Full Press Release Details
AnPac Bio Announces Appointment of New Independent
Independent Director has Strong Track Record
at US Fortune 500 Companies
Philadelphia, Pennsylvania, July 23, 2021 -
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, today announced that Mr. Chao Feng, who previously worked for two US Fortune 500
Companies in China, has been appointed as an independent director effective July 19, 2021. Mr. Chao Feng will succeed to Ms. Lin Yu, who
resigned as a director of the Company for personal reasons, effective on July 19, 2021.
Mr. Chao Feng has served as the general manager
of Shanghai Zhiruihaochen Information Technology Co., Ltd since 2019, the chairman of the strategy committee of Guangzhou Chengding Robots
Co., Ltd since 2016 and the chairman of the strategy committee of Shanghai Leiyi Internet Technology Co., Ltd since 2018. Mr. Feng also
served as key account project director at Hewlett Packard Enterprise Company ("HP") China from 2010 to 2012 and data discovery
sales manager at Oracle China from 2012 to 2015. Mr. Feng received his bachelor's degree from Xidian University's School of
Computer Science and Technology, and his MBA degree from East China University of Science and Technology in 2016.
"I welcome Mr. Chao Feng in joining our
board of directors. His strong academic background and business management experience, particularly in strategic planning, capital market
transactions and sales, will benefit our Company in our pursuit of long-term growth," said Dr. Chris Yu, the CEO and Chairman of
the board of directors for AnPac Bio. "Also, on behalf of our management team and board of directors, I would like to thank Ms.
Lin Yu for her contributions to the Company."
"AnPac Bio has been recognized in the field
of early cancer screening and detection, and I'm excited to be a part of the team. I look forward to contributing to AnPac Bio's future
success as a member of its Board and helping the Company in its further development," said Mr. Chao Feng, the new independent director
AnPac Bio is a biotechnology company focused on early cancer screening
and detection, with 142 issued patents as of March 31, 2021. With two certified clinical laboratories in China and one CLIA registered
clinical laboratory in the United States, AnPac Bio performs a suite of cancer screening and detection tests, including CDA (Cancer Differentiation
Analysis), bio-chemical, immunological, and genomics tests. According to Frost & Sullivan, AnPac Bio ranked third worldwide among
companies offering next-generation early cancer screening and detection technologies in terms of the number of clinical samples for cancer
screening and detection, based on approximately 41,700 clinical samples as of December 31, 2019. AnPac Bio's CDA technology platform
has been shown in retrospective validation studies to be able to detect the risk of over 20 different cancer types with high sensitivity
For more information, please visit: https://www.Anpacbio.com.
For investor and media inquiries, please contact:
Phil Case, Marketing and Investor Relations
Phone: +1-267-810-6776 (US)
Email: phil_case@AnPacbio.com
Ascent Investor Relations LLC
Tina Xiao, President
Phone: +1-917-609-0333 (US)
Email: tina.xiao@ascent-ir.com
Safe Harbor Statement
This announcement contains forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
These forward-looking statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995 and are relating to the Company's future financial and operating performance. The Company has attempted to
identify forward-looking statements by terminologies including "believes," "estimates,"
"anticipates," "expects," "plans," "projects," "intends,"
"potential," "target," "aim," "predict," "outlook," "seek,"
"goal" "objective," "assume," "contemplate," "continue,"
"positioned," "forecast," "likely," "may," "could," "might,"
"will," "should," "approximately" or other words that convey uncertainty of future events or
outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and
uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business
decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control.
These statements also involve known and unknown risks, uncertainties and other factors that may cause the Company's actual
results to be materially different from those expressed or implied by any forward-looking statement. Known and unknown risks,
uncertainties and other factors include, but are not limited to, the implementation of our business model and growth strategies;
trends and competition in the cancer screening and detection market; our expectations regarding demand for and market acceptance of
our cancer screening and detection tests and our ability to expand our customer base; our ability to obtain and maintain
intellectual property protections for our CDA technology and our continued research and development to keep pace with technology
developments; our ability to obtain and maintain regulatory approvals from the NMPA, the FDA and the relevant U.S. states and have
our laboratories certified or accredited by authorities including the CLIA; our future business development, financial condition and
results of operations and our ability to obtain financing cost-effectively; potential changes of government regulations; general
economic and business conditions in China and elsewhere; our ability to hire and maintain key personnel; our relationship with our
major business partners and customers; and the duration of the coronavirus outbreaks and their potential adverse impact on the
economic conditions and financial markets and our business and financial performance, such as resulting from reduced commercial
activities due to quarantines and travel restrictions instituted by China, the U.S. and many other countries around the world to
contain the spread of the virus. Additionally, all forward-looking statements are subject to the "Risk Factors" detailed
from time to time in the Company's most recent Annual Report on Form 20-F and other filings with the U.S. Securities and
Exchange Commission. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these
forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be
required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any