2 Million Cancer Diagnoses And 600,000 Cancer Deaths Expected In 2024 – Prevention Is Key To Treatment, And Mainz Biomed Is Leading The Charge
Detroit, Michigan
|
February 02, 2024 08:35 AM Eastern Standard Time
By Faith Ashmore, Benzinga
The global population is experiencing a scary increase in colorectal cancer, especially among young people. Colorectal cancer (CRC) diagnoses have been steadily rising since the 1990s; in 1995 the proportion of these cancer cases in adults younger than 55 was 11%, and in 2019, the number was 20%. It is recommended that adults start screening for colorectal cancer at age 45 but with the increase in prevalence, the value of early detection cannot be understated.
While doctors still aren’t sure of the reason behind this increase, they are urging the public to take these numbers seriously and embrace preventative measures for early detection. Companies like Mainz Biomed (NASDAQ: MYNZ), a company that specializes in developing molecular genetic diagnostic solutions for life-threatening conditions, are leading the charge in helping make that happen. This company has created ColoAlert®, an innovative product that addresses the need for easier and more accessible cancer screenings for quick detection and treatment of colorectal cancer. The non-invasive and user-friendly test aims to make colorectal cancer screening fast, simple and precise.
Once launched in the U.S. Mainz Biomed's ColoAlert will compete with Cologuard from Exact Sciences Corporation (NASDAQ: EXAS), a well-established company that commands a market cap of over $10 billion. The key difference between Cologuard and ColoAlert is that ColoAlert requires far less stool collection than its competitor, a testament to ColoAlert’s technology. This not only increases convenience for the patient but also cuts down on shipping costs and lab time. The only other detection model outside of a traditional colonoscopy is a blood-stool test; however, these tests can only detect cancer, not pre-cancerous polyps.
Mainz Biomed has partnered with Liquid Biosciences to ensure its cutting-edge products are top-of-the-line. Recently, Mainz Biomed conducted a multi-center international clinical trial in Germany and Norway to evaluate the effectiveness of incorporating mRNA biomarkers into ColoAlert®. The study yielded impressive findings, demonstrating a high sensitivity of 94.4% and specificity of 97.5% for detecting CRC. Additionally, the screening test showed a sensitivity of 80% and specificity of 95.2% in detecting precursor lesions, including advanced adenomas that may develop into CRC. In other words, ColoAlert is designed to detect pre-cancerous polyps as well as identify individuals who have colorectal cancer. The CDC reports that colorectal cancer is the second most fatal cancer in the United States and Europe. However, it is also the most preventable, with early detection leading to survival rates above 90%. ColoAlert can be instrumental in preventive care for colorectal cancer.
The company reports it has experienced success in Germany, where the product is available through labs, industry partnerships and online for purchase. In 2024, Mainz Biomed is looking to replicate this success in the U.S. and is planning to launch a pivotal trial, seeking FDA approval for its product. If successful, the company will look to partner with a network of labs across the country to increase accessibility to its product with the hope that more Americans will be able to detect pre-cancerous polyps before it is too late.
With the American Cancer Society predicting over 600,000 cancer deaths and the equivalent of 5,000 cancer diagnoses each day in 2024, prevention is key to treatment. The preventive healthcare market has gotten a lot of attention in recent years, and it is expected to reach $415 billion by 2031 with a CAGR of 9.7% from 2024 to 2031. Mainz Biomed’s ColoAlert is a great example of the power of technology that can screen for pre-cancerous markers. Mainz Biomed's dedication to pushing the limits of diagnostic technology, enhancing accessibility and its growth trajectory potentially establish it as a formidable presence in the industry, setting it apart from its competitors.
Featured photo by Artur Tumasjan on Unsplash.
Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.
This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice.
Contact Details
Benzinga
+1 877-440-9464
Company Website
