Mainz Biomed, Quest Diagnostics To Commercialize NextGen Colorectal Cancer Screening Test; Stock Up

(RTTNews) - Mainz Biomed N.V. (MYNZ), Thursday announced a collaboration with Quest Diagnostics Inc. (DGX) to commercialize the former's NextGen screening test for colorectal cancer, called ColoAlert test.

The stool-based test, utilizing polymerase chain reaction technology, detects colorectal cancer tumor DNA to identify cancer in early stages.

Under the deal, Quest will provide clinical trial laboratory services for Mainz Biomedss ReconAAsense study.

Additionally, Mainz Biomed will provide Quest with the option to exercise semi-exclusive rights to provide testing services based on the test kit for an eighteen-month period, assuming its approval by the FDA, the company stated.

Currently, Mainz's stock is climbing 26.42 percent, to $4.78 on the Nasdaq.