Insighta’s Dennis Lo (left) and Danny Yeung / Photo credit: Prenetics
Prenetics, a genomics-driven health sciences company, has established a US$200 million joint venture with Dennis Lo, an expert in non-invasive prenatal testing and liquid biopsy, to develop and commercialize a breakthrough early detection screening test for several types of cancer.
The JV, named Insighta, is a 50/50 venture valued at US$200 million, making it the largest private life sciences deal in Hong Kong and one of the largest in the region. Prenetics will provide US$100 million in cash and stock, while Lo will contribute his knowledge and intellectual property.
Insighta is led by Lo as its chair and Danny Yeung as its CEO. Lo is a professor at the Li Ka Shing Faculty of Medicine at the Chinese University of Hong Kong (CUHK) and the scientific director of the Center for Novostics. Yeung is the CEO of Prenetics, with a track record in genomics and precision oncology.
According to a statement, Insighta’s cancer screening products will be based on Fragma, a breakthrough tech developed by a team led by Lo, which looks at fragmentation patterns of cell-free DNA.
Insighta plans to launch its first test, named Presight, in 2025, which will focus on liver and lung cancers – the most lethal cancers in mainland China and across Asia. In 2027, Insighta plans to launch Presight One, an early detection test capable of detecting more than 10 different cancers.
By 2030, early cancer detection screening opportunities are estimated to be worth US$6 billion in Asia on an annual basis, Prenetics estimates based on internal data.
The transaction, expected to close in July, is subject to customary closing conditions, including applicable regulatory approvals.
Editing by Jaclyn Tiu
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