PHILADELPHIA, July 21, 2021 (GLOBE NEWSWIRE) – AnPac Bio-Medical Science Co., Ltd. (“AnPac Bio”, the “Company” or “We”) (NASDAQ: ANPC), a biotechnology company with offices in China and the United States focused on cancer screening and detection, announced today that it has a Agreement with Advanced Life Therapeutics Co., Ltd. (“Advanced Life Therapeutics”), in which the company has a minority interest of 40%. to conduct contract research and development on integrated circuit components for medical devices used in cancer treatment. As part of the multi-year contractual agreement, the company will design, manufacture, test and optimize key components of a medical device for treating cancer. The company expects to begin generating revenue from this contract research and development project in the third quarter of this year.
The company is also in later stages of partnership / collaborative discussions with a number of large medical industry companies to (a) increase the company’s commercial revenue based on cancer testing based on cancer differentiation analysis (CDA); and (b ) to expand the company’s new product pipeline, in which the company and its partners will jointly develop medical devices that will leverage AnPac Bio’s strong expertise in core components based on integrated circuits (IC) in medical devices.
Dr. Commenting on this progress, Chris Yu, CEO of Anpac Bio, said, “We are excited to begin our first medical device contract research and development to generate additional revenue streams for our company. We also look forward to entering into the upcoming key partnerships / collaborations to grow our core cancer screening and detection test revenue and expand our product pipeline. ”
About AnPac Bio
AnPac Bio is a biotechnology company focused on the early detection and detection of cancer with 142 patents granted as of March 31, 2021. With two certified clinical laboratories in China and one CLIA and CAP accredited clinical laboratory and one CLIA registered clinical laboratory in USA, AnPac Bio performs a range of cancer early detection and detection tests, including CDA (Cancer Differentiation Analysis), biochemical, immunological and genomic tests. According to Frost & Sullivan, AnPac Bio ranked third worldwide among companies offering technologies for the early detection and detection of next-generation cancer based on the number of clinical samples for cancer screening and detection based on approximately 41,700 clinical samples at the December 31, 2019. AnPac Bio’s CDA technology platform has shown in retrospective validation studies that it can detect the risk of over 20 different types of cancer with high sensitivity and specificity.
Further information can be found at: https://www.Anpacbio.com.
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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 relate to the future financial and operational performance of the company. The company has attempted to identify forward-looking statements using terminology including “believes”, “estimates”, “anticipates”, “expects”, “plans”, “projects”, “intends”, “potentially”, “aims”, “Aim”, “predict”, “look out”, “strive”, “aim”, “aim”, “assume”, “rethink”, “continue”, “positioned”, “predict”, “likely”, “can “,“ Could, ”“ could, ”“ will, ”“ should, ”“ approximately ”or other words that convey uncertainty about future events or results used to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties, including but not limited to judgments about 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 control of the company. These statements also involve known and unknown risks, uncertainties and other factors that could cause the company’s actual results to differ materially from those expressed or implied in any forward-looking statements. 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 for the 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 protection for our CDA technology and our continuous research and development to keep up with technological developments; our ability to obtain and maintain regulatory approvals from the NMPA, FDA, and relevant US states and to have our laboratories certified or accredited by government agencies, including the CLIA; our future business development, financial position and results of operations and our ability to obtain financing inexpensively; possible changes in government regulations; general economic and business conditions in China and elsewhere; our ability to hire and retain key personnel; our relationship with our key business partners and customers; and the duration of the coronavirus outbreaks and their potential negative impact on economic conditions and financial markets, as well as our business and financial performance, e.g. the world, to contain the spread of the virus. In addition, all forward-looking statements are subject to the “Risk Factors” set out from time to time in the company’s latest annual report on Form 20-F and other filings with the Securities and Exchange Commission. Because of these and other risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. In addition, these statements speak only as of the date of this press release, and the company undertakes no obligation to publicly revise or update any forward-looking statements for any reason, except as required by law.