Prenetics announces Danny Yeung as the CEO and investor having led a US$2.65m Seed funding round

– HONG KONG – Prenetics, a DNA biotechnology company, announces Danny Yeung has joined the company as it’s CEO and investor, as well as having led a $2.65m usd strategic seed funding round of high profile international investors into the company.

Danny most previously was CEO of Groupon East Asia after having his start-up uBuyiBuy acquired by Internet Giant Groupon in 2010. During Danny’s tenure at Groupon, he grew annual sales to over $130m usd and led a team of 330.

“Healthcare is prime for disruption and ultimately I want to help people live better lives with the use of DNA technology. While this is a new industry for me, I believe my entrepreneurial experience of having founded 3 companies, each in different industries will allow me to leverage all I’ve learned and make an impact within healthcare” said, Danny Yeung, Chief Executive Officer Prenetics.

Along with the added firepower of Danny joining the company, PreneticsTM officially launches today a new DNA based Non-Invasive Prenatal Test (NIPT) for the early detection of fetal health problems. The Prenetics V ® test provides comprehensive testing as early as the tenth week of pregnancy, with 99.9% accuracy and results in just 5-7 days. DNA Technology developed at Stanford University

Based on advanced DNA technology developed at Stanford University, Prenetics V ® test requires just a simple blood test from the expectant mother to detect a total of 16 conditions including Down Syndrome, Edwards Syndrome and Patau Syndrome, the 3 most common chromosomal abnormalities during pregnancy. It provides up to 200 times greater accuracy over traditional screening tests and with no risk of harm to the fetus as you would have with invasive procedures such as CVS or Amniocentesis.

“Early and accurate prenatal testing is essential because it contributes to better pregnancy management and also offers peace of mind to expectant parents. With traditional screening methods, accuracy is between 80-90%, this means 1 out of 5 pregnancies may not be properly diagnosed. This is a significant figure in the medical world and we intend to use DNA technology to solve this problem” said Dr Lawrence Tzang, Prenetics Co-Founder and Chief Scientific Officer.

A-List Celebrity Gigi Leung on-board as Prenetics V ® test brand ambassadorTo raise public awareness for the Prenetics V ® test, Hong Kong Actress, Singer and Mother-To-Be, Gigi Leung will be starring in a collaborated online and offline marketing campaign to begin this month. “When I found out I was pregnant, the feeling was amazing! The concern then became to make sure my baby was healthy. My husband and I wanted the best for our baby and ended up choosing the Prenetics V® test. I would absolutely recommend it to all pregnant women to take the Prenetics V® test.” Said Gigi Leung. To watch Gigi’s experience with the Prenetics V® test, just go to www.prenetics.com.

Technology, Expertise & Resources
“A lot of women with healthy, normal pregnancies are getting inaccurate results, causing them undue stress about whether something is wrong, and leading to unnecessary invasive testing. Research has shown the introduction of NIPT will reduce the need for invasive procedures by up to 89%.” Danny Yeung, Prenetics Chief Executive Officer, said.

To ensure that expectant parents and their medical providers have access to highly reliable results, Prenetics has built an ISO-accredited and World Health Organization-certified diagnostics laboratory in Hong Kong. This laboratory capitalizes on the power of next-generation DNA sequencing technology and a highly optimized algorithm to provide clearer resolution.

“Prenetics has the technology, expertise and resources to enable DNA testing to be a standard in the healthcare industry. We are extremely excited about our company prospects and believe the Prenetics V® test is just the 1st of many additional DNA based tests that we will offer. Our goal is to improve lives as we see a major paradigm shift from reactive to preventive medicine and we want to be at the forefront of this revolution.” Danny concluded.

“Possible Unicorn Sighting Here. The latest advances in DNA Technology aren’t yet available to the masses, especially in Asia. It takes a combination of a successful serial entrepreneur like Danny and top scientists like the Prenetics team to change that. Prenetics is in a multi-billion dollar industry and primed to disrupt healthcare in Asia.” Said Khailee Ng, Managing Partner at 500 Startups, an institutional investor in Prenetics.

The Prenetics V® test is available exclusively throughout Obstetrics & Gynaecology Professionals in Hong Kong. For expecting parents requesting a test, please visit the www.prenetics.com website and click on “Parents Get Started” to learn more.

About Prenetics

PreneticsTM is a biotechnology company that aims to give millions of men and women vital information about the DNA health of their bodies to help them confidently make choices about their lives. The flagship product, the PreneticsTM V® Test is highly accurate, safe, and non-invasive, providing parents a higher level of prenatal care. The team consists of top-tier engineers, scientists and healthcare professionals who work together to provide vital information to parents.

PreneticsTM uses next-generation DNA Sequencing technology with custom automation in its ISO-accredited and World Health Organization-approved diagnostics laboratory. Many years of research and development now pave the way for PreneticsTM to make a difference to society.

- DisclaimerNews, data and statement included in this release are intended exclusively for general information purposes. Talent4Boards accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the adequacy or accuracy of the information. No data or statement in this release should be considered for decisions about securities referred. Product and brand names used in this release maybe trademarks or registered trademarks of their respective owners.

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