YORK, Feb. 15, 2023 /PRNewswire/ -- AnPac
Bio-Medical Science Co., Ltd. (the "Company") (NASDAQ: ANPC), a
company with operations in the United
States and China focused on
early cancer screening and detection and plans to enter into the
operation of a business-to-business e-commerce food platform
focused on the sale of Asian sourced food products, announced the
closing of the acquisition of GISN (HK) LIMITED ("GISN"), a
technical solution and outsourcing consulting services provider
focused on the digital, internet and Web 3 business transformation
for start-ups and traditional enterprises. This acquisition is a
critical initiative for the Company to improve the efficiency
of its e-commerce operations.
GISN is a highly qualified service provider with extensive
experience in providing technical support for enterprises wishing
to transform from a traditional operating model to a digital
operating model. GISN provides customized technical solutions for
Web3 and payment fields and comprehensive management from design,
R&D, testing, operating and maintenance. With a solid track
record, GISN has developed a smart restaurant internet platform
that integrates service modules of cross-currency payment, ERP and
marketing on a SaaS basis. GISN is committed to providing secure,
highly efficient and low-cost services to its customers.
The acquisition is pursuant to a stock purchase agreement the
Company entered into on January 28,
2023, whereby it agreed to purchase 100% of the issued and
outstanding equity interest of GISN in consideration of
$1,700,000, payable in the form of
newly issued Class A ordinary shares of the Company.
Mr. Haohan Xu, the Co-CEO of the
Company, commented, "We are pleased to announce closing of this
acquisition and expect to see the positive impact of GISN's
expertise on the development of our e-commerce business. This
transaction is the result of a deliberate and thoughtful process.
We evaluated the transaction against our standalone prospects in
the current macroeconomic climate and determined that the
compelling capabilities of GISN will enhance our Company's
prospects. Leveraging on the competitive strengths of GISN, we
believe that we are well-positioned to enter and expand our
e-commerce business efficiently. We believe this transaction will
create long-term values for our shareholders."
About GISN (HK) LIMITED
GISN (HK) LIMITED is a technical solution and outsourcing
consulting service provider focused on the digital, internet, and
Web3 transformation of start-ups and traditional enterprises. GISN
focuses on highly professional and value-added fields including
Web3 and payment. With experience in the internet and Web3 fields,
GISN has a deep understanding of finance, catering and medical care
and helps customers realize the rapid development of their business
platform which enables customers to improve their operating
efficiency, income and security. GISN provides customized business
platform consulting services with its senior industry experts,
experienced technical experts and reliable security
About AnPac Bio-Medical
Science Co., Ltd.
AnPac Bio-Medical Science Co., Ltd.is a biotechnology company
focused on early cancer screening and detection, with 155 issued
patents as of June 30, 2022. 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. The Company intends to enter the
business-to-business e-commerce food business with the formation of
its wholly-owned subsidiary Fresh2 Technology Inc and the
acquisition of Fresh2 Ecommerce Inc.
For more information, please
For investor and media inquiries, please contact:
Ascent Investor Relations LLC
Phone: +1-917-609-0333 (U.S.)
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,
our ability to comply with Nasdaq Listing Rules including maintain
our listing on the Nasdaq Capital Market, 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. A
number of these risks along with additional discussion of
forward-looking statements, are set forth in the Company's Annual
Report on Form 20-F and other reports filed with the Securities and
Exchange Commission. In addition, there is uncertainty about the
spread of the COVID19 virus and the impact it will have on the
Company's operations, global supply chains and economic activity in
general. 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
SOURCE AnPac Bio-Medical Science Co., Ltd.