AnPac Bio Announces Filing of Annual Report on Form 20-F for 2020

AnPac Bio Announces Filing of Annual Report on Form 20-F for 2020

FOR IMMEDIATE RELEASE

San Jose, CA., April 30, 2021—AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) (“AnPac Bio” or the “Company”), a biotechnology company with operations in China and the United States focused on early cancer screening and detection, announced today that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2020 with the U.S. Securities and Exchange Commission (the “SEC”) on April 30, 2021.

The Company’s annual report on Form 20-F, which contains its audited consolidated financial statements, can be accessed on and downloaded from the SEC’s website at www.sec.gov as well as on the Company’s investor relations website at https://www.anpacbio.com.

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 142 issued patents as of March 31, 2021. With two certified clinical laboratories in China and one CLIA and CAP accredited clinical laboratory and one CLIA registered clinical laboratory in the United States, AnPac Bio performs a suite of cancer screening and detection tests, including CDA (Cancer Differentiation Analysis), bio-chemical, immunological, and genomics tests. According to Frost & Sullivan, AnPac Bio ranked third worldwide among companies offering next-generation early cancer screening and detection technologies in terms of the number of clinical samples for cancer screening and detection, based on approximately 41,700 clinical samples as of December 2019.  AnPac Bio’s CDA technology platform has been shown in retrospective validation studies to be able to detect the risk of over 20 different cancer types with high sensitivity and specificity.

For more information, please visit: https://www.Anpacbio.com.

For investor and media inquiries, please contact:

Company:
Phil Case, Marketing and Investor Relations
Phone: +1-267-810-6776 (US)
Email: [email protected]

Investor Relations:
Ascent Investor Relations LLC
Tina Xiao, President
Phone: +1-917-609-0333 (US)
Email: [email protected]

 

AnPac Bio Reports Fiscal Year 2020 Annual Financial Results (89.1% Increase in Revenue and 20.7% Decrease in Net Loss)

AnPac Bio Reports Fiscal Year 2020 Annual Financial Results (89.1% Increase in Revenue and 20.7% Decrease in Net Loss)

SAN JOSE, Calif., April 30, 2021 (GLOBE NEWSWIRE) — AnPac Bio-Medical Science Co., Ltd. (“AnPac Bio,” the “Company” or “we”) (NASDAQ: ANPC), a biotechnology company with operations in China and the United States, announced today its annual financial results for the year ended December 31, 2020.

Financial Highlights for Fiscal Year 2020

  • Total revenues were RMB20.5 million (US$3.1 million) in fiscal year 2020, an increase of 89.1% from RMB10.8 million (US$1.6 million) in fiscal year 2019.
  • Gross margin was 62.8% in fiscal year 2020, an increase of 18.6% from 44.2% in fiscal year 2019.
  • The average selling price (“ASP”) of CDA-based tests was RMB446 (US$68.4) in fiscal year 2020, increased by RMB248, or 125.3% from RMB198 in fiscal year 2019, primarily due to a broader product offering of more comprehensive multi-cancer detection tests at higher price points.
  • Net loss decreased to RMB80.6 million (US$12.3 million) in fiscal year 2020 from RMB101.6 million in fiscal year 2019. The net loss in fiscal year 2020 was mainly attributable to RMB 19.7 million (US$ 3.0 million) selling and marketing expenses and RMB 74.8 million (US$ 11.5 million) general and administrative expenses.
  • Short-term debt decreased significantly (a decrease of approximately 78.7%) compared to the end of last fiscal year (December 31, 2019).

Business Highlights for Fiscal Year 2020

  • The Company successfully listed on the NASDAQ stock exchange on January 30, 2020.
  • Two new products were launched, including a proprietary immunology test named AnPac Defense Medical Examination (“ADME”) and a new cancer test package named AnPac Pan Cancer Screening (“APCS”) combining CDA technology with ct-DNA methods.
  • The Company continued to receive validation on the efficacy of CDA testing through clinical study follow-ups. As of December 31, 2020, AnPac Bio had contacted 22,979 individuals tested using CDA packages in China and received substantive feedback regarding health conditions and disease development from 13,859 individuals.
  • As of December 31, 2020, the Company filed 237 patent applications globally; among these, 141 patents have been granted.
  • The Company continued to build a cancer risk assessment database, which totaled approximately 216,560 samples as of December 31, 2020, including approximately 172,860 samples from commercial CDA-based tests and approximately 43,700 samples from research studies.
  • The San Jose, California US lab received the College of American Pathologists (“CAP”) certification. The lab also has completed the validation of a COVID-19 antibody test using a major supplier’s FDA emergency use authorized equipment, and is capable of commercializing the test.
  • The Philadelphia, Pennsylvania US lab completed renovations and in August 2020, the lab received CLIA certification.

Dr. Chris Yu, CEO and Chairman of AnPac Bio commented: “We are very pleased with our excellent financial performance in 2020. Although the COVID-19 pandemic adversely impacted businesses around the world over the last year, AnPac Bio still achieved significant growth in its revenues and gross margin while reducing its net loss by approximately 20.7%.  This illustrated the capabilities of Anpac Bio’s management team and also demonstrated that our technology and products are getting increased acceptance in the marketplace.

AnPac Bio developed two new products in 2020 which continue to gain traction with our customers. Our issued patents reached 141 at the end of 2020.  We are proud of what AnPac Bio has achieved in 2020. We will continue to focus on research and development, obtaining the Class III medical device registration certificate in China, marketing our test as a laboratory developed test, or LDT, in the U.S., launching new products, and controlling costs and expenses.

As we enter 2021, we are capitalizing on an expanding market and customer acceptance of AnPac’s products and services and are driven by our vision to be a market leader around the globe in early-stage cancer screening and detection. As we announced recently, we have achieved a record Q1 for paid CDA-based cancer test volume in 2021.”

Financial Results for Fiscal Year 2020

Revenue

Total revenues increased by 89.1% to RMB20.5 million (US$3.1 million) in fiscal year 2020 from RMB10.8 million (US$1.6 million) in fiscal year 2019, primarily due to a significant increase in our revenue from cancer screening and detection tests.

Cost of Revenues

Cost of revenues increased by 26.1% to RMB7.6 million (US$1.2 million) in fiscal year 2020 from RMB6.0 million in fiscal year 2019. The increase was primarily attributable to an increase in depreciation expense, as we put more CDA devices into use to carry out our CDA-based tests.

Gross Profit and Gross Margin

Gross profit increased by 168.5% to RMB12.9 million (US$2.0 million) in fiscal year 2020 from RMB4.8 million in fiscal year 2019. Gross margin was 62.8% in fiscal year 2020, an increase of 18.6 percentage points from 44.2% in fiscal year 2019.

Selling and Marketing Expenses

Selling and marketing expenses increased by 44.3% to RMB19.7 million (US$3.0 million) in fiscal year 2020 from RMB13.6 million in fiscal year 2019, primarily due to higher marketing expenses as a result of our enhanced marketing efforts.

Research and Development Expenses

Research and development expenses increased by 17.7% to RMB11.6 million (US$1.8 million) in fiscal year 2020 from RMB9.8 million in fiscal year 2019, primarily due to the increased research and development activities we conducted in 2020.

General and Administrative Expenses

General and administrative expenses increased by 8.2% to RMB74.8 million (US$11.5 million) in fiscal year 2020 from RMB69.1 million in fiscal year 2019, primarily due to increased listing-related professional fees as well as increased staff compensation incurred in 2020.

Net Loss

Net loss was decreased to RMB80.6 million (US$12.3 million) in fiscal year 2020, compared to RMB101.6 million in fiscal year 2019. Basic and diluted loss per share was RMB7.19 (US$1.10) in fiscal year 2020, compared to that of RMB11.31 in fiscal year 2019.

Balance Sheet

As of December 31, 2020, the Company had cash and cash equivalents of RMB3.0 million (US$462,000), compared to RMB6.1 million as of December 31, 2019.

Cash Flow

Net cash used in operating activities was RMB59.0 million (US$9.0 million) in fiscal year 2020, compared to RMB48.6 million in fiscal year 2019.

Net cash used in investing activities was RMB2.5 million (US$380,000) in fiscal year 2020, compared to RMB3.5 million in fiscal year 2019.

Net cash provided by financing activities was RMB60.9 million (US$9.3 million) in fiscal year 2020, compared to RMB46.1 million in fiscal year 2019.

Conference Call

The Company’s management will host an earnings conference call at 8:30 am US Eastern Time on April 30, 2021 (5:30 am US Pacific Time/8:30 pm Beijing Time) to discuss the financial results for the year ended December 31, 2020. To attend this earnings conference call, please use the information below for either dial-in access or webcast access. When prompted, please reference “AnPac Bio/ANPC”.

Conference Call
Date: April 30, 2021
Time: 8:30 am ET, U.S.
International Toll Free: United States: +1 888-346-8982

Mainland China: +86 400-120-1203

Hong Kong: +852 800-905-945

International: International: +1 412-902-4272
Conference ID: AnPac Bio-Medical Science Co., Ltd.

Please dial in at least 15 minutes before the commencement of the call to ensure timely participation. For those unable to participate, an audio replay of the conference call will be available from approximately one hour after the end of the live call until May 7, 2021. The dial-in for the replay is +1 877-344-7529 within the United States or +1 412-317-0088 internationally. The replay access code is 10153699.

A live webcast of the call will also be available at https://services.choruscall.com/links/anpc210329.html.

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 142 issued patents as of March 31, 2021. With two certified clinical laboratories in China and one CLIA and CAP accredited clinical laboratory and one CLIA registered clinical laboratory in the United States, AnPac Bio performs a suite of cancer screening and detection tests, including CDA (Cancer Differentiation Analysis), bio-chemical, immunological, and genomics tests. According to Frost & Sullivan, AnPac Bio ranked third worldwide among companies offering next-generation early cancer screening and detection technologies in terms of the number of clinical samples for cancer screening and detection, based on approximately 41,700 clinical samples as of December 31, 2019. AnPac Bio’s CDA technology platform has been shown in retrospective validation studies to be able to detect the risk of over 20 different cancer types with high sensitivity and specificity.

For more information, please visit: https://www.Anpacbio.com.

For investor and media inquiries, please contact:

Company:
Phil Case, Marketing and Investor Relations
Phone: +1-267-810-6776 (US)
Email: [email protected]

Investor Relations:
Ascent Investor Relations LLC
Tina Xiao, President
Phone: +1-917-609-0333 (US)
Email: [email protected]

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are made under the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and are relating to the Company’s future financial and operating performance. The Company has attempted to identify forward-looking statements by terminologies including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “projects,” “intends,” “potential,” “target,” “aim,” “predict,” “outlook,” “seek,” “goal” “objective,” “assume,” “contemplate,” “continue,” “positioned,” “forecast,” “likely,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. These statements also involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to be materially different from those expressed or implied by any forward-looking statement. Known and unknown risks, uncertainties and other factors include, but are not limited to, the implementation of our business model and growth strategies; trends and competition in the cancer screening and detection market; our expectations regarding demand for and market acceptance of our cancer screening and detection tests and our ability to expand our customer base; our ability to obtain and maintain intellectual property protections for our CDA technology and our continued research and development to keep pace with technology developments; our ability to obtain and maintain regulatory approvals from the NMPA, the FDA and the relevant U.S. states and have our laboratories certified or accredited by authorities including the CLIA; our future business development, financial condition and results of operations and our ability to obtain financing cost-effectively; potential changes of government regulations; general economic and business conditions in China and elsewhere; our ability to hire and maintain key personnel; our relationship with our major business partners and customers; and the duration of the coronavirus outbreaks and their potential adverse impact on the economic conditions and financial markets and our business and financial performance, such as resulting from reduced commercial activities due to quarantines and travel restrictions instituted by China, the U.S. and many other countries around the world to contain the spread of the virus. Additionally, all forward-looking statements are subject to the “Risk Factors” detailed from time to time in the Company’s most recent Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

ANPAC BIO-MEDICAL SCIENCE CO., LTD.

CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”), except for number of shares and per share data)

    As of December 31,  
    2019   2020   2020  
    RMB   RMB   US$  
ASSETS
Current assets:
Cash and cash equivalents 6,125 3,016 462
Advances to suppliers 1,093 5,588 856
Accounts receivable, net 1,295 7,792 1,194
Amounts due from related parties 555 1,277 196
Inventories, net 313 312 48
Other current assets, net 12,790 3,303 506
Total current assets 22,171 21,288 3,262
Property and equipment, net 18,868 19,267 2,953
Land use rights, net 1,194 1,166 179
Intangible assets, net 5,200 4,596 704
Goodwill 2,223 2,223 341
Long-term investments, net 2,326 883 135
Other assets 1,000 464 71
TOTAL ASSETS. 52,982 49,887 7,645
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current liabilities:
Short-term debts 38,568 8,232 1,262
Accounts payable 1,800 2,127 325
Advance from customers 2,450 3,682 564
Amounts due to related parties 4,597 4,130 633
Accrued expenses and other current liabilities 18,782 25,353 3,886
Total current liabilities 66,197 43,524 6,670
Deferred tax liabilities 1,134 1,045 160
Other long-term liabilities 1,575 2,041 313
TOTAL LIABILITIES. 68,906 46,610 7,143
Commitments and contingencies
Shareholders’ (deficit) equity:
Class A Ordinary shares ((US$0.01 par value per share; 70,000,000 shares authorized, 7,004,900 and 9,192,660 shares issued and outstanding as of December 31, 2019 and 2020, respectively) 466 618 95
Class B Ordinary shares ((US$0.01 par value per share; 30,000,000 authorized, 2,863,100 shares issued and outstanding as of December 31, 2019 and 2020) 191 191 29
Additional paid-in capital 257,736 354,295 54,298
Accumulated deficit (276,476 ) (356,951 ) (54,705 )
Accumulated other comprehensive income 2,110 4,795 735
Total AnPac Bio-Medical Science Co., Ltd. shareholders’ (deficit) equity (15,973 ) 2,948 452
Non-controlling interests 49 329 50
Total shareholders’ (deficit) equity (15,924 ) 3,277 502
TOTAL LIABILITIES AND EQUITY 52,982 49,887 7,645  

ANPAC BIO-MEDICAL SCIENCE CO., LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Amounts in thousands of RMB and US$, except for number of shares and per share data)

    Year Ended December 31  
    2019   2020   2020  
    RMB   RMB   US$  
Revenues:
Cancer screening and detection tests 10,381 18,445 2,827
Physical checkup packages, net 464 2,064 316
Total revenues 10,845 20,509 3,143
Cost of revenues, cancer screening (6,047 ) (7,628 ) (1,169 )
Gross Profit 4,798 12,881 1,974
Operating expenses:
Selling and marketing (13,633 ) (19,674 ) (3,015 )
Research and development (9,839 ) (11,576 ) (1,774 )
General and administrative (69,088 ) (74,757 ) (11,457 )
Impairment of long-term investments (1,320 ) (1,430 ) (219 )
Loss from operations (89,082 ) (94,556 ) (14,491 )
Non-operating income and expenses:
Interest expense, net (2,609 ) (1,143 ) (175 )
Foreign exchange loss, net (3,219 ) (667 ) (102 )
Share of net (loss) gain in equity method investments 190 (13 ) (2 )
Other income (expense), net (1,823 ) 9,096 1,394
Change in fair value of convertible debt and settlement gain (5,296 ) 6,630 1,016
Loss before income taxes (101,839 ) (80,653 ) (12,360 )
Income tax benefit 218 88 13
Net loss (101,621 ) (80,565 ) (12,347 )
Net loss attributable to non-controlling interests (561 ) (90 ) (14 )
Net loss attributable to ordinary shareholders (101,060 ) (80,475 ) (12,333 )
Loss per share
Class A and B Ordinary shares – basic and diluted (11.31 ) (7.19 ) (1.10 )
Weighted average shares outstanding used in calculating basic and diluted loss per share
Ordinary shares – basic and diluted 8,937,600 11,190,079 11,190,079
Other comprehensive (loss) income, net of tax:
Fair value change relating to Company’s own credit risk on convertible loan (955 ) (108 ) (17 )
Foreign currency translation adjustment 2,978 2,793 428
Total comprehensive loss (99,598 ) (77,880 ) (11,936 )
Total comprehensive loss attributable to non-controlling interests (561 ) (90 ) (14 )
Total comprehensive loss attributable to ordinary shareholders (99,037 ) (77,790 ) (11,922 )

 

 

 

 

AnPac Bio to Report Fiscal Year 2020 Financial Results on Friday, April 30, 2021

AnPac Bio to Report Fiscal Year 2020 Financial Results on Friday, April 30, 2021

Earnings Call Scheduled for 8:30 am ET on April 30, 2021

SAN JOSE, Calif., April 27, 2021 (GLOBE NEWSWIRE) — AnPac Bio-Medical Science Co., Ltd. (“AnPac Bio,” the “Company” or “we”) (NASDAQ: ANPC), a biotechnology company with operations in China and the United States announced today that it plans to report its fiscal year 2020 unaudited financial results ended December 31, 2020, before the open of U.S. markets on Friday, April 30, 2021.

The Company’s management will host an earnings conference call at 8:30 am Eastern Time on April 30, 2021 (5:30 am Pacific Time/8:30 pm Beijing Time on April 30, 2021).

To attend this earnings conference call, please use the information below for either dial-in access or webcast access. When prompted, please reference “AnPac Bio/ANPC.”

Conference Call
Date: April 30, 2021
Time: 8:30 am ET, U.S.
International Toll Free: United States: +1 888-346-8982
Mainland China: +86 400-120-1203
Hong Kong: +852 800-905-945
International: International: +1 412-902-4272
Conference ID: AnPac Bio-Medical Science Co., Ltd.

Please dial in at least 15 minutes before the commencement of the call to ensure timely participation. For those unable to participate, an audio replay of the conference call will be available from approximately one hour after the end of the live call until May 7, 2021. The dial-in for the replay is +1 877-344-7529 within the United States or +1 412-317-0088 internationally. The replay access code is 10153699.

A live webcast of the call will also be available at https://services.choruscall.com/links/anpc210329.html.

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 142 issued patents as of March 31, 2021. With two certified clinical laboratories in China and one CLIA and CAP accredited clinical laboratory and one CLIA registered clinical laboratory in the United States, AnPac Bio performs a suite of cancer screening and detection tests, including CDA (Cancer Differentiation Analysis), bio-chemical, immunological, and genomics tests. According to Frost & Sullivan, AnPac Bio ranked third worldwide among companies offering next-generation early cancer screening and detection technologies in terms of the number of clinical samples for cancer screening and detection, based on approximately 41,700 clinical samples as of December 31, 2019. AnPac Bio’s CDA technology platform has been shown in retrospective validation studies to be able to detect the risk of over 20 different cancer types with high sensitivity and specificity.

For more information, please visit: https://www.Anpacbio.com.

For investor and media inquiries, please contact:

Company:
Phil Case, Marketing and Investor Relations
Phone: +1-267-810-6776 (US)
Email: [email protected]

Investor Relations:
Ascent Investor Relations LLC
Tina Xiao, President
Phone: +1-917-609-0333 (US)
Email: [email protected]

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are made under the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and are relating to the Company’s future financial and operating performance. The Company has attempted to identify forward-looking statements by terminologies including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “projects,” “intends,” “potential,” “target,” “aim,” “predict,” “outlook,” “seek,” “goal” “objective,” “assume,” “contemplate,” “continue,” “positioned,” “forecast,” “likely,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. These statements also involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to be materially different from those expressed or implied by any forward-looking statement. Known and unknown risks, uncertainties and other factors include, but are not limited to, the implementation of our business model and growth strategies; trends and competition in the cancer screening and detection market; our expectations regarding demand for and market acceptance of our cancer screening and detection tests and our ability to expand our customer base; our ability to obtain and maintain intellectual property protections for our CDA technology and our continued research and development to keep pace with technology developments; our ability to obtain and maintain regulatory approvals from the NMPA, the FDA and the relevant U.S. states and have our laboratories certified or accredited by authorities including the CLIA; our future business development, financial condition and results of operations and our ability to obtain financing cost-effectively; potential changes of government regulations; general economic and business conditions in China and elsewhere; our ability to hire and maintain key personnel; our relationship with our major business partners and customers; and the duration of the coronavirus outbreaks and their potential adverse impact on the economic conditions and financial markets and our business and financial performance, such as resulting from reduced commercial activities due to quarantines and travel restrictions instituted by China, the U.S. and many other countries around the world to contain the spread of the virus. Additionally, all forward-looking statements are subject to the “Risk Factors” detailed from time to time in the Company’s most recent Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

AnPac Bio Reports Record Q1 for Paid CDA-Based Cancer Testing Volume in 2021, Increasing Approximately 130% Compared to Q1, 2020

FOR IMMEDIATE RELEASE

AnPac Bio Reports Record Q1 for Paid CDA-Based Cancer Testing Volume in 2021, Increasing Approximately 130% Compared to Q1, 2020

San Jose, CA, April 16, 2021 – AnPac Bio-Medical Science Co., Ltd. (“AnPac Bio,” the “Company” or “we”) (NASDAQ: ANPC), a biotechnology company with operations in China and the United States focused on early cancer screening and detection, announced today that it experienced strong demand for its paid tests based on the cancer differentiation analysis technology (CDA) technology, or paid CDA-based tests, in the first quarter of 2021, setting a record high Q1 test volume.  CDA-based tests, which are multi-cancer tests based on a novel biophysical approach, are the Company’s flagship product line and reached 5,439 paid cancer tests in Q1, an approximately 130% increase over the same period last year.  While AnPac Bio offers multiple test products including various cancer screening tests, immunology tests and annual physical checkups, paid CDA-based tests had the highest test volume among all these tests in Q1, 2021.

While the first 3 months of the year is traditionally a downtime due to seasonality and the Chinese New Year, the Company still experienced strong demand for its commercial CDA-based tests in Q1 2021.  This increase in paid CDA-based test volume was also due to the Company being negatively impacted by COVID-19 in Q1 2020.

Dr. Chris Yu commented, “We are very pleased with achieving the increase in Q1 paid CDA-based testing volume, which is a strong indication that AnPac Bio’s technology, services and quality are being recognized by the market.  Multi-cancer screening testing is now regarded as an important aspect and breakthrough in the fight again cancer as it offers a more cost effective and efficient way to screen cancer in large populations.  With our multi-cancer screening based CDA technology gaining market acceptance, we believe that we are well-positioned to capture the significant growth in the cancer screening market in China.  We are also working hard to commercialize our cancer test technology in the US via Laboratory Developed Tests (LDT).  We are fully committed to innovating and developing new products and technologies and closely working with customers to achieve continued growth.”

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 142 issued patents as of March 31, 2021. With two certified clinical laboratories in China and one CLIA and CAP accredited clinical laboratory and one CLIA registered clinical laboratory in the United States, AnPac Bio performs a suite of cancer screening and detection tests, including CDA (Cancer Differentiation Analysis), bio-chemical, immunological, and genomics tests. According to Frost & Sullivan, AnPac Bio ranked third worldwide among companies offering next-generation early cancer screening and detection technologies in terms of the number of clinical samples for cancer screening and detection, based on approximately 41,700 clinical samples as of December 2019.  AnPac Bio’s CDA technology platform has been shown in retrospective validation studies to be able to detect the risk of over 20 different cancer types with high sensitivity and specificity.

For more information, please visit: https://www.Anpacbio.com.

For investor and media inquiries, please contact:

 Company:

Phil Case, Marketing and Investor Relations

Phone: +1-267-810-6776 (US)

Email: [email protected]

 

Investor Relations:

Ascent Investor Relations LLC
Tina Xiao, President
Phone: +1-917-609-0333 (US)
Email: [email protected]

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are made under the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and are relating to the Company’s future financial and operating performance. The Company has attempted to identify forward-looking statements by terminologies including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “projects,” “intends,” “potential,” “target,” “aim,” “predict,” “outlook,” “seek,” “goal” “objective,” “assume,” “contemplate,” “continue,” “positioned,” “forecast,” “likely,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. These statements also involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to be materially different from those expressed or implied by any forward-looking statement. Known and unknown risks, uncertainties and other factors include, but are not limited to, the implementation of our business model and growth strategies; trends and competition in the cancer screening and detection market; our expectations regarding demand for and market acceptance of our cancer screening and detection tests and our ability to expand our customer base; our ability to obtain and maintain intellectual property protections for our CDA technology and our continued research and development to keep pace with technology developments; our ability to obtain and maintain regulatory approvals from the NMPA, the FDA and the relevant U.S. states and have our laboratories certified or accredited by authorities including the CLIA; our future business development, financial condition and results of operations and our ability to obtain financing cost-effectively; potential changes of government regulations; general economic and business conditions in China and elsewhere; our ability to hire and maintain key personnel; our relationship with our major business partners and customers; and the duration of the coronavirus outbreaks and their potential adverse impact on the economic conditions and financial markets and our business and financial performance, such as resulting from reduced commercial activities due to quarantines and travel restrictions instituted by China, the U.S. and many other countries around the world to contain the spread of the virus. Additionally, all forward-looking statements are subject to the “Risk Factors” detailed from time to time in the Company’s most recent Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

 

 

 

©2021 Anpac Bio-Medical Science Co., Ltd.