on 7 September 2022, the Group's Chairman, Executive Director and Chief Executive Officer Mr. Tang Chi Fai further acquired a total of 170,000 shares of the Company on the open market for approximately HK$854,800 at an average price of HK$5.0282 per share. Prior to this transaction, Mr. Tang had already increased his shareholding in the Company earlier this month on 1 September 2022, acquiring a total of 107,000 shares at an average price of $5.4905 per share. After the transaction, Mr. Tang holds an aggregate of 722,204,610 shares in the Company, increasing his equity stake from 61.27% to 61.29%.

Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of EC Healthcare said, "In spite of the current economic climate, we are confident that the medical market will remain resilient and that long-term public-private healthcare partnerships will continue to drive up investment in Hong Kong's private healthcare sector. Reaping the benefits from its ongoing investments in elevating healthcare service offerings, the Group exemplified solid business recovery by delivering first-quarter sales volume of no less than HK$860 million for the financial year that concluded on March 31, 2023. Management is still nevertheless upbeat about the Group's business success going forward. In order to continue enhancing EC Healthcare's enclosed healthcare ecosystem, the Group will go forward with its close collaboration with the major players in the technology, telecommunications, insurance, property, and pharmaceutical industries."

About EC Healthcare
EC Healthcare is Hong Kong's largest non-hospital medical service provider*, leveraging its core businesses of preventive and precision medicine, and committed to developing medical artificial intelligence by integrating its multi-disciplinary medical services. The move, which is supported by the Group's high-end branding and quality customer services, is aimed at offering customers safe and effective healthcare and medical services with professionalism.

The Group principally engages in the provision of one-stop medical and health care services in Greater China. The Group provides a full range of services and products under its well-known brands, including those of its one-stop aesthetic medical solutions provider DR REBORN which has ranked first in Hong Kong by sales for years, primary care clinics jointly established with Tencent Doctorwork, chiropractic services centre New York Spine and Physiotherapy Center NYMG, health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, a comprehensive dental centre EC DENTAL CARE, a diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic SPECIALISTS CENTRAL, NEW MEDICAL CENTER and Prime Medical Centres, obstetrics and gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, specialists central, a paediatric center PRIME CARE, cardiology center HONG KONG INTERNATIONAL CARDIOLOGY CENTER, PathLab Medical Laboratories, a professional hair care center HAIR FOREST, Ophthalmology Center VIVID EYE and EC Veterinary Hospital and Imaging Center.

*According to independent research conducted by Frost and Sullivan in terms of revenue in 2020 and 2021


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HONG KONG, Sep 8, 2022 – (ACN Newswire) – EC Healthcare (the "Company", which together with its subsidiaries is referred to as the "Group", SEHK stock code: 2138), the largest non-hospital medical group in Hong Kong*, is pleased to announce that the Group has entered into a non-legally binding memorandum of understanding (the "MOU") with AXA Hong Kong & Macau ("AXA") for a strategic partnership, pledging to work together to provide premium and comprehensive health management services to customers.

Under the partnership, the first AXA Medical Centre was unveiled today on the 34th floor of the World Trade Centre in Causeway Bay. Together with the AXA designated Endoscopy and Day Surgery Centre in Central, it will officially start operating in November this year.

Located in the central business district of Causeway Bay, the AXA Medical Centre occupies a floor area of over 5,000 sq. ft. The center offers services include preventive medicine, body checks, vaccinations, and nutritional counselling with support from on-site medical professionals including general practitioners, Chinese medicine practitioners, dieticians and radiographers. The AXA Medical Centre provides various body check services such as chest and abdominal X-rays, ultrasound scans, gynaecological examination, electrocardiogram (ECG) with over 10 body examination rooms. Other services include allergy tests, non-invasive genetic screening tests for colorectal cancer, and all pre-insurance health screening for AXA customers.

EC Healthcare is building a one-stop, multi-disciplinary, enclosed healthcare service platform, which allows AXA's customers to obtain a seamless medical referral service after check-ups and enjoy comprehensive, high-quality medical services that covers multiple medical disciplines.

In addition to setting up dedicated medical centres, the Group and AXA will further their cooperation with a view to extending the market coverage of their services to other central business districts and residential areas.

Mr. Leslie Lu, Executive Director and Co-CEO of EC Healthcare said, "Hong Kong's private healthcare market has huge potential. The Group regards strategic partnership with insurance firms as a key strategy of building up its presence in the growing market. The Group is very honoured to form partnership with such an internationally leading insurance group as AXA. The Group believes that the strategic partnership will boost higher customer public traffic with strong synergy in the healthcare sector and enhance the organic growth of the Group's medical and healthcare business through the provision of high-quality and high-end branding medical and healthcare services. The Group will also forge ahead with its deep strategic cooperation with the key players in the technology, telecommunications, insurance, property and pharmaceutical industries so as to keep enriching EC Healthcare's enclosed healthcare ecosystem."

Ms. Sally Wan, Chief Executive Officer of AXA Greater China said, "AXA Medical Centre marks a major milestone for us in delivering exceptional health management services to our customers, providing our customers with all-round care across their life stages. The centre, offering comprehensive one-stop health management services spanning prevention, diagnosis, and treatment, not only enhanced AXA's health management ecosystem but also brought to life our ongoing commitment to become a lifelong partner to our customers. AXA and EC Healthcare share the same vision of improving our customers' holistic wellness. Through this partnership, we can bring an exclusive, innovative, and personalised healthcare experience beyond insurance to our customers leveraging our combined strength."

About EC Healthcare
EC Healthcare is Hong Kong's largest non-hospital medical service provider*, leveraging its core businesses of preventive and precision medicine, and committed to developing medical artificial intelligence by integrating its multi-disciplinary medical services. The move, which is supported by the Group's high-end branding and quality customer services, is aimed at offering customers safe and effective healthcare and medical services with professionalism. The Group is a constituent stock of the Hang Seng Composite Index and the MSCI Hong Kong Small Cap Index.

The Group principally engages in the provision of one-stop medical and health care services in Greater China. The Group provides a full range of services and products under its well-known brands, including those of its one-stop aesthetic medical solutions provider DR REBORN which has ranked first in Hong Kong by sales for years, a professional hair care center HAIR FOREST, primary care clinics jointly established with health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, General outpatient clinic Tencent Doctorwork, the largest one-stop pain management centre in Hong Kong New York Medical Group, the comprehensive dental centres Bayley & Jackson Dental Surgeons, EC DENTAL CARE and Health and Care Dental Clinic, an advanced diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic PREMIER MEDICAL CENTRE, SPECIALISTS CENTRAL and NEW MEDICAL CENTER, a paediatric centre PRIME CARE, a gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, PathLab Medical Laboratories, Ophthalmology Center VIVID EYE and EC Veterinary Hospital and Imaging Center.

*According to independent research conducted by Frost and Sullivan in terms of revenue in 2020 and 2021

For further information, please contact:
iPR Ogilvy Limited
Callis Lau / Lorraine Luk
Tel: (852) 2136 6952 / 2169 0467
Fax: (852) 3170 6606
Email: ech@iprogilvy.com


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LAUSANNE, Switzerland, Sep 6, 2022 – (ACN Newswire) – Oculis S.A., ('Oculis') a global ophthalmology company developing life-changing treatments to save sight and improve eye care with breakthrough innovations, announces that the Phase 2 DX-211, a randomized, double blinded, multi-center and vehicle controlled clinical trial assessing the safety and efficacy of topical OCS-01 in patients with Diabetic Macular Edema (DME) (NCT05343156) has been published by the Acta Ophthalmologica journal. The publication is accessible on the National Institutes of Health (NIH) website here ( https://pubmed.ncbi.nlm.nih.gov/35848336/ ). In addition, a new subgroup analysis of this study was also recently presented by Pr R. Tadayoni at the 22nd EURETINA Congress on 2nd September in Hamburg, Germany.

— Positive Phase 2 data, published in journal ACTA, provides the first proof-of-concept for a topical drug effect in diabetic macular edema (DME)
— Dataset shows that OCS-01 eye drops were more effective than vehicle in reducing central macular thickness and improving visual acuity in patients with DME as per the pre-defined criteria for statistical superiority in the study protocol
— Subgroup analysis, presented by Pr Ramin Tadayoni at EURETINA, suggests even greater improvement in patients with lower baseline visual acuity
— If approved, OCS-01 has the potential to provide a new and potentially the FIRST non-invasive eye drop option for DME patients

The dataset published shows OCS-01 to be superior to vehicle in the primary efficacy analysis of BCVA change from baseline with a between group difference of +1.58 ETDRS letters at the pre-specified significance level of 0.15. Mean CMT showed a statistically significant greater decrease from baseline in the OCS-01 group compared to vehicle at all post-baseline time points up to and including Week 12 (-54micrometer OCS-01 vs. -17micrometer vehicle) and reversed towards baseline when treatment stopped at 12 weeks, demonstrating the pharmacological effect of OCS-01 on retinal edema. OCS-01 was well tolerated and no significant or unanticipated ocular adverse events were observed.

Subgroup analysis in patients with BCVA baseline is less than or equal to 65 letters, presented at EURETINA 2022, showed greater improvements in both CMT (-77.4micrometer OCS-01 vs. -23.1micrometer vehicle) and BCVA (+2.9 ETDRS letters in OCS-01 vs vehicle) at week 12.

Approximately 37 million people are affected by DME worldwide, representing around 7% of the large and growing diabetes patient population. DME is the build-up of fluid (edema) in the macula (the macula is important for the sharp, straight-ahead vision that is used for reading, recognizing faces, and driving). DME is the most common cause of vision loss among people with diabetic retinopathy and a leading cause of new cases of blindness in US adults. Although treatment options currently exist, all of them are invasive (injections or implants) and represent a significant burden for patients and caregivers.

OCS-01 is a novel, high concentration, preservative free, topical formulation of dexamethasone that has the potential to be the first topical eye drop and non-invasive treatment for DME. OCS-01 opens up the possibility of treating DME patients at all stages of disease with an eye drop. In addition, OCS-01 could increase the accessibility to treatment of those patients without easy access to specialists; together, this could significantly reduce the burden to the health care system and improve patient outcomes and quality of life.

OCS-01 is currently under investigation for the treatment of DME in the ongoing Phase 3 DIAMOND trial to confirm these findings in a larger patient population.

Riad Sherif, M.D., CEO of Oculis, said: "We are delighted by these data from the Phase 2 DX-211 study, which further reinforce the potential of OCS-01 to provide patients with a potentially transformative treatment of DME as the first non-invasive, eye drop, option. An effective topical treatment for DME could expand the proportion of patients treated, especially those with recent onset DME, as well as provide a treatment option to general ophthalmologists prior to referral to a retina specialist and thereby, improving access to treatment. We look forward to the results of the ongoing Phase 3 DIAMOND trial as Oculis seeks to deliver life-changing treatments that can be accessed globally for the world's most prevalent ocular diseases."

Pr Ramin Tadayoni, MD, PhD, Professor of Ophthalmology at Universite de Paris, said: "The development of effective topical eye drops for posterior segment disorders such as DME would offer easier, non-invasive options than those currently available, and could be widely adopted across all socioeconomic and geographic boundaries. This would allow earlier treatment in DME, reduce the burden on both patients and their caregivers with potentially less injections per year if combined with current standard of care, increase adherence and ultimately, improve outcomes worldwide. OCS-01 is the most developed and promising topical therapy for DME to date, and I look forward to its further development as a potentially transformative treatment for patients in need."

About Oculis
Oculis is a global biopharmaceutical company purposefully driven to save sight, improve eye care and address significant unmet medical needs with breakthrough innovations. Oculis's highly differentiated pipeline includes candidates for topical retinal treatments, topical biologics and disease modifying treatments. With a presence in key international markets, Oculis is poised to deliver life-changing treatments to patients worldwide. Headquartered in Lausanne, Switzerland and with operations in Europe, the U.S. and China, Oculis is led by an experienced management team with a successful track record and supported by leading international healthcare investors.

For more information, please visit: www.oculis.com


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ROSTOCK, Germany & DAMMAM, KSA, Sep 5, 2022 – (ACN Newswire) – Dammam Valley in partnership with other investment partners, announce to acquire a majority stake in Arcensus GmbH/Germany. Arcensus, founded by Dr. Arndt Rolfs, a multi-entrepreneur in biotechnology, CEO and founder of several innovative biotech companies, is a digital health and diagnostics company providing comprehensive genomic diagnostic services based on Whole Genome Sequencing.

With a cross-functional, international team of geneticists, medical experts and data scientists, Arcensus, one of the world's most innovative genetic biotechnology companies, offers its knowledge and bioinformatic expertise in genomic interpretation together with cutting-edge medical and preventive health applications. The management of Arcensus is convinced that with the worldwide implementation of Whole Genome Sequencing as the first line of genomic testing, the genomic era will start quickly and will conquer the molecular medicine market in a short time.

The initiative for the take-over comes from the Kingdom's aim to improve the global speed in implementing genomic testing for the early diagnosis of genetic diseases, mainly in cancer and rare genetic disorders. The financial investment led by Dammam Valley will allow Arcensus to speed up the penetration of the worldwide markets with its innovative solutions. It will be the backbone for developing a comprehensive multi-omic strategy.

Dr. Abdulrahman Al-Olayan, CEO of Dammam Valley said, "This is an important step in our global healthcare strategy for KSA, as we believe that the early diagnosis and preventive testing based on real-life genomic expertise with Whole Genome Sequencing is a key ingredient to accelerate the development of, and access to, new future treatments. As a leading technology company in genomic testing, Arcensus GmbH, founded by the visionary multi-entrepreneur, Dr. Arndt Rolfs, is best positioned to provide a deep understanding of bioinformatic technologies and data analytics infrastructure needed not only for the Kingdom of Saudi Arabia but for medical research and development efforts across the globe. A key principle of this is to preserve Arcensus' autonomy. We are delighted that the founder of Arcensus, Dr. Arndt Rolfs, will continue to manage operations, sit on the board and remain a significant shareholder."

Dr. Arndt Rolfs, Arcensus founder and CEO, said, "Dammam Valley will be a tremendous partner for the global expansion to us and shares our vision for building a worldwide healthcare platform in modern preventive medicine as well as early diagnostics of all genetic diseases. This important partnership will allow us to increase the investments in our modern technology and services platform, as well as our knowledge-based data extraction of the genomic data."

Under the terms of the agreement, Dammam Valley along with other investors will make a double-digit million Euro payment on a fully diluted basis. The parties agree Arcensus to continue its current business model, a network of partnerships and overall objectives following the transaction's closing. The integrity of the proprietary patient data will be maintained, as will the dedicated sales, marketing, and life sciences business activities.

About Dammam Valley

Established in 2021, Dammam Valley is a semi-government Investment company, solely owned by Imam Abdulrahman bin Faisal University, and with a raised capital of 100,000,000 SAR. It strives to be a source and destination for biotechnology innovation and healthcare in the Middle East and is the Nation's premier hub for evaluating and incubating biotech innovations. Aiming to stimulate investment, support projects, and forge quality partnerships in the fields of Health & Biotechnology, in addition to focusing on numerous other sustainable investments in various fields of interest.

About Arcensus

Arcensus is a digital healthcare and diagnostics company that empowers people to take control of their health. The company provides the highest-standard, secure, trusted, and comprehensive diagnostic service based on Whole Genome Sequencing. Arcensus analyses the complete genetic information in human DNA and identifies the predispositions and reasons for unclear symptoms with the help of cutting-edge bioinformatic technology, including artificial intelligence. The interpretation of the genomic data suggests better treatment options and helps individuals take preventive measures to live a healthier and longer life.

From our offices in New Jersey – United States, Rostock and Berlin – Germany, a cross-functional team of genetic experts, medical doctors, and data scientists works to make the most sophisticated and best genetic interpretation with medical and health prevention applications accessible to everyone. For more information, visit https://arcensus-diagnostics.com/.

Important Notice and Disclaimer

This press release contains "forward-looking statements" within the meaning of the U.S. federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking, and the words "anticipate," "believe," "continues," "expect," "estimate," "intend," "project," and similar expressions and future or conditional verbs such as "will," "would," "should," "could," "might," "can," and "may," are generally intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause Arcensus' actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, negative worldwide economic conditions and ongoing instability and volatility in the worldwide financial markets, the effects of the COVID-19 pandemic on our business and results of operations, possible changes in current and proposed legislation, regulations and governmental policies, pressures from increasing competition and consolidation in our industry, the expense and uncertainty of regulatory approval, including from the U.S. Food and Drug Administration, our reliance on third parties and collaboration partners, including our ability to manage growth and enter into new client relationships, our dependency on the rare disease industry, our ability to manage international expansion, our reliance on key personnel, our reliance on intellectual property protection, fluctuations of our operating results due to the effect of exchange rates, our ability to streamline cash usage, our requirement for additional financing and our ability to continue as a going concern, or other factors.

Contact information:
Arcensus GmbH
Ahmad Malik
Communication Manager
Tel: +49 381 20267000
Email: Ahmad.malik@arcensus-diagnostics.com

Dammam Valley
Dalal Alsarawi
Communication Manager
Tel: 013 333366
Email: dalal.alsarawi@dammamvalley.sa
www.dammamvalley.sa

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