NEW YORK – Burning Rock Biotech this week reported a 7 percent year-over-year decline in its second quarter revenues to RMB 135.5 million ($19.0 million) from RMB 146.3 million. For the three months ended June 30, its central laboratory channel revenues dropped to RMB 48.8 million from RMB 66.2 million, in-hospital channel revenues rose to RMB 59.9 million from RMB 53.8 million, and pharma research and development channel revenues grew to RMB 26.9 million from RMB 26.2 million. The Guangzhou, China-based company had a net loss of RMB 108.0 million for Q2, compared to a net loss of RMB 131.2 million a year ago. Its Class A ordinary shares had a net loss of RMB 1.05 per share compared to a net loss of RMB 1.28 a year ago, while its Class B ordinary shares had a net loss of RMB 1.05 per share compared to a net loss of RMB 1.28 per share a year ago. The company's R&D costs retreated to RMB 65.0 million in Q2 from RMB 95.8 million a year ago, while its SG&A costs rose to RMB 141.7 million from RMB 140.4 million. At the end of Q2, Burning Rock held RMB 532.5 million in cash and cash equivalents and RMB 505,000 in restricted cash.
iHope Genetic Health said this week that it has selected the first clinical sites participating in its initiative to increase genomic testing access globally. The program, run by the Genetic Alliance and funded by Illumina, provides free genomic testing, including clinical exome and genome sequencing, to underserved children with suspected genetic disorders. Testing will be provided through the iHope Genetic Health laboratory network, currently consisting of three labs. The program expects to provide testing to hundreds of patients this year and thousands in the next two years. The clinical sites include Child and Youth Care Zimbabwe; Hospital Edgardo Reba gliati Martins-ESSALUD, Instituto Nacional de Ciencias Neurológicas, and Instituto Nacional de Salud del Niño in Peru; Padrino Children's Foundation in Mexico; the Rare Disease Ghana Initiative; Al Jalila Children's Specialty Hospital in the United Arab Emirates; Children's Hospital of Philadelphia; and Mendel – Centre for Genetic Education in the Republic of North Macedonia. The plan is to expand the network to at least 20 clinical sites and six laboratories in 2025, iHope said.
Prenetics Global said this week that it has acquired Europa Sports Partners and its subsidiary Hubmatrix for an undisclosed amount of cash. Europa is a US-based sports nutrition company that specializes in distributing nutritional and sports supplements, sports drinks, and accessories to gyms, studios, and fitness centers. Hubmatrix is a direct-to-consumer fulfillment provider of health and wellness brands. Prenetics, headquartered in Hong Kong, said the acquisition supports its recent entry into consumer health and wellness with IM8, a new brand that focuses on consumer health products.
Accenture, through its Accenture Ventures arm, has made a strategic investment of undisclosed amount in Earli, a biotechnology company developing a synthetic biology-based early cancer detection technology. Earli's technology uses genetic constructs that switch on only in cancer cells and force them to produce any signal protein of choice. The proteins are then used for diagnostic imaging or activating the immune system against the cancer, according to the company's website. Earli, based in Redwood City, California, will use the new funding to expand its collaborations with global health and pharma companies. Accenture Ventures said this week that the company is also joining Project Spotlight, its engagement and investment program for companies developing disruptive technologies.
The Maritime Newborn Screening program in Canada's Nova Scotia province this week expanded to include genetic testing for spinal muscular atrophy, a progressive neuromuscular disorder caused by mutations in the SMN1 gene. By screening for the disorder at birth, the government hopes infants diagnosed with spinal muscular atrophy will be able to receive treatment and care management earlier. The Maritime Newborn Screening program now tests for two dozen conditions.
In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on GenomeWeb.