PHILADELPHIA, Oct. 03, 2022 (GLOBE NEWSWIRE) — AnPac Bio-Medical Science Co., Ltd. (Nasdaq: ANPC) (“AnPac Bio” or the “Company”), a biotechnology company operating in the United States and China, focused on cancer screening and early detection, today announced changes the composition of its board of directors and its management team.
Mr. Haohan Xu was appointed as a Director of the Board of Directors (the “Board”), Co-Chairman of the Board and Co-Chief Executive Officer of the Company. Mr. Xu is the Chairman and CEO of Apifiny Group Inc., a digital asset trading infrastructure provider based in New York, USA, and has been actively engaged in the fintech industry. with board and senior executive positions held at fintech companies including Mercurity Fintech. Holding Inc. (Nasdaq: MFH).
Ms. Xiaoyu Li has been appointed director of the board of directors and chief financial officer of the Company. Ms. Li has extensive experience in investor relations and investment. From May 2018 to August 2021, Ms. Li served as a director of Mercurity Fintech Holding Inc. (Nasdaq: MFH), where Ms. Li previously worked in the investor relations department from 2012 to 2013.
Mr. Tianruo (Robert) Pu was appointed Director of the Board, Chairman of the Audit Committee and member of the Compensation Committee as well as the Nominating and Corporate Governance Committee. Mr. Pu is currently an independent director of Autohome Inc. (NYSE: ATHM; HKSE: 2518), One Connect Financial Technology (NYSE: OCFT) and 3SBio Inc. (HKSE: 1530).
Mr. Zhigang (Frank) Zhao was appointed as a Director of the Board, Chairman of the Compensation Committee and a member of the Audit Committee and the Nominating and Corporate Governance Committee. Mr. Zhao has more than two decades of financial and accounting management experience with auditing firms and public enterprises.
Mr. Honggang (Harvey) Tian was appointed director of the board, chairman of the nominating and corporate governance committee and member of the audit committee as well as the remuneration committee. Mr. Tian is an experienced investment professional specializing in the Internet and high-tech industries.
With respect to the above appointments, each of Mr. Chris Chang Yu, Jinqiu Tang, Xing Pu, Ren Luo, Jianhua Shao and Guo Feng will resign as directors and/or officers of the Company. These changes are expected to take effect in early October following completion of the usual onboarding processes, including required filings with the British Virgin Islands Register of Corporate Affairs.
Under the new structure, Dr. Chris Chang Yu will continue to manage the development of the company’s cancer screening technology and grow its business.
“We are delighted to welcome Mr. Haohan Xu, Ms. Xiaoyu Li, Mr. Tianruo Pu, Mr. Zhigang Zhao and Mr. Honggang Tian to the board and management team,” said Dr. Chris Yu, Board Co-Chair. and Co-Chief Executive Officer of the Company. “We believe their experience and expertise will bring significant value to AnPac Bio as we continue to explore growth opportunities in our early cancer screening and detection business and explore strategic alternatives to unlock further value. for shareholders. On behalf of the Board, I would also like to express my sincere gratitude to the outgoing Directors for their incredible contribution to the Company during their tenure on the Board and wish them well for the future.
About AnPac Bio
AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 155 patents granted as of March 31, 2022. With two certified clinical laboratories in China and a 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), biochemical, immunological and genomic tests. According to a report by Frost & Sullivan, AnPac Bio ranked first in the world in terms of sample volume for screening tests and detection of multiple cancers (cumulative through 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.
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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. of 1995 and relate to the future financial and operating performance of the Company. The Company has attempted to identify forward-looking statements by terminologies such as “believes”, “estimates”, “anticipates”, “expects”, “plans”, “projects”, “intends”, “potential”, “target”, “aim”, “predict”, “outlook”, “seek”, “goal”, “objective”, “assume”, “consider”, “continue”, “positioned”, “plan” , “probable”, “may”, “could”, “could”, “will”, “should”, “approximately” or other words that convey uncertainty of future events or results to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments regarding, 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 control of the Company. These statements also involve known risks and unknowns, uncertainties and other factors that may cause the Company’s actual results to differ materially from those expressed or implied by any forward-looking statements. Known and unknown risks, uncertainties and other factors include, but are not limited to, our ability to comply with Nasdaq listing rules, implementation of our business model and growth strategies; trends and competition in the cancer screening and detection market; our expectations regarding market demand and 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 technological developments; our ability to obtain and maintain regulatory approvals from the NMPA, FDA and relevant US states and to have our laboratories certified or accredited by authorities such as CLIA; our future business development, financial condition and results of operations and our ability to obtain financing on a cost-effective basis; potential changes in governmental regulations; general economic and business conditions in China and elsewhere; our ability to hire and retain key personnel; our relationships with our major business partners and customers; and the duration of the coronavirus outbreaks and their potential adverse impact on economic and financial market conditions and our business and financial performance, as resulting from reduced business activities due to quarantines and travel restrictions instituted by China, the United States and many other countries around the world to contain the spread of the virus. In addition, 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. United. Due to these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. Further, such statements speak only as of the date of this press release and, except as required by law, the Company undertakes no obligation to publicly revise or update any forward-looking statements for any reason. it would be.
