Benzinga | May 25, 2021 06:34AM EDT

AnPac Bio-Medical Announces Novel Cancer Treatment Technology And Product Joint Venture

AnPac Bio-Medical Science Co., Ltd. (ANPC) ("AnPac Bio," the "Company" or "we"), a biotechnology company with operations in China and the United States focused on early cancer screening and detection, announced today that on May 17, 2021, its board of directors approved the Company to establish a joint venture (the "Joint Venture") together with its founder and chairman, Dr. Chris Chang Yu, and certain other individuals to develop a new cancer treatment technology and associated products. AnPac Bio will contribute two filed patent applications in the space of cancer treatment to the Joint Venture, and shareholding percentages of AnPac Bio and other shareholders in the Joint Venture will be determined based on the value of the patent applications assessed by an independent appraisal firm, as well as other commercial factors.



The new cancer treatment technology to be developed by the Joint Venture is expected to be based on AnPac Bio's important findings in the past 10 years of extensive early-stage cancer detection work involving over 222,200 samples (including commercial CDA-based tests and CDA-based tests for research purpose), as well as based on correlations between changes in biophysical properties in the micro-environment (such as blood) and cancer occurrence observed by multiple research groups including AnPac Bio. This novel technology is expected to utilize key treatment modules fabricated by integrated circuit (IC) technology in conjunction with certain reagents, to target biophysical properties exhibiting abnormal ranges within pre-cancer and cancer populations. The aim of the technology is to prevent disease progression for both pre-cancer and cancer patients. Laboratory tests on this technology are expected to begin in the third quarter of 2021. Additionally, a class III medical device registration application to Chinese National Medical Products Administration (NMPA) is planned for Q3, 2022.

Dr. Chris Yu, Chairman and CEO of AnPac Bio commented: "We are very pleased to have launched this very meaningful and important project with a lot of momentum. This cancer treatment technology is novel, and this investment gives AnPac Bio significant advantages in terms of technology extendibility, cost control, customer sharing and business synergy."