Benzinga | Oct 1, 2020 07:37AM EDT

AnPac Bio Announces Equity Investment From Keystone Capital Partners For Up To $7M

SAN JOSE, Calif., Oct. 01, 2020 (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, announced today that the Company has entered into an agreement with Keystone Capital Partners ("Keystone") for a preferred stock investment of US$7.0 Million. Additional details on the transaction are outlined in the accompanying Registration Statement filed on September 30, 2020 (File No. 333249170).



The investment provides AnPac Bio with additional access to growth capital to expand its operations in China and continue to commercialize in the United States. Additionally, the Company intends to use the funding proceeds to advance its CDA (Cancer Differentiation Analysis) technology to provide cost-effective early-detection cancer screening and testing.

The information contained in this press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares of our preferred stock discussed herein, nor shall there be any offer, solicitation, or sale of the shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A registration statement relating to these securities has been filed with the U.S. Securities Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.