AnPac Bio-Medical Science (NASDAQ: ANPC) subsidiary AnPac Bio-Medical Science (Lishui) Co. Ltd. has increased its holding in AnPai (Shanghai) Healthcare Management Consultant Co. Ltd., one of its subsidiaries; the increase came after approval was granted by the company audit committee and board of directors. The company announced that in late August 2021 it finalized the share structure registration amendment with the local Administration Management Bureau. Before making the decision, company officials conducted rigorous due diligence that included obtaining financial and legal audits and appraisals by a qualified appraiser. AnPac Bio-Medical Science is a biotechnology company with operations in China and the United States. AnPai is a distributor of AnPac Bio’s cancer test products, posting solid numbers for the past three years with consistent growth in revenues and customer base. According to the announcement, AnPac Bio anticipates AnPai will provide future access to a wider range of customers, resulting in stronger customer channels and sales capability. “AnPac Bio is excited to have completed this important step,” said AnPac Bio CEO and chair Dr. Chris Yu in the press release. “We are able to successfully incorporate with AnPai’s wide diversity customers and high revenue growth through this transaction. In the future, we will achieve faster and greater progress and development in the diversity of customers and the professionalism of our services as well as projected sustainable revenue growth through our greater share ownership. We hope that customers will benefit from AnPac Bio’s CDA technology.”
To view the full press release, visit https://ibn.fm/o4ezX
About AnPac Bio-Medical Science Co. Ltd.
AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 142 issued patents as of March 31, 2021. With one CLIA- and CAP-registered clinical laboratory in the United States and two certified clinical laboratories in China, AnPac Bio performs a suite of cancer screening and detection tests, including Cancer Differentiation Analysis (“CDA”), biochemical, immunological and genomics tests. According to a Frost & Sullivan 2020 report, 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 in 2019. The company has a significant cancer screening and detection database consisting of approximately 43,900 clinical samples as of March 31, 2021. AnPac Bio’s CDA technology platform has been shown in retrospective validation studies to be able to detect the risk of more than 20 different cancer types with high sensitivity and specificity. For more information about the company, visit www.AnPacBio.com
NOTE TO INVESTORS: The latest news and updates relating to ANPC are available in the company’s newsroom at https://ibn.fm/ANPC
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