MAINZ BIOMED N.V. Annual Report - How They Did This Year

I’ve put together this guide to help you understand Mainz Biomed’s performance over the past year. The company is undergoing a massive transformation, and it is important to look past the headlines to see what is really happening with your investment.

1. The Big Pivot: From Cancer Tests to Cybersecurity

Mainz Biomed is hitting the "reset" button. Once a biotech company known for ColoAlert, a non-invasive colorectal cancer test, they made a drastic decision in early 2026 to exit that market entirely. They sold the ColoAlert business for $2.5 million in cash and the transfer of certain debts. They are currently in the process of selling the intellectual property for their other screening projects, which are valued at approximately $1.2 million.

The company is now pivoting to post-quantum cybersecurity and changing its name to "Quantum Cyber N.V." (ticker: QUCY). They are retaining the PancAlert pancreatic cancer project, which requires only $800,000 to reach a proof-of-concept stage.

2. Why the Change?

The company faced significant cash constraints. By the end of 2025, they had $1.4 million remaining, while annual expenditures exceeded $12 million. Leadership determined they could not sustain the launch of ColoAlert while simultaneously funding a new cybersecurity business. By selling the ColoAlert assets, they reduced their debt by $1.8 million. The company has downsized from over 50 employees to a team of 13.

3. A Look Back at the Science

While the company’s cancer technology showed promise—specifically the ColoFuture study, which demonstrated high accuracy for detecting cancer and pre-cancerous growths—the company was unable to secure FDA approval or the necessary insurance coverage to achieve commercial viability. They generated less than $500,000 in revenue for the 2025 fiscal year.

4. Financial Health and Risks

• Profitability: The company is not currently profitable, reporting a loss of $14.2 million in 2025. They are utilizing their remaining $1.4 million to enter the cybersecurity industry, where they currently have no customers and no revenue.
• Regulatory Costs: As of January 2026, the company reports to the SEC as a U.S. domestic company. This transition adds $300,000 to $500,000 in annual legal and audit costs, further impacting their limited cash reserves.
• Operational Risk: The transition from medical diagnostics to cybersecurity represents a significant shift. The company is entering a competitive market dominated by established players with substantial resources. With a staff of 13, they face challenges in scaling the necessary sales and technical teams to compete effectively.

5. Future Outlook

The company’s future is now tied exclusively to the cybersecurity sector. It is best to view this as a startup rather than an established medical company. If they fail to generate revenue within the next 6–9 months, they will face a critical cash shortage. It is highly likely they will need to raise additional capital by issuing more shares, which would result in dilution for current shareholders.

Bottom Line: This is no longer the biotech company it was a year ago. It is a high-risk, speculative bet on a new industry with a limited balance sheet and a completely different business model. Before deciding on your next move, weigh whether you are comfortable with the risks of a startup-stage cybersecurity firm compared to the original investment thesis in medical diagnostics.