AnPac Bio Announces Positive Results from its Multi-Year and Multi-Cancer Test Follow-Up Study

NEW YORK, Feb. 22, 2023 /PRNewswire/ — AnPac Bio-Medical Science Co., Ltd. (“AnPac Bio,” the “Company” or “we”) (ANPC), a company with operations in the United States and China focused on early cancer screening and detection and plans to enter into the operation of a business-to-business e-commerce food platform focused on the sale of Asian sourced food products, announced up-dated positive results from its first major multi-year and multi-cancer test follow-up study.  To date, the study has enrolled over 18,000 individuals from a general population of 230,000 persons located in China.  The test subjects were tested using AnPac Bio’s Cancer Differentiation Analysis (CDA) method.  We believe that the study is one of the largest multi-year and multi-cancer follow-up studies in the world. The multi-year study fully validated that CDA method is a multi-cancer detection method which is capable of detecting multiple cancer types with statistical significance.  We believe that the CDA method may become a cost effective, multi-cancer screening method.      

As announced previously, the study has enrolled individuals who were first tested using the CDA method.  Based on the CDA test results, individuals were classified into high risk, medium risk and low risk groups, and individuals from all three groups were enrolled in the study. In the study, medium cancer risk group accounted for the greater number of enrolled individuals while high cancer risk group has the fewest number of enrolled individuals.  During the study, the enrolled individuals were contacted regularly and their health status were recorded. 

Health institutions including hospitals have reported that 2,837 individuals within the study were identified as cancer, pre-cancer and disease patients.  The confirmed cancer cases contained 22 types of cancer, with the top five confirmed cancer types being colorectal cancer, lung cancer, stomach cancer, prostatic cancer and breast cancer. The study also identified patients with esophageal cancer which does not have a bio-marker. The confirmed cases also include 27 types of pre-cancer.  Statistical analysis showed that there is also a strong correlation between CDA test score and cancer occurrence, with the higher the CDA value, the higher the cancer risk.  If the enrolled individuals are normalized to the sample size in which all three enrolled groups have the same amount of individuals, the confirmed cancer cases would be distributed as: 91.7% in the high risk group, 7.5% in the medium cancer risk group, and only 0.8% in the low risk group.  The above data on confirmed cancer case distribution as a function of CDA score based cancer risk ranking (high cancer risk, medium cancer risk and low cancer risk) indicate that CDA technology is effective in finding and predicting the cancer occurrence.

About AnPac Bio

AnPac Bio-Medical Science Co., Ltd. is a biotechnology company focused on early cancer screening and detection, with 155 issued patents as of June 30, 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 CDA (Cancer Differentiation Analysis), bio-chemical, immunological, and genomics tests. The Company intends to enter the business-to-business e-commerce food business with the formation of its wholly-owned subsidiary Fresh2 Technology Inc and the acquisition of Fresh2 Ecommerce Inc.

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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, our ability to comply with Nasdaq Listing Rules, 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.