Technical Paper on AnPac Bio Novel CDA Cancer Detection Technology Published by Peer-Reviewed International Medical Journal

PHILADELPHIA, Dec. 10, 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, announced today its joint technical paper on novel Cancer Differentiation Analysis (CDA) Technology for multi-cancer screening with multiple leading medical institutions was accepted and published online on November 30, 2021 by the Expert Review of Molecular Diagnostics, a peer-reviewed international medical journal that has an impact factor of 5.2.

The title of the published paper is “Development and Evaluation of Cancer Differentiation Analysis Technology: A Novel Biophysics-Based Screening Method”. The co-authors of the paper included several leading medical institutions in China, including the School of Medicine, Shanghai Jiao Tong University, and Department of Statistics and Data Management at Children’s Hospital of Fudan University. The paper reported the mechanism of CDA technology, as well as an extensive, multi-year, multi-cancer screening validation work that included a two-stage study design. This cross-sectional study of CDA testing in the initial stage, included a routine health checkup involving 75,942 individuals which was followed by a prospective population-based cohort study involving 1,957 individuals. The studies concluded that the CDA test is useful for cancer screening with high specificity and moderate sensitivity among healthy individuals and continues to lay both the conceptual and practical foundation for AnPac Bio’s novel biophysics-based test for cancer screening. Based on results from the study, the published technical paper also cited a number of advantages of CDA technology which include its potential suitability for health screening, estimated cost quite comparable or lower than that of other screening methods, and its multi-cancer screening ability for large population.

Dr. Chris Yu, AnPac Bio’s Chairman and CEO commented: “We are very pleased with the publication of our technical paper on CDA cancer detection technology by a peer-reviewed international journal in the field of medicine. The review and subsequent acceptance of our paper based on the novel and original biophysics-based CDA cancer detection technology for publication is very gratifying and indicates what we believe is a positive level of recognition for this approach. The findings reported in this study validates the CDA technology and has laid both the conceptual and practical groundwork for CDA technology to be used in large population cancer screening.” Dr. Chris Yu further commented: “We will continue to invest in research and development, and at the same time, speed up our commercialization process. We believe we are making solid progress in the class III medical device registration process with NMPA (for lung cancer assisting in diagnosis utility), and we now expect to receive the class III medical device license by late 2022.”

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 150 issued patents as of September 30, 2021. 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 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 43,980 clinical samples as of September 30, 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.

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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.