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.

 

 

 

AnPac Bio Announces Preliminary Results From Prospective Trials Indicating Early-Stage Cancer Screening Effectiveness

FOR IMMEDIATE RELEASE

AnPac Bio Announces Preliminary Results From Prospective Trials Indicating Early-Stage Cancer Screening Effectiveness

San Jose, CA, August 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 focused on early cancer screening and detection, announced today preliminary results from two prospective studies demonstrated that AnPac Bio’s Cancer Differentiation Analysis (CDA) based tests have the ability to assess the risks of cancer occurrence.

In a study of follow-up phone consultations commenced in 2017, over 13,000 individuals (including individuals tested with high risk, medium risk and low risk CDA scores) had provided the company with substantive feedback regarding their health conditions and disease development as of July 31, 2020, and among them, there had been diagnosed over 190 cancer cases, over 900 pre-cancer cases, and 700 disease cases, with higher predictive values being statistically significantly higher from individuals with higher CDA scores.  In another prospective study that began last year with close to 2,000 individuals of 65 years old or above, 10 cancer cases have been confirmed. The above results demonstrated that CDA technology is capable of assessing pre-cancer and early stage cancer risks.

AnPac Bio’s CEO, Dr. Chris Yu, commented, “while there are a number of cancer screening technologies aimed at detecting cancer early, only a limited number of them have proven the ability to do so, with many of them still in the R&D phase.  AnPac Bio’s CDA technology has been demonstrated, in both retrospective and prospective studies, to be able to detect pre-cancer disease and early stage cancer signals with statistical significance.  We are proud to be saving lives“.

Dr. Chris Yu continued, “Cancer screening markets in both US and China are significant and growing. The current global cancer diagnostics market size is $144 Billion and expected to grow up to $249 Billion by 2026. We believe that AnPac Bio is well positioned to capture these markets with our innovative technology, significant patent portfolio, one of the world’s largest clinical sample size among companies offering next-generation early cancer screening and detection technologies, and extensive experience in cancer screening and detection”.

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 Completes Over 180,000 CDA-Based Cancer Risk Assessment Tests

AnPac Bio Completes Over 180,000 CDA-Based Cancer Risk Assessment Tests

San Jose, CA, July 29, 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 it had completed over 180,000 Cancer Differentiation Analysis (“CDA”) based tests as of July 15, 2020.

AnPac Bio had previously completed more than 169,000 CDA-based tests as of March 31, 2020. From April 1, 2020 to July 15, 2020, the Company completed over 10,000 commercial CDA-based tests and over 1,000 CDA-based tests for research purposes, which increased the cumulative number of CDA-based tests to over 180,000.

“We are honored to have achieved this milestone, which demonstrates the market-wide acceptance of our products. We offer a comprehensive product offering to meet different customers’ needs and to address this large and growing market. Our CDA-based test can detect and assess an individual’s overall risk of having or developing cancers, and a cancer risk assessment report is the final product of the test. The report presents the analytical parameters that our CDA test uses, including the PTF, CTF and overall CDA values,” said Dr. Chris Yu, CEO and Chairman of AnPac Bio.

Dr. Chris Yu continued, “Our CDA-based test is advanced in many ways. Unlike conventional cancer screening and detection approaches such as imaging technology and tissue biopsy, our CDA test uses liquid-based technology to detect the risk of cancer and non-cancerous diseases. It is minimally invasive, side effect-free and highly automated. Because it focuses on changes in cancer-related biophysical properties as a disease progresses, we believe that our CDA test can be used for multiple purposes, including early cancer screening and detection, and assistance in cancer diagnosis, prognosis and recurrence.”

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. In a 2019 market research report by 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 Completed 1st Half Year with Increased ASP and Revenue

FOR IMMEDIATE RELEASE

AnPac Bio Completed 1st Half Year with Increased ASP and Revenue

San Jose, CA, July 13, 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, pre-announced certain results from the quarter ending 6/30/20. The Company performed 6,500 paid tests in June 2020, which was almost 50% higher than the average monthly paid tests in 2019.  Based on unaudited numbers for the first half of the year in 2020 through 6/30/20, revenue was slightly higher than in the same period in 2019, while average selling price (ASP) increased over 2019.  AnPac Bio plans to file the 1st half year results on August 28, 2020.

Highlights during the period of the 1st half of 2020:

  • Company successfully listed on the NASDAQ stock exchange on January 30, 2020
  • Volume of paid CDA tests picked up significantly starting in late May through the end of June, with June alone recording about 6,500 paid tests, which is about 50% higher than the monthly average in 2019
  • ASP has increased due to higher pricing for new contracts and more favorable distributor mix
  • Two new products launched, including a novel immunology test product named ADME (AnPac Defense Medical Examination) and a new cancer test package named APCS (AnPac Pan Cancer Screening) combining CDA technology with ct-DNA method
  • San Jose, US lab received CAP certification
  • Philadelphia, US lab completed renovation and 1st phase equipment move-in
  • More patents issued, reaching 128 issued patents in total at the end of June, 2020
  • More hospitals entered into collaborations with the Company in clinical studies, including a study with a leading hospital around coronavirus risks
  • Continue to work on obtaining class III medical device certification in China and laboratory developed test (LDT) in the US

AnPac Bio’s CEO, Dr. Chris Yu, commented, “With COVID-19 under control in China, our business has picked up significantly in the second half of May through June.  Given businesses returning to normal and a new increased awareness about the importance of health and relevant tests for disease prevention, our paid tests have increased.  In addition, our increased ASP for CDA tests, and our new products beginning to contribute to revenues, we expect a strong second half of the year in 2020, and an overall strong growth in revenue for the full year in 2020.”

Dr. Chris Yu continued, “With our successful IPO on the NASDAQ earlier this year, we are now focusing on three areas, mainly new product development, product commercialization, and sales, with an emphasis on execution.  Our results in May and June of this year I believe demonstrate the traction that we are achieving and we are showing real progress in our growth.”

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 Ranked #3 in Liquid Biopsy Clinical Samples Globally by Frost & Sullivan While Retaining #1 Position and Widening its Lead in China in Cancer Screening

FOR IMMEDIATE RELEASE

AnPac Bio Ranked #3 in Liquid Biopsy Clinical Samples Globally by Frost & Sullivan While Retaining #1 Position and Widening its Lead in China in Cancer Screening

San Jose, CA, June 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 Frost & Sullivan has recently ranked AnPac Bio number three globally and number one in China in liquid biopsy for both clinical and commercial samples in the year of 2019 in cancer screening. That includes all next generation early cancer screening technologies, including CTC’s (circulating tumor cells), ct-DNA (circulating tumor DNA), exosomes, CDA (cancer differentiation analysis), mRNA (microRNAs), and other emerging technologies. AnPac Bio’s proprietary CDA platform utilizes combination tests which can both screen for overall cancer risk as well as provide cancer location information.

Frost & Sullivan is a leading business consulting firm involved in market research and analysis. According to the report, paid for by AnPac Bio, AnPac increased its position in China and doubled its lead from last year due to the rapidly growing number of paid commercial tests it provides. Compared with data in 2018, AnPac Bio further widened its lead by more than 100% over the number 2 ranked company in China in paid cancer screening tests in 2019. The report further solidifies AnPac Bio as one of the few commercial next generation early cancer screening technologies (cancer risk assessment) using liquid biopsy that is currently in market. The Company announced on May 18, 2020 that it has completed 169, 800 general population screening & clinical research study samples.

AnPac Bio’s CEO, Dr. Chris Yu, commented, “AnPac Bio has continually demonstrated our unique position in the liquid biopsy and cancer screening market. We have designed and commercialized a cancer risk assessment test that will populate the cancer detection market. Our solution has proven to be simple, low-cost, ability to detect early, and thorough, yet just as accurate and effective as the current standards on the market. Over the last ten years, we have laid the foundation to make our tests as widespread and accessible as possible. As a result, we are now becoming one of the most accepted leaders in the next generation of cancer screening and detection. Our approach has proven to be successful and is further validated by the Frost & Sullivan research data.”

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 Launches New Immunology Test Product Line

FOR IMMEDIATE RELEASE

AnPac Bio Launches New Immunology Test Product Line

San Jose, CA, June 22, 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 launched a new immunology test product line in China during the week of June 15, 2020.  This immunology test product line consists of multiple government-approved immunology related tests, and relies on AnPac Bio’s novel multi-level, multi-parameter scientific approach and expertise along with our proprietary algorithms.

Given the evidence of correlation between degradation in human immune system and cancer occurrence and diseases such as COVID-19, there has been increasing interest in immunology related tests and risk assessments. According to market research the immunology related tests’ market potential is estimated at $3 billion per year in China and growing at ~ 20% annually.  Since the launch of AnPac Bio’s immunology test product line last week, it has already attracted a high level of interest from potential customers.

AnPac Bio’s CEO, Dr. Chris Yu, commented, “As a technology visionary and innovator in the field of early stage cancer screening, we are continually committed to developing new technologies and products related to cancer screening or that are synergistic to our technology platform.  Our new immunology test product line is both related to assessment of a range of diseases, including cancer, our multi-level and multi-parameter approach”.

Dr. Chris Yu continued, “The launch of AnPac Bio’s immunology test product line is expected to significantly strengthen our product portfolio, broaden our customer base and enhance our market position.  As a result, we expect that it will contribute significantly to AnPac Bio’s growth.”

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 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 Signs a Record Multi-Million Dollar Contract for Cancer Screening

FOR IMMEDIATE RELEASE

AnPac Bio Signs a Record Multi-Million Dollar Contract for Cancer Screening

San Jose, CA, June 19, 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 it has entered into a record, three-year strategic cancer screening collaboration contract with Beijing Yuan Jian Health Management Co., Ltd. in China, which has been a client of the Company for the past two years. This contract contains a minimum of 76,000 paid cancer screening tests, including at least 6,000 paid tests in 2020, 25,000 paid tests in 2021, and 45,000 paid tests in 2022. The total value of the contract is slightly over US$3 million and exceeds the previous contract by more than double the number of paid tests per year.

AnPac Bio’s CEO, Dr. Chris Yu, remarked, “Our novel cancer screening technology and tests are receiving increasing acceptance from the healthcare market. Due to our CDA tests’ outstanding performance and competitive costs, we expect to see significant continued market opportunities and growth potential in China.”

Dr. Chris Yu continued, “Our ability to continue receiving multi-year sales contracts demonstrates that our novel technology, quality and service have long sustainability with customers in the market place. At the same time, we are pushing ahead with our commercialization plan of CDA cancer screening tests in the US, with on-going commercialization efforts at our San Jose lab and opening of our second lab at Philadelphia.”

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 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 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 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 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.

 

 

 

 

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