AnPac Bio’s Investee Company in China Received COVID-19 Nucleic Acid Test Certification and Began Volume Tests and Collaborations with AnPac Bio

SAN JOSE, Calif., Nov. 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 announced today that the Company’s investee company in China, Jiangsu AnPac Health Management Co., Ltd. (“Jiangsu AnPac”) (in which Jiangsu AnPac and AnPac Bio are a Joint Venture with the Company owning 15% equity interest), qualified for COVID-19 nucleic acid tests in the first half of 2020 and received certification from the regulatory authority on October 17, 2020 for COVID-19 nucleic acid tests in Jiangsu AnPac’s medical lab in the City of WuXi, Jiangsu Province, China.  Jiangsu AnPac has begun to receive samples for paid COVID-19 nucleic acid tests.  Recently, AnPac Bio and Jiangsu AnPac have signed an agreement to develop and qualify new COVID-19 test technologies and products, and carry out evaluations at Jiangsu AnPac’s medical lab. 

With global COVID-19 cases still rising and its possibility of reoccurrence, COVID-19 tests will likely become widely needed, long term critical tests.  

In addition to novel cancer screening technology, products and services, AnPac Bio also has and active COVID-19 test products, services and commercialization program in both US and China including a key patent application filed this year, with Company’s San Jose lab commercializing a COVID-19 antibody test in this quarter, and on-going active COVID-19 test development and evaluation program at COVID-19 nucleic acid test certified Jiangsu AnPac medical lab.

AnPac Bio’s CEO, Dr. Chris Yu, commented, “In addition to a successful launch of our immunology test product in the first half year, the qualification and commercialization of COVID-19 tests is another major achievement for AnPac Bio this year.  With the addition of above mentioned new products and services, and our novel, biophysics based cancer differentiation analysis (CDA) cancer screening tests, AnPac Bio is poised to offer our customers and market a much broader set of products and services and will contribute to our revenue growth significantly in the next few years”.