Benzinga | Jun 18, 2021 06:31AM EDT

AnPac Bio-Medical Science Reports Patent Grant For Novel Device Structures, Methods To Modify Biological Samples For Treatment Purposes

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 as well as cancer treatment, announced today that it has been granted its first disease treatment patent by the United States Patent and Trademark Office on June 7, 2021. The patent covers novel medical devices for both disease detection and treatment applications and has 25 claims. This patent covers novel device structures and methods to modify biological samples for treatment purposes. This latest patent is the twenty first patent granted to AnPac Bio in the United States.

The Company also announced that its newly launched cancer treatment joint venture has secured, via signed legal documents, over four million US dollars of capital contributions from multiple funding sources (including economic development agents and venture capital), which will fund fabrications of cancer treatment medical devices and the device's subsequent laboratory tests this year. Please refer to the Company's press release on May 25, 2021 for more information on the newly launched cancer treatment venture.

"We are pleased that AnPac Bio has been granted our first disease treatment patent, whose disease treatment related claims will be licensed to our new cancer treatment joint venture (while future disease treatment only patent applications will be transferred to the cancer treatment joint venture). We are also pleased that our cancer treatment joint venture has secured funding to speed up its cancer treatment developments. Our core business of cancer detection and this new cancer treatment venture are expected to have significant synergies in terms of technology, market, business and customer," said Dr. Chris Yu, Chairman and CEO of AnPac Bio. "AnPac Bio has always focused on technological innovation and building a strong patent and IP portfolio in cancer screening and detection. We will continue to invest aggressively in advanced cancer detection and treatment technologies and related intellectual property, and maintain our competitiveness in cancer detection."

Dr. Chris Yu continued, "AnPac Bio will continue to focus on its core business cancer screening while supporting the development of the new cancer treatment joint venture."