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June 19, 2020

AnPac Bio-Medical Science Co., Ltd., a biotechnology company with operations in China and the United States focused on early cancer screening and detection, announced today that it has entered into a record, three-year strategic cancer screening collaboration contract with Beijing Yuan Jian Health Management Co., Ltd. in China, which has been a client of the Company for the past two years.

AnPac Bio-Medical notes this contract contains a minimum of 76,000 paid cancer screening tests, including at least 6,000 paid tests in 2020, 25,000 paid tests in 2021, and 45,000 paid tests in 2022. The total value of the contract is slightly over US$3 million and exceeds the previous contract by more than double the number of paid tests per year.

AnPac Bio’s CEO, Dr. Chris Yu, remarked, “Our novel cancer screening technology and tests are receiving increasing acceptance from the healthcare market. Due to our CDA tests’ outstanding performance and competitive costs, we expect to see significant continued market opportunities and growth potential in China.”

Dr. Chris Yu continued, “Our ability to continue receiving multi-year sales contracts demonstrates that our novel technology, quality and service have long sustainability with customers in the market place. At the same time, we are pushing ahead with our commercialization plan of CDA cancer screening tests in the US, with on-going commercialization efforts at our San Jose lab and opening of our second lab at Philadelphia.”

 

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