LONDON--(BUSINESS WIRE)--Multimedia Graphic has been added and after the second paragraph of release an additional paragraph has been added.
The corrected release reads:
ALIBABA-BACKED PRENETICS ACQUIRES UK-BASED DNAFIT, A GLOBAL LEADER IN CONSUMER GENETIC TESTING
- With over US $50m in funding from Alibaba Hong Kong Entrepreneurs Fund and Ping An Insurance, this marks Prenetics 1st acquisition
- Prenetics operations to have a global footprint, spanning Hong Kong, Singapore, Malaysia, Thailand, Vietnam, Philippines, Taiwan, South Africa, U.K., and USA
- DNAFit working alongside blue chip firms including LinkedIn, Talk Talk and Channel 4
- The expected annual market size for consumer genetic testing is expected to be US $50 Billion by 2026
Prenetics, a leading genetic testing & digital health company, has acquired UK-based DNAFit, a leading direct to consumer genetic testing company with sales in over 40 countries.
Prenetics adds a proven B2C channel via the acquisition of DNAFit, supplementing its current strength in B2B product partnership offerings through large insurers and corporates. This acquisition further sets Prenetics on track of achieving its goal of empowering millions of people globally with powerful and actionable genetic information.
With personal genetic services due for explosive growth, Prenetics operates as one of the only genetic testing companies with a global presence. In a research study by Arthur D. Little on the global consumer genetic testing market, the annual market size is expected to grow from US $1.3 Billion in 2019 to US $50 Billion in 2026. This demand has already been witnessed with millions of individuals around the world being genotyped by companies such as 23andme and Ancestry.com.
Danny Yeung, CEO and co-founder of Prenetics said: “Our mission is to give everyone the power to be in control of their own health. DNAFit is a pioneer in direct to consumer genetic testing and has developed a strong reputation in the industry. We are extremely excited to have DNAFit as part of our international growth strategy to help people lead healthier, more active lives by empowering them with personalised, preventive, and actionable genetic information.
Avi Lasarow, CEO of DNAFit said: “In joining forces with Prenetics, this takes us one step further in our mission to change the way individuals adapt their lifestyle behaviours by understanding how genetics plays an important role in personalised & preventive health. In just a short time, Prenetics has already empowered several hundred thousand individuals with valuable health information. Through this acquisition, we will work together to underpin the industry's growth as consumers seek more help in their quest for healthier lifestyles.”
DNAFit is a wellness genetics company which matches both ordinary individuals and elite sportspeople to the diet, nutrition and fitness plans that best suit their DNA. Since 2013, it has helped people globally make better informed decisions around their diet, nutrition and fitness goals.
DNAFit will be expanding its reach into corporate wellness as well as growing its existing consumer business following the acquisition. Having already worked closely with a number of blue chip companies and brands, such as LinkedIN Global, Talk Talk, Channel 4, Disney Europe, PUMA, BNP Paribas and Alexander McQueen, DNAFit has already achieved initial success in embedding its products in HR programmes to improve employee benefits worldwide.
Cindy Chow, Executive Director of Alibaba Hong Kong Entrepreneurs Fund said: “Part of our mission here at Alibaba is to help companies we invest in go global and to make a big impact. We have been highly impressed with what Prenetics and DNAFit have achieved in making health a choice for many. The consumer market globally for genetic health testing is growing at an incredible speed and we look forward to working closely with both companies in the field of genetics.”
DNAFit will continue to operate its own brand which enjoys a leading presence among consumers worldwide. DNAFit’s founding and core team – CEO Avi Lasarow will continue to lead the business. In addition, Avi Lasarow is appointed CEO of Prenetics International and a member of the Prenetics board. Prenetics Limited will officially now be Prenetics Group Limited with Danny Yeung as CEO, overseeing a team of 120+ in 10 countries.
Notes to Editors:
About Prenetics Group:
Prenetics is a leading genetic testing/digital health company headquartered in Hong Kong and London, with offices in 10 countries globally. They empower individuals with valuable health information. With a simple saliva sample, individuals can discover how their genes affect their diet, drug response, disease and cancer risk. This information enables people to make health a choice, by living healthier and proactively preventing diseases.
For more information, please visit: https://prenetics.com/en/
a.DNAFit is a UK based genetics company that reports on genetic markers related to fitness and nutrition. “Since we began in 2013, we’ve taken cutting edge science out of the laboratory and into the hands of tens of thousands of people, helping them understand how their DNA affects their response to exercise and nutrition changes, to change the way we train and eat, one DNA sample at a time.”
a.In 2016 the brand delivered the first ever clinical study* that demonstrated the potential of genetically guided training. A peer-reviewed study on the DNAFit algorithm found that training according to an individual’s genetics gave almost three times the performance increase over unguided training.
*The DNAFit study is ‘A genetic-based algorithm for personalized resistance training’ by Jones N, Kiely J, Suraci B, Collins DJ, de Lorenzo D, Pickering C, Grimaldi KA. Biol Sport. 2016;33(2):117-126 and can be downloaded in full here. https://www.dnafit.com/downloads/DNAFit%20Clinical%20Study%20VV1.pdf
a.DNAFit adheres to a strict Code of Practice around ethics and policies, which can be viewed here:https://www.dnafit.com/who-we-are/
b.DNAFit has passed the ISO 27001 Stage 2 Audit, the standard created by the International Organisation for Standardization, which deals with information security management, and positions DNAFit as the leading genetics company in terms of data security
World Class Sporting Credentials:
a.DNAFit was recently announced as extended partners of the Egyptian Football Association ahead of the upcoming FIFA World Cup. Every member of the Egypt squad, including Liverpool’s Mohammed Salah uses DNAFit’s genetic tests to inform their individual player training and diet plans, creating arguably the most hyper personalised approach to sports science of any nation at the FIFA World Cup.
Department for International Trade
a.DNAFit has been awarded the Greenlight from the DIT marking the company as a "unique disruptive technology of exceptional global potential". The wider programme works with entrepreneurs with exceptional innovative technologies and intellectual property from all over the world, and taps into the Department for International Trade's unique global support infrastructure and network.