AnPac Bio US Completes COVID-19 Antibody Test Verification and Approved to Begin Commercial Testing

SAN JOSE, Calif., Nov. 10, 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 has completed an FDA EUA- SARS-CoV-2 (COVID-19) antibody test verification in its San Jose, California lab in November 2020 for the Roche Elecsys Anti Sars-COV-2 test, and is now capable of entering into the commercial testing stage. The Company also announced that COVID-19 antibody test equipment has also completed installation in its Philadelphia lab.

Anpac Bio has been focused on developing and commercializing COVID-19 TEST products and services in both US and China. With COVID-19 cases still on the rise and no clear short-term and intermediate containment measures in sight, COVID-19 tests will likely become long-term and widely-needed viable tests. In addition, COVID-19 antibody testing will likely become increasingly valuable as one measure of the potential effectiveness of COVID-19 vaccines, and in assisting employers on ensuring office safety and productivity. Along with AnPac Bio’s vision and goal of developing and offering new test products and services, the Company is fully committed to qualifying and commercializing COVID-19 tests in both the US and China.

Verification and commercialization of COVID-19 antibody tests in the US is a major milestone for AnPac Bio, as this is the very first commercialized test in the US by the Company. In addition, the COVID-19 antibody tests will also be offered in the Company’s Philadelphia lab, where COVID-19 antibody test equipment has been installed for COVID-19 antibody tests, after meeting all proper requirements in the first half of 2021.

In addition to COVID-19 test products and services, the Company’s top priority is still commercializing cancer screening tests and a medical device, namely cancer differentiation analysis (CDA) technology, with active on-going class III CDA medical device product registration work in China and CDA test validation as a laboratory developed test (LDT) in the US.

AnPac Bio’s CEO, Dr. Chris Yu, commented, “Successful verification and commercialization of COVID-19 antibody testing in our San Jose lab is a major milestone. It signifies that AnPac Bio has entered into its commercialization and revenue generation phase in the US. Further, with the addition of our larger scale Philadelphia lab (once it is verified in the lab) planned for both COVID-19 antibody and cancer detection CDA tests (once it is approved for LDT), we will further accelerate our commercialization and revenue growth in the US.”