AnPac Bio’s First Disease Treatment Patent Granted, and Its Cancer Treatment Project Secured Multi-Million Dollar Funds

Rhea-AI Summary

AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) announced the granting of its first disease treatment patent on June 7, 2021, covering novel medical devices for cancer detection and treatment with 25 claims. This is the company's 21st patent issued in the U.S. Additionally, AnPac's newly launched joint venture has secured over $4 million in funding for cancer treatment device fabrication and testing. The CEO emphasized the synergy between their cancer screening and treatment initiatives, reinforcing AnPac's commitment to technological innovation and an expanding intellectual property portfolio.

Positive

• First disease treatment patent granted on June 7, 2021, enhancing intellectual property.
• New cancer treatment joint venture secured over $4 million in funding for device development.

Negative

• None.

PHILADELPHIA, June 18, 2021 (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 as well as cancer treatment, announced today that it has been granted its first disease treatment patent by the United States Patent and Trademark Office on June 7, 2021. The patent covers novel medical devices for both disease detection and treatment applications and has 25 claims. This patent covers novel device structures and methods to modify biological samples for treatment purposes. This latest patent is the twenty first patent granted to AnPac Bio in the United States.

The Company also announced that its newly launched cancer treatment joint venture has secured, via signed legal documents, over four million US dollars of capital contributions from multiple funding sources (including economic development agents and venture capital), which will fund fabrications of cancer treatment medical devices and the device’s subsequent laboratory tests this year. Please refer to the Company’s press release on May 25, 2021 for more information on the newly launched cancer treatment venture.

“We are pleased that AnPac Bio has been granted our first disease treatment patent, whose disease treatment related claims will be licensed to our new cancer treatment joint venture (while future disease treatment only patent applications will be transferred to the cancer treatment joint venture). We are also pleased that our cancer treatment joint venture has secured funding to speed up its cancer treatment developments. Our core business of cancer detection and this new cancer treatment venture are expected to have significant synergies in terms of technology, market, business and customer,” said Dr. Chris Yu, Chairman and CEO of AnPac Bio. “AnPac Bio has always focused on technological innovation and building a strong patent and IP portfolio in cancer screening and detection. We will continue to invest aggressively in advanced cancer detection and treatment technologies and related intellectual property, and maintain our competitiveness in cancer detection.”

Dr. Chris Yu continued, “AnPac Bio will continue to focus on its core business cancer screening while supporting the development of the new cancer treatment joint venture.”

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection as well as cancer treatment, with 142 issued patents 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 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 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 of December 31, 2019. 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.

FAQ

What recent patent was granted to AnPac Bio (ANPC)?

AnPac Bio was granted its first disease treatment patent on June 7, 2021.

How much funding has AnPac Bio's joint venture secured?

The newly launched cancer treatment joint venture secured over $4 million in funding.

What is the focus of AnPac Bio's new joint venture?

The joint venture focuses on developing medical devices for cancer treatment.

How many patents does AnPac Bio hold as of June 2021?

AnPac Bio holds 142 issued patents as of March 31, 2021.