ADDING and REPLACING 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 1
    st 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

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 1
    st 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/

About DNAFit:

Introduction: www.dnafit.com

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.”

Research:

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

Ethics/Data Security:

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.

Contacts

DNAFit
Sarah Rice
sarah.rice@wcommunications.co.uk
07769680116
or
DNAFit@wcommunications.co.uk