AnPac Bio Developed and Completed Evaluations of New Generation Cancer Detection Sensor with Improved Performance

SAN JOSE, Calif., March 09, 2021 (GLOBE NEWSWIRE) — 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, announced today that it has developed and completed evaluations at the end of February 2021 for a new generation multi-cancer detection sensor named CDA Pro Sensor (CDAPS). CDAPS is a technology breakthrough with improved performance over the previous generation cancer detection sensor in a number of areas, including detection signal stability, sensor device yield, sensor cost, and detection sensitivity and specificity. In particular, sensor cost has been reduced by ~ 137% and both cancer detection sensitivity and specificity reached over 95% in a retrospective clinical sample test. The new generation sensor (i.e. CDAPS) is capable of measuring subtle changes in bio-physical properties in a blood sample, with improvements in its design, fabrication and packaging processes, and it is expected that CDAPS will enhance the competitiveness of the Company in cancer screening.

In the field of cancer screening, obtaining stable and sufficient (high signal-to-noise ratio) detection signal with high sensitivity and specificity during early stages of cancers has been a global challenge over years. Its development and progress has been relatively slow, despite years of heavy investment and efforts by leading scientists and research groups. One of the key factors inhibiting breakthroughs in cancer detection has been the lack of leading detection experts’ (with experience in novel sensor design and fabrication, detection parameters and signal collection and processing) involvement and contributions in the field in the past. Since its foundation in 2010, AnPac Bio has utilized its team’s knowledge and experience in detection technologies, including novel sensor design, fabrication and packaging, and small signal detection and analysis in the development of a bio-physics based, multi-cancer detection technology, and has accumulated data of over 200,000 samples (from commercial CDA-based tests and CDA-based tests for research purposes).

Dr. Chris Yu, CEO and Chairman of AnPac Bio commented: “We are pleased to have developed our new generation sensor for cancer detection, which is a major milestone and breakthrough as detection is the key to obtaining early-stage cancer signals, which are typically very hard to find in the initial stages of disease. With the newly developed sensor, we can reduce our cost further and detect cancer earlier with improved signal stability, reduced signal-to-noise ratio, and potentially higher detection sensitivity and specificity. The above stated advantages will enhance our technology and market place competitive positions, and fuel further growth of our company”.

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 128 issued patents as of June 30, 2020. With two certified clinical laboratories in China and one CLIA and CAP accredited clinical laboratory 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. 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 41,700 clinical samples as of December 31, 2019. 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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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; 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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