AnPac Bio Announces Appointment of New Chief Financial Officer

San Jose, CA, June 2, 2020 – 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, today announced the appointment of Mr. Jinqiu (Edwards) Tang as the Chief Financial Officer of the Company, effective June 1, 2020. Mr. Tang will succeed to Ms. Yu (Rain) Zhang, who resigned as the Chief Financial Officer of the Company for personal reasons effective on May 31, 2020.

Mr. Jinqiu (Edwards) Tang has served as AnPac Bio’s Corporate Controller since October 2019. Prior to joining AnPac Bio, Mr. Tang served as a global internal auditor at Natuzzi S.p.A (Italy) from 2016 to 2019. Previously, he worked for Beijing Dongshen CPAs from 2013 to 2016 and Shanghai De’an CPAs from 2011 to 2013, where he provided external audit, finance and tax advisory services across different industries and sectors. He has been a Certified Public Accountant in Australia since 2019. Mr. Tang received his bachelor’s degree in accounting from Charles Sturt University in Australia in 2007; MBA from Charles Sturt University in Australia in 2009; and his bachelor’s degree in law from Southwest University of Science and Technology in China in 2017.

“I am excited to welcome Edwards to join the management team. His strong financial background will help him to make an immediate impact at AnPac Bio,” said Dr. Chris Yu, the CEO and Chairman of the board of directors of AnPac Bio. “Also, on behalf of our management team and board of directors, I would like to thank Rain for her contributions. I am grateful for all she has done for AnPac Bio during the time she served as our CFO.”

“AnPac Bio has been recognized in the field of early cancer screening and detection, and I’m delighted to be a part of this fantastic organization. I look forward to joining the management team and contributing to AnPac Bio’s future success as the Company progresses to the next phase of its strategy,” said Mr. Tang, the new CFO of AnPac Bio.”

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 121 granted patents as of December 31, 2019. With two certified clinical laboratories in China and one CLIA and CAP accredited 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 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. AnPac Bio’s CDA technology 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 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 Continues to Build Strong Patent Portfolio, with 3rd Patent Granted This Year in the United States

AnPac Bio Continues to Build Strong Patent Portfolio, with 3rd Patent  Granted This Year in the United States

San Jose, CA, May 26, 2020 – 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 another new US patent titled “Apparatus for Improved Disease Detection” was granted to the Company by the United States Patent and Trademark Office on May 20, 2020, which is the second AnPac Bio patent granted this month, and the third in 2020. The new patent covers novel medical device structures, methods, and biophysical related test parameters for improved detection performance. The newly granted patent this week brings the total number of issued and granted AnPac Bio patents to nineteen in the United States.

“AnPac Bio has always focused on technological innovation and building a strong patent and IP portfolio in the space of cancer screening and detection. We will continue to invest aggressively in advanced cancer detection technologies and related intellectual property, and maintain our competiveness in the space of cancer screening and detection,” said Dr. Chris Yu, CEO and Chairman of AnPac Bio. “Our patent applications in China, the U.S. and nearly 20 other countries and regions throughout the world, if granted, will further enhance our competitive advantage, and will play an important role in the anticipated commercialization of AnPac Bio’s cancer risk assessment test in the U.S.”

Dr. Chris Yu continued, “The newly granted patent strengthens our position in our cancer detection medical device’s [designs and structures, detection methods, novel test parameters, and new reagents, which is expected to further solidify our competitive advantages in the technical space of cancer screening and detection. AnPac Bio’s cancer screening and detection sample size had increased to 169,800, including 42,300 samples from research studies, as of March 31, 2020. AnPac Bio will continue to build a significant database which will provide a major contribution to our understanding of cancer occurrence and help us solve the challenging task of early stage cancer detection.”

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 121 granted patents as of December 31, 2019. With two certified clinical laboratories in China and one CLIA and CAP accredited 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 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. AnPac Bio’s CDA technology 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 Revenue and Number of Cancer Risk Assessment Tests in 2019  

AnPac Bio Reports Record Revenue and Number of Cancer Risk Assessment Tests in 2019  

  • Continued annual revenue growth
  • Number of commercial CDA (cancer differentiation analysis)-based tests increased 26.0% year-on-year
  • Continued to gain customers and increase the acceptance of our cancer risk assessment tests

San Jose, CA, May 18, 2020 – AnPac Bio-Medical Science Co., Ltd. (Nasdaq: ANPC) (“AnPac Bio,” “we” or the “Company”), a biotechnology company with operations in China and the United States focused on early cancer screening and detection, announced its financial results for the year ended December 31, 2019 in its annual report on Form 20-F (the “Annual Report”) filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 15, 2020.

Full Year 2019 Financial Highlights

  • Number of commercial CDA-based tests reached a record high of 52,428 completed in 2019, an increase of 26.0% from 41,607 tests in 2018.
  • Total revenues were RMB10.8 million (US$1.6 million) in 2019, an increase of 5.8% from RMB10.3 million in 2018. Revenue from sales of cancer screening and detection tests was RMB10.4 million (US$1.5 million) in 2019, an increase of 8.6% from RMB9.6 million in 2018. Net revenue from sales of physical checkup packages was RMB464,000 (US$67,000) in 2019, a decrease of 33.0% from RMB693,000 in 2018.
  • Gross margin was 44.2% in 2019, a slight decrease of 0.5 percentage points from 44.7% in 2018.
  • Operating loss was RMB89.1 million (US$12.8 million) in 2019, compared to operating loss of RMB43.6 million in 2018.
  • Net loss was RMB101.6 million (US$14.6 million) in 2019, compared to net loss of RMB42.3 million in 2018.

Business Highlights

  • In 2019, 6,121 CDA-based tests were completed in various research studies with research partners such as hospitals and medical institutions, a 25.6% increase over the previous year.
  • We have continued to receive validations on the value of our CDA test through phone follow-ups. As of March 31, 2020, AnPac Bio contacted over 21,000 tested individuals in China, of which we received substantive feedback regarding health conditions and disease development from 13,030 individuals.
  • As of December 31, 2019, we had filed 210 patent applications globally; among these, 121 patents had been granted, including 55 in greater China (including seven in Taiwan) and 16 in the United States, and 89 patent applications were pending in China , the United States and nearly 20 other countries and regions.
  • We have established a significant cancer risk assessment database totaling 169,800 samples as of March 31, 2020, which included over 127,500 samples from our commercial CDA-based tests and approximately 42,300 samples from our research studies.

Dr. Chris Yu, CEO and Chairman of AnPac Bio commented, “We completed another solid year for AnPac Bio in 2019, as we continued to gain customers and increase the acceptance of our cancer risk assessment tests, evidenced by an increased number of commercial CDA-based tests completed for the year. In January 2020, AnPac Bio successfully completed its IPO on the NASDAQ Global Market, with a continued focus on cancer screening and detection. As a new public company, AnPac Bio is committed to improving our financial and operating performance. While our business is experiencing some turbulence from the COVID-19 outbreak, we are striving to reduce its negative impact on us. Cancer screening at an earlier stage will not only save lives, but will help to contribute to a more efficient healthcare system globally. According to the World Cancer Research Fund and the American Institute for Cancer Research, there were an estimated 18 million cancer cases around the world in 2018. We are confident in the future of this promising industry.”

Dr. Chris Yu continued,” We are confident in the long-term growth and robust nature of our business as we continue to achieve key milestones including receiving accreditation for United States laboratory from the College of American Pathologists and granted an important novel micro medical device patent in the United States. We are now in the process of establishing our second laboratory in Philadelphia as the Company’s new U.S. headquarters to further enhance our in-house R&D capabilities. Looking ahead, we plan to continue to deliver exceptional execution across global and local clinical development, business development and operational expansion for realizing the commercialization of cancer screening and detection tests.”

Impact of COVID-19

As disclosed in the Company’s current report on Form 6-K filed with the SEC on April 29, 2020 and the Annual Report, as a result of the pandemic of COVID-19 in China, the United States and the world, our operations have been, and may continue to be, adversely impacted by disruptions in business activities, commercial transactions and general uncertainties surrounding the duration of the outbreaks and the various governments’ business, travel and other restrictions. These adverse effects could include our ability to market and conduct our tests in China, commercialize our tests in the United States and carry out research studies and activities in China and the United States, temporary closures of our laboratory facilities and offices in China and the United States and our customers’ and suppliers’ facilities, the delay in construction of our new Philadelphia laboratory, delayed supply of products and services from our suppliers, and delayed or cancelled orders from our customers (such as due to temporary decreased demand for disease screening and detection or physical checkup services or generally due to reduced commercial activities). In addition, our business operations could be disrupted if any of our employees is suspected of contracting the coronavirus or any other epidemic disease, since our employees could be quarantined and/or our offices be shut down for disinfection. In particular, the closing of blood sampling points countrywide in China since the Chinese New Year, as a measure by the Chinese government to contain the spread of COVID-19, has significantly reduced the number of samples that we could collect for our CDA tests. Despite partial recovery of the blood sampling points in April this year, the number of blood samples that we can collect is still limited. There have also been delays of orders and cancellation of some orders for planned CDA tests and physical checkups from our customers. As a result, we expect that our revenues in the first half of 2020 will decrease significantly and our revenues for the year of 2020 will also decrease compared to the first half of 2019 and full year of 2019, respectively. While we strive to bring in new customers and launch new tests to mitigate the negative impact of COVID-19, we have no control over the development of the COVID-19 situations in China, the United States or around the world and therefore cannot assure you that we will be able to achieve a revenue growth or maintain our historical revenue level in future periods. Moreover, our plan to commercialize our CDA test in the United States has been delayed (as indicated by the delay in construction of our new Philadelphia laboratory), and will likely continue to be adversely affected, by the COVID-19 outbreak in the United States. Considering the limited manpower and resources that we have to deal with the impact of COVID-19, we have decided to not prepare and announce our unaudited financial statements for the first quarter of 2020. We will, however, prepare and announce our interim unaudited financial statements for the first six months of 2020 in due course.

Please see our Annual Report for more information on our business and financial performance for 2019, including our audited financial statements as of and for the year ended December 31, 2019 contained in it and the impact of COVID-19 on us.

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 121 issued patents as of December 31, 2019. With two certified clinical laboratories in China and one CLIA and CAP accredited 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 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. AnPac Bio’s CDA technology 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; the duration of COVID-19 and its impact on our business and financial performance; 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; and our relationship with our major business partners and customers. 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.

 

 

 

 

20-F 2019 Filing

FOR IMMEDIATE RELEASE

San Jose, CA., May 18, 2020—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, 2019 with the U.S. Securities and Exchange Commission (the “SEC”) on May 15, 2020.

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 121 issued patents as of December 31, 2019. With two certified clinical laboratories in China and one CLIA accredited 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 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. AnPac Bio’s CDA technology 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 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; and our relationship with our major business partners and customers. 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 Granted New Patent in Novel Medical Device for Disease Detection in the United States

FOR IMMEDIATE RELEASE

AnPac Bio Granted New Patent in Novel Medical Device for Disease Detection in the United States

San Jose, CA, May 11, 2020 – 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 the allowance by the United States Patent and Trademark Office on May 6, 2020 of a new US patent for a novel medical device for disease detection utilizing integrated circuit technology. By using the said medical device, improved detection performance can be obtained.

“As a biotechnology company capable of multi-cancer screening and detection, AnPac Bio continues to focus on technical innovations and endeavors to increase its clinical sample size and data base in the field of cancer screening and detection,” said Dr. Chris Yu, CEO and Chairman of AnPac Bio. “We are fully committed to patent and intellectual property protection and technical validations, and are working on the commercialization of our cancer screening and detection tests in the U.S.”

Dr. Chris Yu continued, “The newly granted patent marks another milestone for AnPac Bio’s technological development and is expected to contribute to the Company’s expansion in the U.S. market. The new US patents will allow AnPac Bio to further solidify our capabilities in multi-cancer screening and detection, enhance our platform of disease detection that includes novel design and fabrication of medical devices multiple testing parameters and improved detection methods, including higher sensitivity and specificity and ability to detect pre-cancer diseases and early stages of cancer of many types, and enable us to better serve our clients in the U.S. in the future.”

The Company has been granted two new patents in the U.S. recently (including the one announced in this press release, which brings the Company’s total U.S. granted patent number to eighteen as of the date of this press release. As we previously announced on March 24, 2020, the United States Patent and Trademark Office granted the Company a patent claiming an integrated and decomposable micro apparatus that can be used for site-specific delivery of a drug, a medical kit, a micro disease detection system, or even an auto-navigation system for in vivo applications.

In recent years, AnPac Bio has been expanding its capabilities and facilities, including establishing laboratories, in the U.S.  These laboratories are expected to add to AnPac Bio’s ability to establish closer business ties with potential clients after the commercialization of its cancer screening and detection tests in the U.S. in the future. The Company is in the process of establishing its second laboratory in the U.S., which is located in Philadelphia, PA, and will serve as the Company’s new headquarters when it is ready for use expected by the end of this year.  Together with the Company’s other laboratory in San Jose, CA, AnPac Bio could efficiently cover businesses in the U.S. with one laboratory in the west coast and the other in the east coast in the future.

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 121 issued patents as of December 31, 2019. With two certified clinical laboratories in China and one CLIA and CAP accredited 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 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. AnPac Bio’s CDA technology 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 Receives Accreditation for United States Laboratory from College of American Pathologists

AnPac Bio Receives Accreditation for United States Laboratory from College of American Pathologists

SAN JOSE, Calif., March 27, 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 its San Jose, CA lab has received accreditation from the College of American Pathologists (“CAP”). The U.S. federal government recognizes the CAP Laboratory Accreditation Program, begun in the early 1960s, as being equal-to or more-stringent-than the government’s own inspection program. During the CAP accreditation process, designed to ensure the highest standard of care for all laboratory results, inspectors examine the laboratory’s records and quality control of procedures for the preceding two years. CAP inspectors also examine laboratory staff qualifications, equipment, facilities, safety program and records, and overall management.

“Anpac Bio is proud to have received this accreditation,” said Chris Yu, Chairman and CEO of Anpac Bio. “The College of American Pathologists (CAP) is the gold standard in medical laboratory accreditation. Through this rigorous inspection process, CAP has certified that Anpac Bio is meeting the highest standards in quality patient care. We have strived from the beginning to lead the industry in quality and innovation. The CAP certification is a major milestone along our journey to deliver on our promise of ground-breaking science and commercialization for our CDA technology in the United States. We know that the CAP accreditation will only communicate further to our clients, research partners, and future patients, that Anpac Bio is committed to excellence and exceptional laboratory processes.”

About the College of American Pathologists

As the world’s largest organization of board-certified pathologists and leading provider of laboratory accreditation and proficiency testing programs, the College of American Pathologists (CAP) serves patients, pathologists, and the public by fostering and advocating excellence in the practice of pathology and laboratory medicine worldwide.

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 121 issued patents as of June 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 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.

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 Statements

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; and our relationship with our major business partners and customers. 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 Granted Important Novel Micro Medical Device Patent in the United States

AnPac Bio Granted Important Novel Micro Medical Device Patent in the United States

SAN JOSE, Calif., March 24, 2020 — 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 the allowance by  the United States Patent and Trademark Office on March 5, 2020, of a US patent application claiming an integrated and decomposable micro apparatus that can be used for site-specific delivery of a drug, a medical kit, a micro disease detection system, or even an auto-navigation system for in vivo applications.

“As a leader in using biophysical properties to scan and detect changes in blood and other liquid samples, we wanted to make sure that our technology and patents also include our devices to have the option of being in vivo so that we can constantly test and detect changes in the in the human body,” said Dr. Chris Yu, CEO and Chairman of AnPac Bio. “Due to our fundamental pending and issued patents in the US and many other jurisdictions covering the entire spectrum of disease detection, as well as micro surgical operations and drug release responses, intellectual properties of biophysical measurements with multi-functional micro- medical devices will have significant value in the future.”

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection 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 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. AnPac Bio’s CDA technology 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; and our relationship with our major business partners and customers. 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 Gains Two New Insurance Customers

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

 

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 Announces Pricing of Initial Public Offering

FOR IMMEDIATE RELEASE

AnPac Bio Announces Pricing of Initial Public Offering

San Jose, CA, January 30, 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 priced its initial public offering of 1,333,360 American depositary shares (“ADSs”) at US$12.00 per ADS for a total offering size of approximately US$16.0 million, assuming the underwriters do not exercise their over-allotment option to purchase additional ADSs. Each ADS represents one Class A ordinary share of the Company. The ADSs are expected to begin trading on the Nasdaq Global Market on January 30, 2020 under the ticker symbol “ANPC.”

The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 200,004 additional ADSs at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments.

WestPark Capital, Inc. and Univest Securities, LLC are acting as joint bookrunners of this offering and as the representatives of the underwriters.

AnPac Bio’s registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This offering of the securities is made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, by contacting:

 

WestPark Capital, Inc.

Attention: Jay Stern

1900 Avenue of the Stars, Suite 310

Los Angeles, CA 90067

Phone: (310) 843-9300

Email: [email protected]

 

Univest Securities, LLC

Attention: Edric Guo

375 Park Avenue #1502

New York, NY 10152

Phone: (212) 343-8888

Email: [email protected]

 

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection. 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 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

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 Launches Major U.S. Expansion, Starting 2nd U.S. Clinical Lab in Philadelphia

Anpac Bio Launches Major U.S. Expansion, Starting 2nd U.S. Clinical Lab in Philadelphia

SAN JOSE, California, October 14, 2019 – After winning a major award from the U.S. Department of Commerce as “Minority Health Products and Services Firm of the Year,” and obtaining CLIA certification for its clinical laboratory in San Jose earlier this year, Anpac Bio-Medical Science Co., Ltd. (“Anpac Bio”), today announced a major expansion in the U.S. by selecting Philadelphia as its second clinical laboratory site and new U.S. corporate headquarters.

Of this expansion, CEO, Dr. Chris Yu, remarked, “With our leading-edge technology extensively validated by 40,000 blood samples from our research studies and 100,000 blood samples from our cancer risk assessment using CDA-based tests in China, we are now fully committed to R&D and market penetration in the U.S. By placing our second clinical laboratory in Philadelphia, we can work with our hospital principal investigators and partners in the East Coast much more closely and effectively.”

Anpac Bio’s new U.S. corporate headquarters and laboratory will be centrally located in the Mid-Atlantic region and easily accessible to key markets. The 7,000 square foot office and lab space will be located in the Spring House Innovation Park which also houses the Jefferson Institute for Bioprocessing. Philadelphia was recently named the latest of the Big4Bio regions for its innovation in the life sciences sector and home to more than 800 life sciences companies and 15 major health systems.

“We are very excited to be moving forward with our U.S. corporate headquarters and laboratory in Pennsylvania. The state has a mature life sciences ecosystem and a supportive start-up environment that will allow our U.S. business to lay the foundation for future success”, stated Shaun Gong, Anpac’s U.S. President.

Anpac Bio is a leading biotechnology company focused on early cancer screening and detection. With multiple certified clinical laboratories in China, Anpac Bio markets a suite of cancer screening and detection tests, including CDA, bio-chemistry, immunology, and genomics tests. In a recent market research report by Frost & Sullivan, Anpac Bio ranked second worldwide among companies offering next-generation early cancer screening and detection technologies, based on approximately 35,000 clinical samples as at June 30, 2019. These clinical samples demonstrated that AnPac Bio’s CDA technology could detect the risk of over 20 different cancer types with high sensitivity and specificity rates.

For further information visit: AnpacBio.com or contact Phil Case: [email protected] or 801.362.9991.

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©2019 Anpac Bio-Medical Science Co., Ltd.