AnPac Bio Announces Appointment of New Chief Financial Officer

SAN JOSE, Calif., June 02, 2020 (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 focused on early cancer screening and detection, today announced the appointment of Mr. Jinqiu (Edwards) Tang as the Chief Financial Officer of the Company, effective June 1, 2020. Mr. Tang will succeed to Ms. Yu (Rain) Zhang, who resigned as the Chief Financial Officer of the Company for personal reasons effective on May 31, 2020.

Mr. Jinqiu (Edwards) Tang has served as AnPac Bio’s Corporate Controller since October 2019. Prior to joining AnPac Bio, Mr. Tang served as a global internal auditor at Natuzzi S.p.A (Italy) from 2016 to 2019. Previously, he worked for Beijing Dongshen CPAs from 2013 to 2016 and Shanghai De’an CPAs from 2011 to 2013, where he provided external audit, finance and tax advisory services across different industries and sectors. He has been a Certified Public Accountant in Australia since 2019. Mr. Tang received his bachelor’s degree in accounting from Charles Sturt University in Australia in 2007; MBA from Charles Sturt University in Australia in 2009; and his bachelor’s degree in law from Southwest University of Science and Technology in China in 2017.

“I am excited to welcome Edwards to join the management team. His strong financial background will help him to make an immediate impact at AnPac Bio,” said Dr. Chris Yu, the CEO and Chairman of the board of directors of AnPac Bio. “Also, on behalf of our management team and board of directors, I would like to thank Rain for her contributions. I am grateful for all she has done for AnPac Bio during the time she served as our CFO.”

“AnPac Bio has been recognized in the field of early cancer screening and detection, and I'm delighted to be a part of this fantastic organization. I look forward to joining the management team and contributing to AnPac Bio's future success as the Company progresses to the next phase of its strategy,” said Mr. Tang, the new CFO of AnPac Bio.

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 121 granted patents as of December 31, 2019. 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. In a recent market research report by Frost & Sullivan, AnPac Bio ranked second 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 35,000 clinical samples as at June 30, 2019. AnPac Bio’s CDA technology 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.