NEW
YORK, April 3, 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 entering into the operation of a
business-to-business e-commerce food platform focused on the sale
of Asian sourced food products, announced that on March 31, 2023, the Company entered into an asset
purchase agreement (the "Agreement") with Easy Hundred Inc. ("Easy
Hundred"), a U.S.-based e-commerce company in the foodservice
industry, through which the Company will acquire certain fixed
assets of Easy Hundred and Easy Hundred's intellectual property
relating to ez100, 2Supply and 100WAY. The intellectual property
includes a full set of e-commerce platform source codes, covering
websites, apps, and management systems.
ez100 is a U.S. restaurant supply e-commerce platform that
provides takeout disposables, dry goods, sauces, janitorial
supplies, system accessories, dinnerware, equipment, and
customizable supplies for restaurant use.
2Supply is an online marketplace for restaurant suppliers
and operators to better manage their sales and purchases. 100WAY
concentrates on restaurant reviews and discounts, offering
effective marketing approaches for restaurants to connect with
their customers, which not only improves customer stickiness but
also brings more brand benefits in the long term. 100WAY cooperates
with select restaurants and offers 100WAY PASS for customers to
enjoy a completely new method of obtaining food discounts with
ease.
Pursuant to the Agreement, the Company agreed to purchase the
intellectual property relating to ez100, 2Supply and 100WAY and
certain fixed assets for the consideration of $8,149,595, payable in the form of $730,000 in cash and 17,665,702 Class A ordinary
shares of the Company. The initial closing of the transaction took
place on March 31, 2023.
This transaction is a critical step of the Company's business
strategy of entering into the U.S. food market by optimizing the
industry supply chain and will supplement recently acquired Fresh2
Ecommerce Inc.'s business-to-business e-commerce platform focused
on connecting Asian food suppliers and supermarkets in the U.S.
Mr. Haohan Xu, the Co-CEO of the
Company, commented, "Easy Hundred has some significant
shareholders, such as the well-known technology company Menusifu,
and has received investments from Amino Capital, Himalaya A Fund
III LP, and other institutional investors in the past. The
acquisition of Easy Hundred's assets is a strategic initiative to
accelerate our business growth in the U.S. food market. Easy
Hundred's one-stop restaurant supplies wholesale platform ez100,
online marketplace 2Supply, and restaurant reviews and discounts
app 100WAY will provide us with a strong foundation for our
business development and expansion in the U.S."
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 is enterring 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 (U.S.)
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 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
reason.
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SOURCE AnPac Bio-Medical Science Co., Ltd.