AnPac Bio Receives Major Immunology Testing Contract
AnPac Bio-Medical Science Co. announced a significant 14-month sales contract with Beijing Yuan Jian Health Management for its immunology test, ADME, involving 20,000 paid tests. This follows a two-year relationship with the client. The ADME test leverages AnPac's cancer differentiation technology and is clinically validated. CEO Dr. Chris Yu expressed optimism regarding the market's positive response to new product offerings, indicating potential growth for the company.
- Secured a 14-month contract for 20,000 ADME tests, enhancing revenue stream.
- The ADME test utilizes validated technology, potentially improving market acceptance.
- Positive response from the market may lead to future growth opportunities.
- None.
SAN JOSE, Calif., Sept. 15, 2020 (GLOBE NEWSWIRE) -- 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 entered into a noteworthy sales contract in mid-August 2020 with Beijing Yuan Jian Health Management Co., Ltd. in China for the Company’s newly launched immunology test, AnPac Defense Medical Examination (ADME). Beijing Yuan Jian Health Management has already been a client of AnPac for the past two years. The contract has a duration of 14 months and includes 20,000 paid ADME tests, with the expectation that the test is to be offered to end customers at multiple locations in China.
This new immunology test, especially its design, algorithm and its simple scoring system, is based on the learning and intellectual property of AnPac’s cancer differentiation analysis technology (CDA), while its specific immunology related components, such as data around white blood cells, T cells and complements are already clinically validated and regulatory approved tests.
AnPac Bio’s CEO, Dr. Chris Yu, remarked, “This significant sales contract for our new immunology test ADME showed that our new product initiative and launch has received positive response from the market and our customers. We believe that this new product propel the company forward in exhibiting strong future growth.”
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 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: phil_case@AnPacbio.com
Investor Relations:
Ascent Investor Relations LLC
Tina Xiao, President
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, 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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