Covid-Testing Unicorn Is Plotting Bets for Post-Virus World
- Prenetics merged with SPAC of Hong Kong tycoon Adrian Cheng
- The biotech company aims to hit $640 million in sales by 2025
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In less than a decade, Prenetics Group Ltd. transformed itself from a DNA-kit maker to a major Hong Kong Covid-19 test provider. Now as the coronavirus ebbs in the city -- and the rest of the world adjusts to living with it -- Chief Executive Officer Danny Yeung is already planning its next pivot.
Prenetics, whose shares started trading Wednesday after it merged with the blank-check company of property tycoon Adrian Cheng, is launching in the coming months a non-invasive stool DNA test for early detection of colorectal cancer and an at-home blood test tool to check things including food sensitivity and testosterone levels.