Benzinga | May 25, 2021 08:15AM EDT

AnPac Bio Shares Jump on Cancer Treatment Technology Related Joint Venture

* AnPac Bio-Medical Science Co Ltd (NASDAQ: ANPC) will establish a joint venture with its founder and chairman, Dr. Chris Chang Yu, and certain other individuals to develop a new cancer treatment technology and associated products.

* The company will contribute two filed patent applications in the space of cancer treatment to the Joint Venture.

* Shareholding percentages of AnPac Bio and other shareholders in the Joint Venture will be determined based on the value of the patent applications and other commercial factors.

* The technology will utilize findings from early-stage cancer detection work involving a database of over 222,200 samples.

* The treatment modules will be fabricated by integrated circuit technology in conjunction with certain reagents to target biophysical properties exhibiting abnormal ranges within pre-cancer and cancer populations.

* The technology aims to prevent disease progression for both pre-cancer and cancer patients.

* Laboratory tests on the technology are expected to begin in the third quarter of 2021.

* Additionally, a class III medical device registration application to the Chinese National Medical Products Administration is planned for Q3 of 2022.

* Price Action: ANPC shares are +26.3% at $5.91 during the premarket session on the last check Tuesday.