Mainz Biomed N.V. (NASDAQ:MYNZ) (“Mainz Biomed” or the “Company”), a molecular genetics diagnostic company specializing in the early detection of cancer, announced today a strategic partnership with Ärztliches Labor Dr. Buhlmann, a move aimed at further strengthening its position in the German market.
The collaboration grants Mainz Biomed greater access to, and the potential for further expansion into Germany’s private health insurance segment where ColoAlert®, its highly efficacious, and easy-to-use detection test for colorectal cancer (CRC), already receives reimbursement.
Established in 2006 and led by Dr. Annette Buhlmann, a seasoned expert with over 25 years of experience in laboratory medicine, Ärztliches Labor Dr. Buhlmann is a respected player in PCR-based analysis. Its comprehensive services include molecular diagnostics, genetics, HLA testing, and infectious disease assessments, catering to a diverse clientele spanning statutory and private insurance segments.
Given that approximately 10.5% of Germany’s population, or roughly 8.7 million individuals, are covered by private health insurance (PHI), as estimated by the Association of Substitute Health Insurance Funds (vdek) in 2022, the partnership expands a strong market channel for Mainz Biomed. Moreover, a substantial portion of these PHI beneficiaries fall within the critical 50-74 age range, the target demographic for CRC screening in Germany.
Darin Leigh, Chief Commercial Officer of Mainz Biomed, expressed optimism about the collaboration, stating, “Our steadfast commitment to integrating ColoAlert into Germany’s statutory health insurance reimbursement framework underscores our growth aspirations. Partnering with Dr. Buhlmann’s laboratory not only has the potential to further expedite the adoption of ColoAlert in Germany, but also aligns with our core mission of facilitating early CRC detection globally. We look forward to leveraging her network across both public and private sectors and benefitting from her considerable expertise in pioneering molecular diagnostic tests.”
Dr. Buhlmann also shared her enthusiasm, saying, “ColoAlert’s innovative approach has the potential to dramatically improve CRC testing. Its capacity to identify DNA biomarkers represents a significant enhancement to the conventional iFOBT (Fecal Occult Blood Test) tests, promising convenience and precision for patients. There’s a pressing need to enable improved access to alternative testing options for early CRC detection and therefore we are dedicated to championing the benefits of ColoAlert, not only in Germany but also across European markets, with physicians, health authorities and private clients.”
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