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AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) has launched a new immunology test product line in China, aimed at early cancer screening and detection. This line includes multiple government-approved tests and leverages proprietary algorithms and scientific approaches. The immunology test market in China is projected to reach $3 billion annually, growing at approximately 20%. CEO Dr. Chris Yu stated that the new product line will bolster the company's portfolio, expand its customer base, and contribute significantly to growth.
AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) has signed a groundbreaking three-year collaboration with Beijing Yuan Jian Health Management Co., Ltd. for cancer screening. This contract includes a minimum of 76,000 paid tests valued at over $3 million, significantly surpassing previous agreements. CEO Dr. Chris Yu highlighted the growing acceptance of their innovative cancer screening technology in the healthcare market, emphasizing prospects for ongoing growth and sustainability. The company is also advancing its commercialization efforts in the U.S. with plans for a new lab in Philadelphia.
AnPac Bio has secured a record three-year strategic cancer screening collaboration contract with Beijing Yuan Jian Health Management, amounting to over $3 million. This agreement includes a minimum of 76,000 paid cancer tests, significantly increasing from their previous contract. AnPac Bio's CEO, Dr. Chris Yu, noted the growing acceptance of their cancer screening technology in the healthcare market. The company is also advancing its commercialization efforts in the U.S. with new lab openings and aims to expand its customer base.
AnPac Bio-Medical Science Co. has appointed Mr. Jinqiu (Edwards) Tang as its new Chief Financial Officer, effective June 1, 2020, succeeding Ms. Yu (Rain) Zhang, who resigned for personal reasons. Tang, who previously served as Corporate Controller, brings substantial financial expertise from previous roles, including a global internal auditor at Natuzzi S.p.A. AnPac Bio focuses on early cancer screening and detection and holds 121 granted patents as of December 31, 2019. The company has been recognized for its CDA technology, which can detect over 20 cancer types with high sensitivity.
AnPac Bio-Medical Science Co., Ltd. (Nasdaq: ANPC) reported continued annual revenue growth in its 2019 results. The company saw a 5.8% increase in total revenues, reaching RMB10.8 million (US$1.6 million), driven by a 26.0% rise in commercial CDA-based tests. Despite growth, the operating loss widened to RMB89.1 million (US$12.8 million), and net loss reached RMB101.6 million (US$14.6 million). The impact of COVID-19 poses challenges, including potential revenue declines in 2020 and delays in test commercialization. The company is optimistic about future growth, focusing on enhancing R&D capabilities.
AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) filed its annual report on Form 20-F for the fiscal year ended December 31, 2019, with the SEC on May 15, 2020. The report includes audited consolidated financial statements. AnPac Bio specializes in early cancer screening, holding 121 issued patents as of year-end 2019. The firm ranks second globally in next-generation cancer screening technologies based on approximately 35,000 clinical samples as of June 30, 2019. Its CDA technology detects risk for over 20 cancer types with high sensitivity and specificity.
AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC) announced that the United States Patent and Trademark Office granted a new US patent for a novel medical device designed for multi-cancer screening. The patent allows for improved detection performance and validates the company's commitment to innovation in cancer diagnostics. AnPac Bio has recently expanded its capabilities in the U.S., with a second laboratory set to open in Philadelphia. This expansion is aimed at enhancing their market presence and solidifying business ties in the U.S. cancer detection market.
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