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, announced today that the Company launched a new immunology test product line in China during the week of June 15, 2020. This immunology test product line consists of multiple government-approved immunology related tests, and relies on AnPac Bio’s novel multi-level, multi-parameter scientific approach and expertise along with our proprietary algorithms.
Given the evidence of correlation between degradation in human immune system and cancer occurrence and diseases such as COVID-19, there has been increasing interest in immunology related tests and risk assessments. According to market research the immunology related tests’ market potential is estimated at $3 billion per year in China and growing at ~ 20% annually. Since the launch of AnPac Bio’s immunology test product line last week, it has already attracted a high level of interest from potential customers.
AnPac Bio’s CEO, Dr. Chris Yu, commented, “As a technology visionary and innovator in the field of early stage cancer screening, we are continually committed to developing new technologies and products related to cancer screening or that are synergistic to our technology platform. Our new immunology test product line is both related to assessment of a range of diseases, including cancer, our multi-level and multi-parameter approach.”
Dr. Chris Yu continued, “The launch of AnPac Bio’s immunology test product line is expected to significantly strengthen our product portfolio, broaden our customer base and enhance our market position. As a result, we expect that it will contribute significantly to AnPac Bio’s growth.”