AnPac Bio-Medical Science (NASDAQ: ANPC), a biotechnology company with operations in the United States and China focused on early cancer screening and detection, has entered into legally binding investment agreements with nine institutional and individual investors; the agreements outline an investment in the company of approximately $3.67 million. According to the announcement, the various shares purchase agreements outline plans for a private offering of $3.67 million earmarked to purchase 36.7 million of the company’s Class A shares; the company anticipates that the investment will be complete this month. “This equity investment is important to the company’s operations as well as research and development, including its Class III medical device clinical trial,” said AnPac Bio-Medical Science coCEO and cochair Dr. Chris Yu in the press release. “We believe the investments signal continued confidence in the long-term and fundamental prospects of our company and its technology. We are entering into the critical class III medical device clinical trial at three well-known hospitals. The successful completion of this clinical trial and obtaining a class III medical device license is very important to our efforts to commercialize our cancer-detection technology and company valuation. We believe we have a very strong innovation track record in addition to the world’s largest multicancer detection sample size.”
To view the full press release, visit https://ibn.fm/fFasR
About AnPac Bio-Medical Science Co. Ltd.
AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 155 issued patents as of March 31, 2022. 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 Cancer Differentiation Analysis (“CDA”), biochemical, immunological and genomics tests. According to a report by Frost & Sullivan, AnPac Bio ranked first globally in multicancer screening and detection-test sample volume, accumulative to January 2021. AnPac Bio’s CDA technology platform has been shown in retrospective validation studies 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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