AnPac Bio Files Coronavirus Detection Patent and Initiates Related Research Project

SAN JOSE, Calif., Feb. 27, 2020 /PRNewswire/ -- AnPac Bio-Medical Science Co., Ltd. ("AnPac Bio," the "Company" or "we") ANPC, a biotechnology company with operations in China and the United States focused on early cancer screening and detection, today announced that it has filed a provisional patent application on the use of AnPac Bio's novel detection technology, methods and apparatus for coronavirus detection with the US Patent Trademark and Office on February 10, 2020, which could later lead to formal patent applications in China and other countries.  AnPac Bio also announced today that it has entered into a project cooperation agreement with a hospital in China to conduct research studies on the ability of AnPac Bio's CDA (Cancer Differentiation Analysis) technology to detect the risk of coronavirus, which is expected to be a very challenging and long term project for AnPac Bio.

While AnPac Bio's focus has been on cancer risk assessment, AnPac Bio's bio-physical-property based CDA technology has also been evaluated for other major non-cancerous diseases, and valuable information and data have been collected on clinical samples on major non-cancerous diseases.  "Exploring the CDA technology's ability to detect the risk of major non-cancerous diseases and broadening its product offerings for other life threatening diseases has been part of AnPac Bio's business strategies for years," commented Chairman and CEO Dr. Chris Yu.

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 121 issued patents as of September 30, 2019. With two certified clinical laboratories in China 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. In a recent market research report by Frost & Sullivan, AnPac Bio ranked second 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 35,000 clinical samples as at June 30, 2019. AnPac Bio's CDA technology 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; and our relationship with our major business partners and customers. 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.

SOURCE AnPac Bio-Medical Science Co., Ltd.