Full Press Release Details
Bio Announces Changes to the Board of Directors
PA, November 10, 2022 - AnPac Bio-Medical Science Co., Ltd.
(Nasdaq: ANPC) ("AnPac Bio" or the "Company"), a biotechnology company with operations in the United States and
China focused on early cancer screening and detection, today announced the resignation of Yuyang Cui as (i) the Co-Chair of the board
of directors (the "Board"), and (ii) the Co-Chief Executive Officer, effective from November 7, 2022, and the resignation
of Jiawen Kang from the position of (i) a director of the Board, (ii) a member of the audit committee, and (iii) a member of the nominating
and corporate governance committee, effective from November 4, 2022.
Mr. Haohan Xu, the Co-Chairperson and Co-Chief Executive Officer
of the Company, said, "On behalf of the Board of Directors and management team, I would like to express our sincere gratitude to them
for all their contributions to the Company."
is a biotechnology company focused on early cancer screening and detection, with 155 issued patents as of March 31, 2022. With two certified
clinical laboratories in China and one CLIA and CAP accredited 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 a report by Frost & Sullivan, AnPac Bio ranked first globally in multi-cancer screening and detection test sample volume
(accumulative to January 2021). 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 and specificity.
For investor and media inquiries, please contact:
Phil Case, Marketing and Investor Relations
Phone: +1-267-810-6776 (US)
Email: phil_case@AnPacbio.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, our ability to comply with Nasdaq Listing Rules, 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