5 January 2023
Clifford Chance advises Prenetics on its acquisition of majority stake in ACT Genomics
Leading international law firm Clifford Chance has advised Prenetics Global Limited (NASDAQ: PRE) in its acquisition of a majority stake in ACT Genomics Holdings Company Limited ("ACT"), an Asia-based genomics company specialising in precision oncology with operations in Hong Kong, Taiwan, Japan, Singapore, Thailand and in the UK. With the addition of ACT's technologies, capabilities and team, it is expected that Prenetics will be well-positioned to accelerate the utilisation of genetic information throughout a cancer patient's journey and to achieve its goal to democratise testing and make cancer genomics accessible to all. The deal enables Prenetics to tap into the global precision oncology market worth more than US$80+ billion.
The Clifford Chance team was led by partner Bryan Koo and consultant Ryan Wong, and involved the following lawyers across various practices, including:
- Associates Jason Chow and Petra Ho, legal assistant Winky Su and trainee solicitors Annalie Chow, Priscilla Au-Yeung and Charmaine Lee who advised on the M&A aspects;
- Senior associates Iris Mok and Jeannie Lam who advised on intellectual property aspects;
- Foreign legal consultant Yuling Geng who advised on US law; and
- Litigation and Dispute Resolution partner Jonathan Wong.
Founded in 2014, Prenetics is a major global diagnostic and genetic testing company listed on NASDAQ with the ticker PRE and is led by visionary entrepreneur, Danny Yeung, with operations across nine locations. It develops consumer genetic testing and early colorectal cancer screening and provides COVID-19 testing, rapid point of care and at-home diagnostic testing and medical genetic testing. ACT Genomics provides treatment planning, immunotherapy evaluation, cancer relapse & drug resistance monitoring, as well as cancer risk assessment services.