AnPac Bio and New Investor Sign Equity Investment Totaling $15 Million
April 11 2022 - 7:30AM
AnPac Bio-Medical Science Co., Ltd. (“AnPac Bio,” the “Company” or
“we”) (ANPC), a biotechnology company with operations in the United
States and China focused on early cancer screening and detection,
announced that on April 4, 2022, the Company and Hunan Weitou
Technology Co., Ltd. (“new investor”) have signed a legally binding
equity investment totaling $15 Million which will 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 beginning of every 6 months.
The first $3 Million, which is in the form of private equity
investment, has a purchase price at $0.414 per share. It is
expected that the first investment installment will be completed in
April 2022.
Dr. Ai-Dong Chen, Chairman of the board and CEO
of the Company, commented: ”This long term equity investment is
significant and important to the growth of our company. It also
shows investors’ confidence in the prospects of our company and its
leading-edge technology. We have a very strong innovation track
record, significant intellectual property, including over 260 filed
patent applications and 150 issued patents, the world’s largest
cancer detection data base and sample size (in new generation
cancer detection technology space) according to Frost &
Sullivan, and a leading edge, novel cancer detection technology
which is already saving lives on the weekly basis.”
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
a report by Frost & Sullivan, AnPac Bio ranked first globally
in multi-cancer screening and detection test sample volume
(accumulative to 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:
Company:
Phil Case, Marketing and Investor RelationsPhone:
+1-267-810-6776 (US)Email: phil_case@AnPacbio.com
Investor Relations:
Ascent Investor Relations LLCTina Xiao, PresidentPhone:
+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,
our ability to comply with Nasdaq Listing Rules, 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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