Mainz Biomed Raises $6 Million in Private Placement to Fund Operations and Shift Focus to Pancreatic Cancer Detection

Mainz Biomed has announced a $6 million private placement to fund operations and transition its focus to pancreatic cancer detection in the US. The financing will be completed in two tranches of $3 million each through convertible non-redeemable preferred stock. Net proceeds will be used to fund ongoing operations, address liabilities, and preserve the company's ability to operate while pursuing strategic initiatives. The company's flagship product is ColoAlert, an early-detection diagnostic test for colorectal cancer.