Sub-Industry: Cancer Screening and Detection
AnPac Bio-Medical Science Co. Ltd. is a biotechnology company focusing on early cancer screening and detection. It develops and sells a multi-cancer screening and detection test that uses its patented cancer differentiation analysis (CDA) and cancer-detection device.
In addition to early cancer screening and detection, AnPac’s CDA technology has demonstrated potential to assist physicians in cancer diagnosis, prognosis and recurrence.
AnPac said in its prospectus filed with the U.S. Securities and Exchange Commission that it was one of the first in the world to develop technology that uses the biophysical properties of blood for the detection and measurement of cancers, citing research by independent market analyst Frost & Sullivan.
As of September 2019, AnPac said its technology detected the risks of 26 types of cancers, which accounted for more than 80% of cancers in China, with high accuracy. To carry out a test, the company said it only requires "a standard blood sample" from an individual.
The company said that, as of September 2019, its test database consisted of more than 140,000 blood samples and 35,000 clinical samples of various age, sex and disease groups. According to Frost & Sullivan, AnPac ranked first in China and second worldwide among companies offering early cancer screening and detection technologies in terms of the number of clinical samples for cancer screening and detection.
In addition, AnPac ranked first in terms of volume of commercial cancer screening and detection tests conducted in China and fifth in terms of revenue from commercial cancer screening and detection tests in 2018, according to Frost & Sullivan.
AnPac said it has been performing commercial CDA-based tests in China since 2015 and expects to commercialize its technology in the U.S. in 2020. The company had 121 patents as of September, and more than 100 patents pending in China and globally.
For the nine months through September, AnPac reported revenue of $1.1 million, up 22% year-over-year, on losses of $8.3 million. In 2018, the company made $1.4 million in revenue and had $5.9 million in losses. It had $3.4 million in cash and cash equivalents as of September 30.