AnPac Bio-Medical Sciences Announces Receipt of Staff Delisting Determination from Nasdaq; Intends to Request A Hearing New York, NY

AnPac Bio-Medical Sciences Announces Receipt

of Staff Delisting Determination from Nasdaq; Intends to Request A Hearing

New York, NY, January

20, 2023 (GLOBE NEWSWIRE) -- AnPac Bio-Medical Science Co., Ltd. (the "Company") (Nasdaq:

ANPC), a biotechnology company with operations in the United States

and China focused on early cancer screening and detection announced that, on January 13, 2023, it received a Staff determination

letter (the "Letter") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying

the Company of the Staff's determination to delist the Company's securities from The Nasdaq Capital Market due to the Company's

failure to comply with the minimum $2.5 million stockholders' equity requirement for continued listing on The Nasdaq Capital Market

(the "Equity Rule"), unless the Company timely requests a hearing before a Nasdaq Hearings Panel (the "Panel").

Accordingly, the Company intends to timely request a hearing. The hearing request will automatically stay any delisting or suspension

action relating to the Company's American Depositary Shares through the hearing and the expiration of any additional extension period

granted by the Panel following the hearing.

At the hearing, the Company

intends to present a plan to achieve and sustain compliance with the Equity Rule and all applicable requirements for continued listing

and to request an extension of time within which to complete its compliance plan. However, there can be no assurance that the Panel will

grant the Company's request for a further extension or that the Company will ultimately regain compliance with all applicable requirements

for continued listing.

AnPac Bio-Medical Science Co., Ltd.

AnPac Bio-Medical Science

Co., Ltd.is a biotechnology company focused on early cancer screening and detection, with 155 issued patents as of June 30, 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

For more information,

please visit: https://www.Anpacbio.com.

For investor and media

inquiries, please contact:

Ascent Investor Relations LLC

Phone: +1-917-609-0333 (U.S.)

Email: Tina.xiao@ascent-ir.com

Safe Harbor Statement

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 any reason.