IPO Edge and the Palm Beach Hedge Fund Association hosted a fireside chat with the CEO & Co-Founder of Prenetics Limited and the CEO & Director of Artisan Acquisition Corporation. Following the recent completion of the merger, newly-listed Prenetics now trades under the ticker “PRE” on Nasdaq. Topics included the SPAC merger with Artisan, management’s background, an overview of Artisan, Prenetics’ global footprint, recent results, and plans for the future following the business combination. The live event featured Prenetics CEO & Co-Founder Danny Yeung and Artisan CEO & Director Ben Cheng joined by IPO Edge Editor-in-Chief John Jannarone and Editor-at-Large Jarrett Banks in a moderated video session lasting approximately 60 minutes and including a Q&A with the audience.
Founded in 2014, Prenetics is a major global diagnostics and genetic testing company with the mission to bring health closer to millions of people globally and decentralize healthcare by making the three pillars — Prevention, Diagnostics and Personalized Care — comprehensive and accessible to anyone, at anytime and anywhere. Prenetics is led by visionary entrepreneur, Danny Yeung, with operations across 9 locations, including United Kingdom, Hong Kong, India, South Africa, and Southeast Asia. Prenetics develops consumer genetic testing and early colorectal cancer screening; provides COVID-19 testing, rapid point of care and at-home diagnostic testing and medical genetic testing. To learn more about Prenetics, visit www.prenetics.com.
Messrs. Yeung and Cheng discussed:
- Background of Danny, Artisan and Prenetics’ Management Team
- Global footprint, success in 2 markets and how this can be replicated in other geographies
- Strong financial profile and recent results
- Plan to use the proceeds and cash on balance sheet to generate sustainable revenue
- Founder’s vision to ultimately build a health ecosystem
About the Speakers:
Danny Yeung is the Co-Founder of Prenetics and has served as Chief Executive Officer since its inception in 2014. Mr. Yeung’s journey into healthcare started as a way to utilize his extensive entrepreneurial career into making an impact for society. Mr. Yeung’s vision from day 1 was to always turn Prenetics into a global health company, recruiting the best talent, and to give everyone the power to be in control of their own health.
Prior to Prenetics, Mr. Yeung was a Founding Partner at SXE Ventures, having led multiple investments in genetic testing companies and in Honey Science, which was acquired by Paypal for US $4 billion in 2019. Mr. Yeung had also founded uBuyiBuy in 2010, which was subsequently acquired by Groupon. Prior to leaving Groupon in early 2014, Mr. Yeung served as CEO of Groupon East Asia, leading it to be the largest e-commerce company in the region. Mr. Yeung’s entrepreneurial journey started at the age of 25 when he ventured into franchising Hong Kong dessert chain “Hui Lau Shan” into the USA. After exiting Hui Lau Shan, Mr. Yeung successfully ventured into hospitality furniture and executed multi-million-dollar projects with MGM globally. Mr. Yeung’s life motto is “Play Hard, Work Harder”.
Ben Cheng is the Chief Executive Officer and Director of Artisan. He is also currently the Managing Partner at C Ventures, where he leads its sought-after deals and actively engages in major venture capital and private equity investments across the sectors of healthcare, consumer and technology. Named as “China’s Top 20 Most Outstanding Investor” by Lieyun.com in 2020, Mr. Cheng has helped execute many investments in the aforementioned “unicorns”, such as Xpeng Motors, NIO, JD Logistics, Gojek, FTA, Xiaohongshu and Pony.ai.. Mr. Cheng is also a member of the Advisory Committee of Vertex SEA Fund, a subsidiary of Temasek Holdings, and a member of Venture Committee of Hong Kong Venture Capital and Private Equity Association.
Mr. Cheng has also served as a General Manager at New World Development since March 2016 and the Chief Investment Officer of Private Equity Department at ARTA TechFin Corporation Ltd since July 2021. Prior to his current roles, Mr. Cheng was an investment banker at Bank of America Merrill Lynch and Standard Chartered Bank. Mr. Cheng holds a bachelor’s degree in Quantitative Finance with honors from the Chinese University of Hong Kong
Alan Hatfield, Director of Research