AnPac Bio-Medical Science (ANPC) Reports Record Q1 for Paid CDA-Based Cancer Testing Volume in 2021

April 16, 2021 4:16 PM EDT
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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.”

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