- The stock price of AnPac Bio-Medical Science Co Ltd (NASDAQ: ANPC) increased by over 6% pre-market. This is why it happened.
The stock price of AnPac Bio-Medical Science Co Ltd (NASDAQ: ANPC) – a biotechnology company with operations in China and the United States focused on early cancer screening and detection – increased by over 6% pre-market. Investors are responding positively to the company announcing that on May 17, 2021, its board of directors approved the company to establish a joint venture together with its founder and chairman Dr. Chris Chang Yu and certain other individuals to develop a new cancer treatment technology and associated products.
AnPac Bio is going to contribute two filed patent applications in the space of cancer treatment to the Joint Venture, and shareholding percentages of AnPac Bio and other shareholders in the Joint Venture will be determined based on the value of the patent applications assessed by an independent appraisal firm as well as other commercial factors.
The new cancer treatment technology to be developed by the joint venture is expected to be based on AnPac Bio’s important findings in the past 10 years of extensive early-stage cancer detection work involving over 222,200 samples (including commercial CDA-based tests and CDA-based tests for research purpose) as well as based on correlations between changes in biophysical properties in the micro-environment (such as blood) and cancer occurrence observed by multiple research groups including AnPac Bio.
This novel technology is expected to utilize key treatment modules fabricated by integrated circuit (IC) technology in connection with certain reagents to target biophysical properties exhibiting abnormal ranges within pre-cancer and cancer populations. And the aim of the technology is to prevent disease progression for both pre-cancer and cancer patients. Laboratory tests on this technology are expected to begin in the third quarter of 2021. Additionally, a class III medical device registration application to Chinese National Medical Products Administration (NMPA) is planned for Q3, 2022.
KEY QUOTE:
“We are very pleased to have launched this very meaningful and important project with a lot of momentum. This cancer treatment technology is novel, and this investment gives AnPac Bio significant advantages in terms of technology extendibility, cost control, customer sharing and business synergy.”
— Dr. Chris Yu, Chairman and CEO of AnPac Bio
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
