Prenetics announces Tencent made a $30M investment in Insighta

Prenetics Global (PRE) announced that Tencent (TCEHY) has made a strategic US$30M investment in Insighta, a Hong Kong-based early cancer detection company. This investment values Insighta at US$200M and underscores Tencent’s endeavor to advancing AI-powered innovations in healthcare. Following the transaction, Prenetics’ stake in Insighta will be reduced from 50% to 35%. Insighta’s co-founders will retain their 50% shareholding. As part of the agreement, Prenetics has received US$30 million in cash from the sale of secondary shares to Tencent, boosting its pro forma cash and other current short-term assets1 to over US$90 million at closing of the transaction. Tencent will also gain a seat on Insighta’s Board of Directors, to be held by Alexander Ng, President of Tencent Healthcare.