Prenetics Announces Tencent's US$30 Million Investment in Insighta, Strengthening Strategic Partnership for AI-Driven Early Cancer Detection
Prenetics Global Limited - Class A Ordinary Share (PRE)
Company Research
Source: PR Newswire
HONG KONG, Oct. 15, 2024 /PRNewswire/ -- Prenetics Global Limited (NASDAQ: PRE), a leading health sciences company, today announced that Tencent has made a strategic US$30 million investment in Insighta, a Hong Kong-based early cancer detection company. This investment values Insighta at US$200 million and underscores Tencent's endeavor to advancing AI-powered innovations in healthcare.Following the transaction, Prenetics' stake in Insighta will be reduced from 50% to 35%. Insighta's co-founders will retain their 50% shareholding. As part of the agreement, Prenetics has received US$30 million in cash from the sale of secondary shares to Tencent, boosting its pro forma cash and other current short-term assets[1] to over US$90 million at closing of the transaction. Tencent will also gain a seat on Insighta's Board of Directors, to be held by Alexander Ng, President of Tencent Healthcare.Insighta's early cancer detection platform is powered by its proprietary FRAGMA technology, a cutting
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Sec Filings
- 11/14/24 - Form SC
- 11/7/24 - Form SCHEDULE
- 10/15/24 - Form 6-K
- PRE's page on the SEC website