Mainz Biomed Signs $6M Financing Agreement
Mainz Biomed 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 entered into a securities purchase agreement for a $6M private placement with investor David Lazar. The financing will be completed in two tranches of $3M each through the issuance of Convertible Non-Redeemable Preferred Stock. The first $3M closing was completed on February 13, 2026. The second $3M n 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. 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.
