AnPac Bio Reports Record Q1 for Paid CDA-Based Cancer Testing Volume in 2021, Increasing Approximately 130% Compared to Q1, 2020
SAN JOSE, Calif., April 16, 2021 (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, announced today that it experienced strong demand for its paid tests based on the cancer differentiation analysis technology (CDA) technology, or paid CDA-based tests, in the first quarter of 2021, setting a record high Q1 test volume. CDA-based tests, which are multi-cancer tests based on a novel biophysical approach, are the Company’s flagship product line and reached 5,439 paid cancer tests in Q1, an approximately 130% increase over the same period last year. While AnPac Bio offers multiple test products including various cancer screening tests, immunology tests and annual physical checkups, paid CDA-based tests had the highest test volume among all these tests in Q1, 2021.
While the first 3 months of the year is traditionally a downtime due to seasonality and the Chinese New Year, the Company still experienced strong demand for its commercial CDA-based tests in Q1 2021. This increase in paid CDA-based test volume was also due to the Company being negatively impacted by COVID-19 in Q1 2020.
Dr. Chris Yu commented, “We are very pleased with achieving the increase in Q1 paid CDA-based testing volume, which is a strong indication that AnPac Bio’s technology, services and quality are being recognized by the market. Multi-cancer screening testing is now regarded as an important aspect and breakthrough in the fight again cancer as it offers a more cost effective and efficient way to screen cancer in large populations. With our multi-cancer screening based CDA technology gaining market acceptance, we believe that we are well-positioned to capture the significant growth in the cancer screening market in China. We are also working hard to commercialize our cancer test technology in the US via Laboratory Developed Tests (LDT). We are fully committed to innovating and developing new products and technologies and closely working with customers to achieve continued growth.”
About AnPac Bio
AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 142 issued patents as of March 31, 2021. 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 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.
For more information, please visit: https://www.Anpacbio.com.
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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.