AnPac Bio and New Investor Sign Equity Investment Totaling $15M
PHILADELPHIA, April 11, 2022 (GLOBE NEWSWIRE) — AnPac Bio-Medical Science Co., Ltd. (“AnPac Bio”, the “Company” or “we”) (ANPC), a biotechnology company operating in the United States and China focused on screening and early detection of cancer, announced that on April 4 2022, the company and Hunan Weitou Technology Co., Ltd. (“New Investor”) signed a legally binding investment totaling $15 million to be invested in five installments over the next 30 months.
Under the terms of the agreement, the new investor will invest $3 million at the start of every 6 months. The first $3 million, in the form of private equity investment, has a purchase price of $0.414 per share. The first tranche of investment is expected to be completed in April 2022.
Dr. Ai-Dong Chen, Chairman of the Board and CEO of the company, said, “This long-term equity investment is meaningful and important for the growth of our company. It also demonstrates investor confidence in the prospects of our company and its cutting-edge technology. We have a very strong track record in innovation, significant intellectual property including over 260 patent applications filed and 150 patents granted, the largest cancer detection database in the world and the largest size of sample (in the next-generation cancer detection technologies space) according to Frost & Sullivan, and cutting-edge new cancer detection technology that is already saving lives every week.
About AnPac Bio
AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 150 patents granted as of September 30, 2021. With two certified clinical laboratories in China and a 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), biochemical, immunological and genomic tests. According to a report by Frost & Sullivan, AnPac Bio ranked first in the world in terms of sample volume for screening tests and detection of multiple cancers (cumulative through January 2021). 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:
Phil Case, Marketing and Investor Relations
Phone: +1-267-810-6776 (US)
E-mail: [email protected]
Ascent Investor Relations LLC
Tina Xiao, President
Phone: +1-917-609-0333 (US)
E-mail: [email protected]
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. of 1995 and relate to the future financial and operating performance of the Company. The Company has attempted to identify forward-looking statements by terminologies such as “believes”, “estimates”, “anticipates”, “expects”, “plans”, “projects”, “intends”, “potential”, “target”, “aim”, “predict”, “outlook”, “seek”, “goal”, “objective”, “assume”, “consider”, “continue”, “positioned”, “plan” , “probable”, “may”, “could”, “could”, “will”, “should”, “approximately” or other words that convey uncertainty of future events or results to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments regarding, 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 control of the Company. These statements also involve known risks and unknowns, uncertainties and other factors that may cause the Company’s actual results to differ materially from those expressed or implied by any forward-looking statements. Known and unknown risks, uncertainties and other factors include, but are not limited to, our ability to comply with Nasdaq listing rules, implementation of our business model and growth strategies; trends and competition in the cancer screening and detection market; our expectations regarding market demand and 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 technological developments; our ability to obtain and maintain regulatory approvals from the NMPA, FDA and relevant US states and to have our laboratories certified or accredited by authorities such as CLIA; our future business development, financial condition and results of operations and our ability to obtain financing on a cost-effective basis; potential changes in governmental regulations; general economic and business conditions in China and elsewhere; our ability to hire and retain key personnel; our relationships with our major business partners and customers; and the duration of the coronavirus outbreaks and their potential adverse impact on economic and financial market conditions and our business and financial performance, as resulting from reduced business activities due to quarantines and travel restrictions instituted by China, the United States and many other countries around the world to contain the spread of the virus. In addition, 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. United. Due to these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. Further, such statements speak only as of the date of this press release and, except as required by law, the Company undertakes no obligation to publicly revise or update any forward-looking statements for any reason. it would be.