Mainz Biomed Announces 6.0 USD Million Private Placement and Strategic Update
Company to Focus on Pancreatic Cancer Detection Business in the U.S., Strategic Asset Sales and Future Strategic Transaction
BERKELEY, Calif. and MAINZ, Germany, Feb. 17, 2026 (GLOBE NEWSWIRE) -- Mainz Biomed N.V. (NASDAQ: MYNZ), a molecular genetics diagnostic company specializing in the early detection of cancer, announced a series of strategic transactions designed to strengthen its liquidity position, transition the business to a focus on its pancreatic cancer detection program in the U.S., and provide flexibility as the Company continues its operations while evaluating growth opportunities and broader strategic alternatives.
On February 13, 2026, Mainz Biomed N.V. (the “Company”) entered into a securities purchase agreement for a 6.0 USD million private placement with investor David Lazar. The financing will be completed in two tranches of 3.0 USD million each through the issuance of Convertible Non-Redeemable Preferred Stock. The first 3.0 USD million closing was completed on February 13, 2026. The second 3.0 USD million closing is expected to occur following receipt of required stockholder approvals and prior to April 15, 2026. Net proceeds from the private placement are expected to be used to fund ongoing operations, address outstanding liabilities, and preserve the Company’s ability to operate while it pursues strategic initiatives. In conjunction with the financing the Company named David Lazar as Chairman of the Board of Directors.
“Completing this financing provides the Company with critical runway and stability,” said David Lazar, Chair of the Board of Mainz Biomed. “Our immediate focus is to continue to further develop and evaluate opportunities to grow our pancreatic screening program in the U.S. and stabilize the business. At the same time, we will be disciplined and thoughtful as we explore additional strategic alternatives that can unlock long-term value for stockholders.”
As the Company transitions its focus on developing its pancreatic cancer screening business in the U.S., it will continue to evaluate opportunities to sell its colorectal cancer screening assets while it also winds down its German subsidiary. The Company is currently in discussions with several parties interested in its colorectal cancer assets. This allows the Company to significantly reduce its operating expenses and extend its runway.
For a complete description of the details of the transaction described above, please review the Company’s Form 8-K filed with the SEC on February 17, 2026.
About Mainz Biomed NV
Mainz Biomed develops market-ready molecular genetic diagnostic solutions for life-threatening conditions. The Company’s flagship product is Colo
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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