Anpac Bio Completes Over 200,000 Biophysics Based Cancer Detection Tests, With Data Covering Close to 60 Types of Cancer

Anpac Bio Completes Over 200,000 Biophysics Based Cancer Detection Tests, With Data Covering Close to 60 Types of Cancer

San Jose, CA, October 26, 2020 – Anpac Bio-Medical Science Co., Ltd. (“Anpac Bio,” the “Company” or “we”) (ANPC), a biotechnology company with operations in China and the United States focused on early cancer screening and detection, announced today that it has completed over 200,000 cancer detection tests as of September 30, 2020 using its biophysics based cancer screening technology, Cancer Differentiation Analysis (“CDA”).The CDA technology  allows cancer screening for close to 60 types of cancer, including certain cancer types such as esophageal cancer and brain tumors which do not yet have other more-established blood based testing methods.

As of June 30, 2020, the Company completed an accumulated number of CDA-based tests to 180,673. Since then, Company has carried out over 20,000 additional tests by the end of September, bringing the total number of tests over 200,000.

Dr. Chris Yu, CEO and Chairman of Anpac Bio commented, “We are very pleased to have achieved this milestone of over 200,000 completed biophysics based CDA tests. The rapid increasing number of tests we have achieved indicates the viability and popularity of our products, and indicates that biophysics based cancer screening technology can be an effective alternative approach to traditional cancer screening methods due to its advantages in a number of critical areas, including the detection of multiple cancer types at earlier stages due to a high level of sensitivity and specificity and low cost approach.”

About Anpac Bio

Anpac Bio is a biotechnology company focused on early cancer screening and detection, with 128 issued patents as of June 22, 2020. 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 2019 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 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 to Receive Up To USD $8 Million Dollar Grants and Award for R&D, Product Commercialization, and Milestone Achievements

FOR IMMEDIATE RELEASE

AnPac Bio to Receive Up To USD $8 Million Dollar Grants and Award for R&D, Product Commercialization, and Milestone Achievements

San Jose, CA, October 7, 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, announced today that in recognition of its successes in leading edge life science innovations and advancements and in support of its R&D and product commercialization efforts, AnPac Bio has obtained three grants and one rental award from various local authorities in China with a portion of the funding subject to milestone achievements. In total, these grants and award reached approximately US$8 million. Grant and award payments or benefits are expected to be received over a few years starting from this quarter and will help AnPac Bio fund R&D and new product commercialization.

Dr. Chris Yu, AnPac Bio’s Chairman and CEO commented: “We are pleased and thankful for the grant and award recognitions. We believe that we are well positioned to successfully execute our goals this year and in 2021, during which we will accelerate our R&D, cancer detection product commercialization in China (class III medical device) and US (Laboratory Developed Tests (LDT)), and increase our revenue.”

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 128 issued patents as of June 30, 2020. With two certified clinical laboratories in China and one CLIA and CAP registered clinical laboratory, 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 and first in China 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 at May 2020. 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 Announces Equity Investment from Keystone Capital Partners for up to $7 Million

FOR IMMEDIATE RELEASE

AnPac Bio Announces Equity Investment from Keystone Capital Partners for up to $7 Million

San Jose, CA, October 1, 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, announced today that the Company has entered into an agreement with Keystone Capital Partners (“Keystone”) for a preferred stock investment of US$7.0 Million. Additional details on the transaction are outlined in the accompanying Registration Statement filed on September 30, 2020 (File No. 333‐249170).

The investment provides AnPac Bio with additional access to growth capital to expand its operations in China and continue to commercialize in the United States. Additionally, the Company intends to use the funding proceeds to advance its CDA (Cancer Differentiation Analysis) technology to provide cost-effective early-detection cancer screening and testing.

The information contained in this press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares of our preferred stock discussed herein, nor shall there be any offer, solicitation, or sale of the shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A registration statement relating to these securities has been filed with the U.S. Securities Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 128 issued patents as of June 30, 2020. 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. According to Frost & Sullivan, AnPac Bio ranked third worldwide and first in China 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 at May 2020. 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.

 

About Keystone Capital Partners

Founded in 2019, Keystone Capital Partners is a family office based in New York with investments in biotech, real estate and consumer products.

To learn more about the Keystone team, visit www.keystone-cp.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]

 

Keystone Media Relations:

ICR

Nicole Hakimi

Phone: +1-646-677-1802

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 Major Immunology Testing Contract

FOR IMMEDIATE RELEASE

AnPac Bio Receives Major Immunology Testing Contract

San Jose, CA, September 15, 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 the Company entered into a noteworthy sales contract in mid-August 2020 with Beijing Yuan Jian Health Management Co., Ltd. in China for the Company’s newly launched immunology test, AnPac Defense Medical Examination (ADME).  Beijing Yuan Jian Health Management has already been a client of AnPac for the past two years. The contract has a duration of 14 months and includes 20,000 paid ADME tests, with the expectation that the test is to be offered to end customers at multiple locations in China.

This new immunology test, especially its design, algorithm and its simple scoring system, is based on the learning and intellectual property of AnPac’s cancer differentiation analysis technology (CDA), while its specific immunology related components, such as data around white blood cells, T cells and complements are already clinically validated and regulatory approved tests.

AnPac Bio’s CEO, Dr. Chris Yu, remarked, “This significant sales contract for our new immunology test ADME showed that our new product initiative and launch has received positive response from the market and our customers.  We believe that this new product propel the company forward in exhibiting strong future growth.”

About Beijing Yuan Jian Health Management Co., Ltd.

 Beijing Yuan Jian Health Management Co., Ltd. is a Chinese health management firm with a focus on health care management. Its team consists of well-known experts and professionals in the fields of health care management and medicine, and it has collaborated with various well-known academic and medical institutions including universities, hospitals and other healthcare organizations in China and the U.S.

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 128 issued patents as of June 30, 2020. 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. According to Frost & Sullivan, AnPac Bio ranked third worldwide and first in China 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 at May 2020. 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 First Six Months of 2020 Financial Results

AnPac Bio Reports First Six Months of 2020 Financial Results

SAN JOSE, Calif., September 10, 2020 (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 financial results for the six months ended June 30, 2020.

Financial Highlights for the First Six Months of 2020

  • Total revenues were RMB4.1 million (US$0.6 million) for the first six months of 2020, an increase of 3.4% from RMB3.9 million for the first six months of 2019.
  • Gross margin was 45.3% for the first six months of 2020, an increase of 3.9 percentage points from 41.4% for the first six months of 2019.
  • The average selling price (“ASP”) of CDA-based tests increased by RMB228, or 114% from the first six months of 2019 to the same period of 2020 primarily due to higher pricing for new contracts and a more favorable distributor mix.
  • Net loss was RMB56.1 million (US$7.9 million) for the first six months of 2020, compared to net loss of RMB34.9 million for the first six months of 2019. The net loss for the first six months of 2020 was due in part to one-time charges and expenses of RMB19.4 million related to the Company’s initial public offering (“IPO”) and non-cash share-based compensation of RMB17.5 million.
  • Debt has been dropped significantly (a decrease of approximately 84%) compared to the end of last year (December 31, 2019).

Business Highlights for the First Six Months of 2020

  • The Company successfully listed on the NASDAQ stock exchange on January 30, 2020
  • The San Jose, California US lab received the College of American Pathologists (“CAP”) certification. The lab also started to validate a COVID-19 antibody test on a major supplier’s FDA emergency use approved instrument and expects to commercialize the test in the second half of the year.
  • The Philadelphia, Pennsylvania US lab completed renovations and the 1st phase of instrument installation was finalized.
  • Two new products were launched, including a proprietary immunology test named ADME (AnPac Defense Medical Examination) and a new cancer test package named APCS (AnPac Pan Cancer Screening) combining CDA technology with ct-DNA methods.
  • Company continued to receive validation on the efficacy of CDA testing through study follow-ups.  As of June 30, 2020, AnPac Bio had contacted over 22,393 tested individuals in China and received substantive feedback regarding health conditions and disease development from 13,488 individuals.
  • As of June 30, 2020, the Company filed 238 patent applications globally; among these, 128 patents have been granted.
  • The Company continued to build a cancer risk assessment database, which totaled approximately 180,500 samples as of June 30, 2020, including approximately 137,200 samples from commercial CDA-based tests and approximately 43,300 samples from research studies.

Dr. Chris Yu, AnPac Bio’s Chairman and CEO commented: “We have accomplished a number of critical milestones in the first half of the year, including its successful listing on the NASDAQ Global Markets, the launch of two new products, such as our AnPac Defense Medical Examination immunology test. We have continued to work in obtaining the Class III medical device certification in China and laboratory developed test (LDT) designation in the US. We have improved our financial performance with increased revenue, gross margin and average selling price, and reduced our operating loss, with additional cost-cutting measures to take effect during the second half of the year. The above milestones were achieved despite the outbreak of COVID-19 in the period. Looking ahead, we are optimistic about further revenue growth and gross profit increases, and new test qualification and launches in the second half of the year and in future.”

Financial Results for the First Six Months of 2020

Revenue

Total revenues increased by 3.4% to RMB4.1 million (US$ 0.6 million) for the first six months of 2020 from RMB3.9 million for the first six months of 2019, primarily due to an increase in our ASP for the sales of cancer screening and detection tests.

Cost of Revenues

Cost of revenues decreased by 3.5% to RMB2.2 million (US$0.3 million) for the first six months of 2020 from RMB 2.3 million for the first six months of 2019. The decrease was primarily attributable to the Company’s streamlining of various staffing functions and less staff costs following the Chinese government’s stimulus policies in light of the COVID-19 pandemic. The decrease in our cost of revenues was also attributable to a decrease in outsourced testing expenses, as we performed more tests in our own labs.

Gross Profit and Gross Margin

Gross profit increased by 13.1% to RMB1.8 million (US$0.3 million) for the first six months of 2020 from RMB1.6 million for the first six months of 2019. Gross margin was 45.3% for the first six months of 2020, an increase of 3.9 percentage points from 41.4% for the first six months of 2019.

Selling and Marketing Expenses

Selling and marketing expenses decreased by 24.0% to RMB4.7 million (US$0.7 million) for the first six months of 2020 from RMB6.1 million for the first six months of 2019, primarily due to less share-based compensation.

Research and Development Expenses

Research and development expenses increased by 64.4% to RMB7.4 million (US$1.1 million) for the first six months of 2020 from RMB4.5 million for the first six months of 2019, primarily due to increased research activities under one of our research projects.

General and Administrative Expenses

General and administrative expenses increased by significantly to RMB50.7 million (US$7.2 million) for the first six months of 2020 from RMB24.0 million for the first six months of 2019, primarily due to higher professional service fees, which were primarily related to our IPO.

Interest Expenses

Interest expenses decreased by 59.7% to RMB517,000 (US$73,000) for the first six months of 2020 from RMB1,284,000 for the first six months of 2019, primarily due to our repayment of the short-term loans that were incurred prior to our IPO.

Other Income, Net

Net other income increased by significantly to RMB7.3 million (US$1.0 million) for the first six months of 2020 from RMB0.8 million for the first six months of 2019, primarily due to the reversal in fair value of the convertible loans that we borrowed from Zhijun after we repaid these loans.

Net Loss

Net loss was RMB56.1 million (US$7.9 million) for the first six months of 2020, compared to net loss of RMB34.9 million for the first six months of 2019. Basic and diluted loss per share was RMB5.12 (US$0.72) for the first six months of 2020, compared to that of RMB4.03 for the first six months of 2019.

Balance Sheet

As of June 30, 2020, the Company had cash and cash equivalents of RMB10.0 million (US$1.4 million), compared to RMB6.1 million as of December 31, 2019.

Cash Flow

Net cash used in operating activities was RMB53.9 million (US$7.6 million) for the first six months of 2020, compared to RMB22.2 million for the first six months of 2019.

Net cash used in investing activities was RMB1.2 million (US$0.2 million) for the first six months of 2020, compared to RMB0.4 million for the first six months of 2019.

Net cash provided by financing activities was RMB58.9 million (US$8.3 million) for the first six months of 2020, compared to RMB20.9 million for the first six months of 2019.

Conference Call

The Company’s management will host an earnings conference call at 8:00 am Eastern Time on September 10, 2020 (5:00 am Pacific Time/8:00 pm Beijing Time) to discuss the financial results for the first six months ended June 30, 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: September 10, 2020
Time: 8:00 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 September 17, 2020. 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 10147575.

A live webcast of the call will also be available at https://services.choruscall.com/links/anpc200828.html.

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 128 issued patents as of June 30, 2020. 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. According to Frost & Sullivan, AnPac Bio ranked third worldwide and first in China 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 May 2020. 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)

 

         
    December 31,2019 June 30, 2020 June 30, 2020
    RMB RMB US$
         
ASSETS        
Current assets:        
Cash and cash equivalents…………………………………………………………………………………………   6,125 9,967 1,411
Advances to suppliers……………………………………………………………………………………………….   1,093 7,525 1,065
Accounts receivable, net of allowance for doubtful accounts…………………………………..   1,295 2,219 314
Amounts due from related parties……………………………………………………………………………..   555 905 128
Inventories…………………………………………………………………………………………………………………   313 205 29
Other current assets…………………………………………………………………………………………………..   12,790 4,075 577
         
Total current assets………………………………………………………………………………………………………………   22,171 24,896 3,524
         
Property and equipment, net………………………………………………………………………………………………..   18,868 18,819 2,664
Land use rights, net………………………………………………………………………………………………………………   1,194 1,180 167
Intangible assets, net…………………………………………………………………………………………………………….   5,200 4,896 693
Goodwill………………………………………………………………………………………………………………………………   2,223 2,223 315
Long-term investments………………………………………………………………………………………………………..   2,326 1,613 228
Other assets………………………………………………………………………………………………………………………….   1,000 862 120
         
TOTAL ASSETS………………………………………………………………………………………………………………. .   52,982 54,489 7,711
         
LIABILITIES AND SHAREHOLDERS’ DEFICIT        
Current liabilities:        
Short-term debt………………………………………………………………………………………………………….   38,568 6,000 849
Accounts payable………………………………………………………………………………………………………   1,800 1,508 213
Advance from customers…………………………………………………………………………………………..   2,450 2,363 334
Amounts due to related parties………………………………………………………………………………….   4,597 2,009 284
Accrued expenses and other current liabilities………………………………………………………….   18,782 14,562 2,061
         
Total current liabilities…………………………………………………………………………………………………………   66,197 26,442 3,741
Deferred tax liabilities………………………………………………………………………………………………………….   1,134 1,089 154
Other long-term liabilities……………………………………………………………………………………………………   1,575 2,388 338
         
TOTAL LIABILITIES…………………………………………………………………………………………………….. .   68,906 29,919 4,233
Commitments and contingencies………………………………………………………………………………………        

 

ANPAC BIO-MEDICAL SCIENCE CO., LTD.

CONSOLIDATED BALANCE SHEETS — (Continued)

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

         
    December 31,2019 June 30, 2020 June 30, 2020
    RMB RMB US$
         
Shareholders’ deficit:        
Ordinary shares (US$0.01 par value per share; 100,000,000 and Nil shares authorized as of December 31, 2018 and 2019; 8,596,900 and Nil shares issued and outstanding as of December 31, 2018 and 2019, respectively)        
Class A Ordinary shares……………………………………………………………………………………………   466 556 79
Class B Ordinary shares…………………………………………………………………………………………….   191 193 27
Additional paid-in capital………………………………………………………………………………………….   257,736 350,383 49,593
Accumulated deficits…………………………………………………………………………………………………    (276,476) (332,535) (47,067)
Accumulated other comprehensive (loss) income…………………………………………………….   2110 5,572 789
         
Total AnPac Bio-Medical Science Co., Ltd. shareholders’ deficit……………………………………..    (15,973) 24,169 3,421
Noncontrolling interests…………………………………………………………………………………………….    49 401 57
         
Total shareholders’ deficit………………………………………………………………………………………………….    (15,924) 24,570 3,478
         
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT……………………………………….   52,982 54,489 7,711
         
         

 

 

ANPAC BIO-MEDICAL SCIENCE CO., LTD.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

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

 

     
    Six Months Ended June 30,
    2019 2020 2020  
    RMB RMB US$  
Revenues: Notes        
Cancer screening and detection tests……………………………………………….   4,076 4,036 571  
Physical checkup packages………………………………………………………………   (157) 15 2  
           
Total revenues…………………………………………………………………………………………..    3,919 4,051 573  
Cost of revenues…………………………………………………………………………………………    (2,295) (2,214) (313)  
           
Gross Profit……………………………………………………………………………………………….    1,624 1,837 260  
           
Operating expenses:          
Selling and marketing expenses……………………………………………………….    (6,145) (4,673) (661)  
Research and development expenses……………………………………………….    (4,521) (7,433) (1,052)  
General and administrative expenses……………………………………………….    (24,031) (50,694) (7,175)  
Other operating income………………………………………………………………………………    191 49 7  
           
Loss from operations………………………………………………………………………………..    (32,882) (60,914) (8,621)  
           
Non-operating income and expenses:          
Interest expense, net…………………………………………………………………………    (1,284) (517) (73)  
Foreign exchange loss, net……………………………………………………………….    (1,871) (2,045) (289)  
Share of net (loss) gain in equity method investments…………………….    204 108 15  
Other income (expense), net…………………………………………………………….   798 7,256 1,027  
           
Loss before income taxes    (35,035) (56,112) (7,941)  
Income tax benefit………………………………………………………………………………………   109 35 5  
           
Net loss……………………………………………………………………………………………………….    (34,926) (56,077) (7,936)  
         
Net loss attributable to noncontrolling interests……………………………………    (251) (18) (3)  
           
Net loss attributable to ordinary shareholders………………………………………    (34,675) (56,059) (7,933)  
           
Loss per share:          
   Ordinary shares – basic and diluted…………………………………………………………    (4.03) (5.12) (0.72)  
           
Weighted average shares outstanding used in calculating basic and diluted loss per share          
   Ordinary shares – basic and diluted…………………………………………………………     8,603,687 10,952,271 10,952,271
           
Other comprehensive income, net of tax:          
Fair value change relating to Company’s own credit risk on convertible loan………………………………………………………………………………….   (472) (109) (15)  
Foreign currency translation differences………………………………………………     (439) 3,571 505  
           
Total comprehensive loss…………………………………………………………………………   (35,837) (52,615) (7,446)  
Total comprehensive loss attributable to noncontrolling interests………..   (251) (18) (3)  
           
Total comprehensive loss attributable to ordinary shareholders………..    (35,586) (52,597) (7,443)  
           

 

ANPAC BIO-MEDICAL SCIENCE CO., LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS

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

 

 

  Six Months Ended June 30,
  2019 2020 2020 2019
  RMB RMB US$ RMB
Operating activities:        
Net loss………………………………………………………………………………………………  (34,924) (56,076) (7,937) (101,621)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Depreciation and amortization………………………………………………. 898 1,513 214 2,664
Share of net loss (gain) in equity method investments………….. (204) (108) (15) (190)
Bad debt expense……………………………………………………………………  (234) (116) (16) 285
(Gains) losses on disposal of land use rights and property and equipment………………………………………………………………………….   26 4 4
Foreign exchange loss, net…………………………………………………….. (421) 3,858 546 4,133
Share-based compensation…………………………………………………….. 13,483 17,548 2,484 32,855
Fair value loss on convertible loans……………………………………….   1,659 (7,289) (1,032) 5,296
Inventory provision………………………………………………………………… 304 37 5 304
Impairment of long-term investment………………………………………   820 116 1,320
Changes in operating assets and liabilities:        
Advances to suppliers…………………………………………………………….   2,145 (6,432) (910) 1,714
Accounts receivable………………………………………………………………..  (853) (808) (114) 1,286
Inventories………………………………………………………………………………   (336) 71 10 (555)
Amounts due from related parties………………………………………….. (1,259) (350) (50) (286)
Other current assets………………………………………………………………..   (3,778) (1,049) (148) (2,875)
Other assets……………………………………………………………………………. 667 138 20 462
Accounts payable……………………………………………………………………  (324) (292) (41) 182
Amounts due to related parties……………………………………………….   474 (2,588) (366) 1,060
Advance from customers………………………………………………………..   (1,069) (87) (12) (1,863)
Accrued expenses and other current liabilities……………………….   2,445 (2,531) (361) 8,233
Other long-term liabilities………………………………………………………  (822) (171) (24) (920)
Deferred tax liabilities……………………………………………………………. (44) (45) (6) (88)
         
Net cash used in operating activities……………………………………………………………  (22,193) (53,931) (7,633) (48,600)
         
Investing activities:        
Purchases of property and equipment……………………………………………  (250) (1,180) (167) (2,790)
Purchases of intangible assets………………………………………………………..  (115) (9) (1) (371)
Proceeds from disposal of land use rights……………………………………..   17 2  
Proceeds from short-term investments………………..   13,749 191,147 27,055 20,929
Purchase of short-term investments…………………….  (13,749) (191,147) (27,055) (20,929)
Purchase of long-term investments……………………..       (300)
         
Net cash used in investing activities…………………………………  (365) (1,172) (166) (3,461)
         
       

  

ANPAC BIO-MEDICAL SCIENCE CO., LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS — (Continued)

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

 

  Six Months Ended June 30,
  2019 2020 2020 2019
  RMB RMB US$ RMB
         
Financing activities:        
Proceeds from short-term borrowings………………………………………………..  18,300     24,300
Payment for short-term borrowings……………………………………………………  (18,300) (8,000) (1,132) (18,300)
Proceeds from long-term borrowings   984 139  
Repayment of related party loan………………………………………………………..       (150)
Capital contribution from noncontrolling interest holders………………… 10 370 52 610
Advance from investors…………………………………………………………………….. 4,812      
Payment for Convertible loans…………………………………………………………..   (17,752) (2,513)  
Proceeds from issuance of ordinary shares………………………………………..  16,145 100,655 14,247 47,602
Payment for initial public offering costs…………………………………………… (103) (17,374) (2,459) (7,954)
         
Net cash generated from financing activities………………………………………………..  20,864 58,883 8,334 46,108
         
         
Effect of exchange rate changes on cash and cash equivalents……………………. 13 62 9 (809)
         
         
Net increase (decrease) in cash and cash equivalents…………………………………..  (1,681) 3,842 544 (6,762)
Cash and cash equivalents at beginning of year……………………………………………  12,887 6,125 867 12,887
         
Cash and cash equivalents at end of year……………………………………………………..  11,206 9,967 1,411 6,125
         
         
Supplemental disclosure of cash flow information:        
Interest paid…………………………………………………………………………………………………..  537 17,752 2,513 1,028
         
Supplemental disclosure of non-cash investing and financing activities:        
Purchase of ordinary shares when registered included in advance from investors……………………………………………………………………………….       25,000
Purchase of property and equipment included in accrued expenses and other current liabilities…………………………………………………………… (26) 15 2 15
         
         

 

AnPac Bio Announces Positive Results from a Multi-Year Lung Cancer Prognosis and Recurrence Clinical Study

FOR IMMEDIATE RELEASE

AnPac Bio Announces Positive Results from a Multi-Year Lung Cancer Prognosis and Recurrence Clinical Study

San Jose, CA, September 4, 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, announced today positive results from a successfully completed a multi-year lung cancer prognosis and recurrence study in collaboration with a major hospital in China. The clinical study began in 2014, with the enrollment and completed all follow-up and testing in 2020. Approximately 1,000 confirmed lung cancer patients were tested in the clinical study using AnPac Bio’s cancer differentiation analysis (CDA) technology for prognosis and recurrence utility evaluations throughout initial diagnosis, surgery, chemotherapy and other treatments, and remission (for recurrence monitoring).

Initial results from the study indicate that CDA technology could act as a viable tool for measuring and evaluating (1) lung cancer treatment and efficacy and (2) recurrence following remission.   Furthermore, AnPac Bio believes that compared with many competing methods, CDA technology, which is based on bio-physical signals in the blood, is more cost effective. A summary of the results from this multi-year clinical study are as follows:

  • CDA value is a good indicator of a patient’s response to treatment. CDA values are statistically different between complete response (CR) patient group and stable disease (SD) patient group, and between CR patient group and progressive disease (PR) patient group, indicating that CDA could be used for cancer prognosis.
  • Patient groups with higher CDA values (higher cancer risk or progression) have statistically lower five-year survival probability than patient groups with lower CDA values (lower cancer risk or progression) which shows that CDA values could be a good indicator predicting the outcome of a treatment (survival probability).
  • In a number of cases, CDA values increased ahead of the onset of the cancer’s recurrence, indicating that CDA technology could potentially be used as a recurrence monitor.

Dr. Chris Yu, AnPac Bio’s Chairman and CEO commented: “We are very pleased with the positive results from this multi-year, major clinical study.  The results show that CDA is not only suited for cancer screening and cancer prevention purposes, but can also be a viable tool for cancer prognosis and recurrence monitoring. Additional clinical studies will be carried out to provide further validation for these encouraging results.”

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 128 issued patents as of June 30, 2020. 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. According to Frost & Sullivan, AnPac Bio ranked third worldwide and first in China 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 at May 2020. 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 to Report its First Six Months 2020 Financial Results on Thursday, September 10, 2020

AnPac Bio to Report its First Six Months 2020 Financial Results on Thursday, September 10, 2020

Earnings Call Scheduled for 8:00 am ET on September 10, 2020

San Jose, CA, August 28, 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 announced today that it has rescheduled to release its first six month 2020 unaudited financial results on Thursday, September 10, 2020, before the open of U.S. markets.

The Company’s management will host an earnings conference call at 8:00 am Eastern Time on September 10, 2020 (5:00 am Pacific Time/8:00 pm Beijing Time) to discuss the financial results for the first six months ended June 30, 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: September 10, 2020
Time: 8:00 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 September 17, 2020. 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 10147575.

A live webcast of the call will also be available at https://services.choruscall.com/links/anpc200828.html.

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 128 issued patents as of June 30, 2020. 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. According to Frost & Sullivan, AnPac Bio ranked third worldwide and first in China 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 May 2020. 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 Philadelphia Lab Gains U.S. CLIA Lab Certification

FOR IMMEDIATE RELEASE

AnPac Bio Philadelphia Lab Gains U.S. CLIA Lab Certification

San Jose, CA, August 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 announced today that the company received a certificate of registration this month under the U.S. Clinical Laboratory Improvement Amendments of 1988, or CLIA, for its approximately 7,000 square foot lab in Philadelphia, Pennsylvania.  The AnPac Bio Philadelphia lab is dedicated to cancer differentiation analysis (CDA) liquid biopsy research as well as various other commercial diagnostic testing.

Dr. Chris Yu, AnPac Bio’s Chairman and CEO commented: “We are very pleased about the CLIA registration for our laboratory in Philadelphia, Pennsylvania.  We plan to continue our research and commercialize our CDA technology for cancer risk assessment as well as perform other commercial diagnostic tests in our Philadelphia lab, including COVID-19 antibody testing. We are fully committed to innovation and commercialization in the United States.  The CLIA registration of our Philadelphia lab is a testimony that we adhere to the highest standards in the industry, and it is a major milestone towards our commercialization in the U.S.”

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 128 issued patents as of June 30, 2020. 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. According to Frost & Sullivan, AnPac Bio ranked third worldwide and first in China 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 May 2020. 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 Opens US Philadelphia Lab Operations

FOR IMMEDIATE RELEASE

AnPac Bio Opens US Philadelphia Lab Operations

San Jose, CA, August 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, announced today that the Company has commenced operations of its new Philadelphia lab, with the completion of its facility renovation and first phase equipment installation in July 2020.  A Roche Cobas e411 machine, a diagnostic analyzer, which has received the FDA’s Emergency Use Authorization for performing COVID-19 anti-body tests, is among the Laboratory’s first phase equipment.

“AnPac Bio plans to perform both cancer screening research on its CDA technology and offer for commercial purposes COVID-19 antibody tests using the Roche Cobas e411 machine once these tests have been respectively qualified and approved as per FDA regulations,” said Dr. Chris Yu, AnPac Bio’s CEO. In addition, Dr. Yu explained that “the Company’s San Jose lab has been validating the COVID-19 anti-body test on Roche’s Cobas e411 machine since the second quarter of 2020, and after the validation is completed in the second half of 2020, AnPac Bio will conclude any other regulatory approvals in order to begin commercial transactions.”

AnPac Bio’s CEO, Dr. Chris Yu, further commented, “The commencement in operations of our Philadelphia lab signals that AnPac Bio is entering into a new growth phase in the United States. Our significant patent portfolio (19 US issued patents to date), highly innovative cancer screening technology (Cancer Differentiation Analysis Technology (CDA)) and its sample size (> 180,000 samples), reputable medical institution partners, and now our bio-medical labs on both the East and the West coasts, will greatly contribute to our success in the US.”

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 128 issued patents as of June 30, 2020. 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. According to Frost & Sullivan, AnPac Bio ranked third worldwide and first in China 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 at May 2020. 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 Validating Approved COVID-19 Antibody Test

FOR IMMEDIATE RELEASE

AnPac Bio Validating Approved COVID-19 Antibody Test

San Jose, CA, August 7, 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 announced today that the Company has been validating an approved COVID-19 antibody test, which has received the FDA’s Emergency Use Authorization, for commercial use in its San Jose, California lab since the second quarter of 2020, with expected validation completion in the second half of 2020.

As COVID-19 cases are still on the rise and no clear short-term containment in sight, COVID-19 tests will likely have both long-term and widespread demand.  As such, the Company is fully committed to validating the aforementioned approved COVID-19 antibody test.

AnPac Bio’s CEO, Dr. Chris Yu, commented, “AnPac Bio is entering into a fast growing phase of rapid new products and services development. Following the successful launch of our immunology product and CDA/ct-DNA combination test product in the first half of this year, the pending commercialization of an approved COVID-19 antibody test will be another major new product and service which AnPac Bio will offer that will accelerate our revenue growth. Our CLIA and CAP accredited clinical laboratory in the U.S. allows us to take advantage of commercial market opportunities in the U.S. by offering additional laboratory services while also continuing our research and development on our CDA technology.”

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 128 issued patents as of June 30, 2020. 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. According to Frost & Sullivan, AnPac Bio ranked third worldwide and first in China 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 at May 2020. 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.

 

 

 

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