Fresh2 Group Ltd. (NASDAQ: FRES)
Fresh2 Group Ltd. (NASDAQ: FRES) is a biotechnology company focused on early cancer screening and detection. The company develops, distributes and deploys accessible early disease detection devices with an aim of changing the way people approach cancer screening. Fresh2 Group is a highly innovative company and an early thought leader and developer of multi-cancer screening technology, which is gaining significant acceptance.
Fresh2 Group has clinical laboratories in the United States and China, with 142 issued patents as of March 31, 2021. Its corporate headquarters is located in Shanghai, China, while its U.S. headquarters is situated in Philadelphia, Pennsylvania. The company operates two certified clinical laboratories in China and one CLIA registered clinical laboratory in the United States.
The company is entering the business-to-business e-commerce food business with the formation of wholly owned subsidiary Fresh2 Technology Inc. and the acquisition of Fresh2 Ecommerce Inc.
Cancer Differentiation Analysis (CDA)
Cancer Differentiation Analysis (CDA) is Fresh2 Group's approach to detecting cancer and pre-cancerous diseases. CDA uses the natural biophysical properties of blood and cellular proteins to discover cancerous environments before the tumors even form.
Most liquid-based cancer screening and detection technologies focus on biochemical signals, like conventional biomarkers and genomic signals, such as ct-DNAs and CTCs (circulating tumor cells in the blood). These typically only determine whether or not cancer has occurred at a fixed point in time.
CDA technology combines an assessment of existing biomarkers with the biophysical properties and cellular proteins that signal the lead-up to serious health conditions and cancer. It is also used to pinpoint where cancer is most likely located and predict where the risk is highest in the future – all through a standard blood test, at a competitive price point.
Fresh2 Group's CDA is powered by a database of over 200,000 samples and cases and serves as a new way to approach disease and cancer screening. The device uses an integrated system of sensors to detect several biophysical signals at the cellular, protein and molecular levels. CDA leverages a proprietary algorithm to synthesize the data, effectively generating a personalized risk assessment for evaluated patients.
Through CDA technology, Fresh2 Group aims to address a number of goals, including:
- Innovate – Fresh2 Group is an innovator in the cancer screening industry, with CDA research ongoing since 2008, and commercial operations beginning in 2015. Fresh2 Group considers itself a thought leader in developing multi-cancer screening.
- Detect – Fresh2 Group detects early signals of threatening cancer and its location within the body.
- Identify – CDA identifies the risks of up to 26 different types of cancers with high sensitivity and specificity rates.
- Provide – The company's platform provides multi-level, multi-parameter analysis using proprietary diagnostic algorithms, which results in accurate and easy-to-understand results.
- Proven – A fully operational analysis of over 200,000 test samples has been run to date. CDA technology has been shown to identify pre- and early-stage cancers in patients previously diagnosed as "cancer-free" through traditional methods.
- Biophysical Properties – CDA analyzes biophysical properties in human blood and the correlation between biophysical properties and cancer occurrence.
Fresh2 Group is exploring detection of other types of cancers leveraging its innovative CDA technology and multi-cancer screening and detection tests, which could open significant opportunities on the global cancer diagnostics market.
According to a report by Grand View Research, the cancer diagnostics market is expected to reach $249.6 billion worldwide by 2026 (https://nnw.fm/L7css). The market is expected to grow at a CAGR of 7% during the forecast period.
Dr. Chris Yu is the Co-Founder and Chief Executive Officer of Fresh2 Group. He has enjoyed a successful career as an innovator in life sciences, technology and engineering. Dr. Yu has worked for three U.S. Fortune 500 companies and is the first/principal inventor of over 300 patent applications spanning semiconductors, materials and life science. He has a proven history of developing cutting-edge products with long-term profit and sustainability. Dr. Yu was born to a medical doctor's family and went to medical school. He later switched his major to physics and received his bachelor's and master's degrees in physics from the University of Missouri-Kansas City Campus and a doctoral degree in physics from Pennsylvania State University. Both of his dissertations addressed innovative detection techniques.
Dr. Herbert Yu is the Co-Founder and Chief Medical Officer of Fresh2 Group. He is a renowned expert in molecular epidemiology, with training in medicine and chemical biochemistry. Dr. Yu has a 20-year career in leading-edge cancer research, including breakthrough work in areas of carcinogenic factors. He is a professor and research director at the University of Hawaii and an adjunct professor at Yale University. He received his bachelor's degree in medicine from Shanghai First Medical College. Dr. Yu also received a science degree in epidemiology and a Ph.D. in clinical biochemistry from the University of Toronto.
Jingiu (Edward) Tang is the company's Chief Financial Officer. He previously served as a global internal auditor at Natuzzi S.p.A. Mr. Tang also worked at Beijing Dongshen CPA and Shanghai De'an CPA, providing external audits, finance and tax advisory services across different industries and sectors. He is a Certified Public Accountant in Australia. Mr. Tang received his bachelor's degree in accounting from Charles Sturt University in Australia, his MBA from Charles Sturt University, and his bachelor's degree in law from Southwest University of Science and Technology in China.
Weidong Dai is the company's China General Manager. He previously served as a general partner at Stirrfir Investment Management Co. Mr. Dai has also served as the chairman of RTS Management (Shanghai) Co., and as managing director of Hong Kong Pro-Health Technology Co. and Shanghai Pro-Health Medical Devices Co. He has published a number of medical research papers and research articles in professional journals. Mr. Dai was awarded the Hong Kong Industrial Award for a medical device that he led in research and development. He earned his bachelor's degree in medicine from Anhui Medical University, a master's degree in medicine from the Sun Yat-San University of Medicine, and an Advanced Certificate of the EMBA CEO Program from Fudan University, School of Economics.