NEW
YORK, March 7, 2023 /PRNewswire/ – AnPac
Bio-Medical Science Co., Ltd. ("AnPac Bio" or 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 today that it has
received the first payment in late February
2023 from a Malaysian customer who had signed a US$1.5 million purchase contract for AnPac Bio's
Model AP9080 cancer detection devices. The Model AP9080 cancer
detection device is based on Company's patented, novel multi-cancer
testing technology named Cancer Differentiation Analysis Technology
(CDA). As the first major sale of the Company's cancer detection
device into the Southeast Asia
region, this is truly a milestone for the Company. It also
signifies that the Company has formally entered the global cancer
detection equipment market, as well as confirmation of AnPac Bio's
novel technology, reputation, and its capability to penetrate into
the vast global market.
Under the terms of the purchase contract, AnPac Bio will provide
its Model AP9080 cancer detection device, maintenance services,
consumables and equipment parts to the Malaysian customer. The
Company will continue to receive revenues from services,
consumables and equipment parts after the equipment sale. The
Malaysian customer plans to set up bio-medical labs, obtain
Laboratory Developed Test (LDT) certification and carry out paid
cancer tests.
The Company's CDA cancer detection technology is based on
measuring biophysical properties in the blood. It has several major
advantages over the traditional technologies, including its ability
to detect multiple cancer types at early stage, while being cost
effective, relatively simple to implement, and provides high
sensitivity and specificity. According to a report by US marketing
research firm Frost & Sullivan in 2021, AnPac Bio ranked number
one in multi-cancer testing sample size in the
world.
Dr. Chris Yu, Co-CEO of the
Company, commented: "We are very pleased with this major milestone
accomplishment. It showed that in addition to China and US, our novel cancer detection
technology is also being recognized in other parts of Asia, which has significant market size and
needs for general population based cancer screening and risk
assessment. Due to our technology's unique advantages
(multi-cancer, cost effective, ability to detect early, and high
sensitivity and specificity), our patented cancer detection
technology is highly suited for the region. We expect significant
revenue and growth potential in the region. We will also work very
hard to replicate this success."
About AnPac Bio
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
visit: https://www.Anpacbio.com.
For investor and media inquiries, please
contact:
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-917-609-0333 (US)
Email: tina.xiao@ascent-ir.com
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, 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.
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SOURCE AnPac Bio-Medical Science Co., Ltd.