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PHILADELPHIA, Aug. 17, 2021 (GLOBE NEWSWIRE) — via InvestorWire — 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, today announces that it has hired Dr. Sunil Pandit, a successful life sciences veteran and highly accomplished bio-medical scientist, as its U.S. CEO, effective Aug. 16, 2021. In his new role, Dr. Pandit will lead AnPac Bio’s U.S. R&D and commercialization efforts to drive adoption and growth of AnPac’s Cancer Differentiation Analysis (CDA) technology, the company’s core product for cancer screening and early detection.
Dr. Pandit is a highly successful scientific and technical leader with 25+ years of experience in leading precision medicine strategies, molecular and companion diagnostic approaches and technologies in the pharmaceutical and diagnostics industries. He has successfully managed complex projects and has a strong track record in delivering in-vitro diagnostic (IVD) products under design control to the marketplace. Dr. Pandit has extensive experience in developing clinical biomarker diagnostic assays in oncology and infectious diseases, as Laboratory Developed Tests (LDTs) under CLIA (Clinical Laboratory Improvement Amendments), as well as driving partnerships with Contract Research Organizations, academia and the pharmaceutical industry.
Additionally, Dr. Pandit is a licensed CLIA laboratory director and will continue to serve as AnPac Bio’s laboratory director for its CLIA certified laboratory in Springhouse, Pennsylvania. Previously, Dr. Pandit held positions of increasing responsibility at major diagnostics and pharmaceutical companies including Janssen Diagnostics, Siemens Healthcare Diagnostics, National Institutes of Health (NIH) and GlaxoSmithKline. He has seven granted patents and has won several awards and honors throughout his career. Dr. Pandit received his doctoral degree in biochemistry and molecular biology from the Stony Brook University at Stony Brook, New York.
“I warmly welcome Dr. Pandit to our management team. His academic background, extensive life science work experience, including diagnostic product development, strong program management and commercialization experience at multiple global leading companies will greatly benefit AnPac Bio in our pursuit of U.S. growth and commercialization of CDA technology,” said Dr. Chris Yu, the Chairman of the board of directors of AnPac Bio.
Of this announcement, Dr. Pandit commented, “AnPac Bio has been recognized for its innovation and leadership in the field of early cancer screening and detection. I'm very excited to be a part of the team. I look forward to leading the U.S. team in commercializing AnPac Bio’s novel cancer screening products, including CDA technology, in the United States. I am confident that given AnPac Bio’s strong innovation and superiority of its novel cancer screening products, we will win customers and market share and become a top tier cancer screening and early detection company in the U.S. in the future.”
About AnPac Bio
AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 142 issued patents as of March 31, 2021. With two certified clinical laboratories in China and one CLIA registered 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 Frost & Sullivan, AnPac Bio ranked third worldwide among companies offering next-generation early cancer screening and detection technologies in terms of the number of clinical samples for cancer screening and detection, based on approximately 41,700 clinical samples as of Dec. 31, 2019. 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 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, 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.