San Jose, CA, February 6, 2020 – AnPac Bio-Medical Science Co., Ltd. (“AnPac Bio” or the “Company”) (NASDAQ: ANPC), a biotechnology company with operations in China and the United States focused on early cancer screening and detection, today announced that it has gained two new insurance customers in China for its cancer screening and detection tests (“CDA tests”) using its cancer differentiation analysis, or CDA, technology.
The two insurance customers are Bohai Life Insurance Co., Ltd. (“Bohai Life”) and PKU Founder Life Insurance Co., Ltd., Qingdao Branch (“Founder Life Qingdao” hereafter). Under its service agreements with these insurance companies, the Company provides their insurance clients with several multi-cancer, standardized CDA tests to assess the individuals’ cancer risks. Business with insurance companies has played an important role in AnPac Bio’s growth.
About Bohai Life
Bohai Life is a Chinese life insurance company ranked 377 on the Chinese Fortune 500 service-industry company list in 2019, with total assets of approximately $5 billion and serving over 800,000 customers as of June 30, 2019.
About PKU Founder Life Qingdao
PKU Founder Life Qiigdao is the Qingdao branch of PKU Founder Life Insurance Co., Ltd., a Chinese insurance company. PKU Founder Life Insurance Co., Ltd. is a majority-owned subsidiary of Founder Group, which was ranked 60 on the Chinese Fortune 500 service-industry company list in 2019 and had total assets of approximately $52 billion as of the end of 2018.
About AnPac Bio
AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 121 granted patents as of September 30, 2019. With two certified clinical laboratories in China 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. In a recent market research report by Frost & Sullivan, AnPac Bio ranked first in China and second 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 35,000 clinical samples as at June 30, 2019. These clinical samples demonstrated that AnPac Bio’s CDA technology and platform could detect the risk of over 20 different cancer types with high sensitivity and specificity.
For more information, please visit: https://www.Anpacbio.com
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Tina Xiao, President
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