- Total number of paid tests and paid cancer tests increased significantly in Q2 over Q1
- The company’s approach to multi-cancer screening is called Cancer Differentiation Analysis (“CDA”) that is powered by a database of over 200,000 samples and cases, changing the way to approach disease and cancer screenings
- The global cancer diagnostics market size is expected to reach $249.6 billion by 2026, growing at a CAGR of 7% during the forecast period
AnPac Bio-Medical Science (NASDAQ: ANPC), a biotechnology company focused on early cancer screening, detection, and cancer treatment, announced that it experienced strong growth in test volume in the first half of 2021. The total number of paid customers and testing volume increased almost 110% compared to the same period in 2020. Additionally, Q2 saw the total of paid tests and paid cancer tests increase by approximately 280% and 270%, respectively. The company has also seen growth in the new test products that it had launched in 2020 (https://ibn.fm/Josef).
AnPac is a highly innovative company and an early thought leader, developing multi-cancer screening technology, which has gained significant acceptance. The company’s approach, Cancer Differentiation Analysis (“CDA”), uses the natural biophysical properties of blood and cellular proteins to discover cancerous environments within the body before the tumors form.
The CDA is powered by a database of over 200,000 samples and cases, serving as a new way to approach disease and cancer screenings. The device uses an integrated system of sensors to detect biophysical signals at the cellular, protein, and molecular level. CDA uses a proprietary algorithm to synthesize data, generating a personalized risk assessment for evaluating patients.
“We are incredibly pleased with our strong test volume growth in the first half of 2021. We believe that our cost-effective, multi-cancer, high-performance cancer test packages are gaining increased customer and market acceptance,” AnPac CEO, Dr. Chris Yu, said while commenting on the testing volume increase. “We will work hard to continue commercialization in China and to achieve LDT approval in the U.S., allowing us to further accelerate our revenue growth.”
With the significant market opportunities, increased customer and market acceptance, and given that historically the company has seen stronger test volume in the second half of the year compared to the year prior, AnPac expects the strong growth standard to continue through the remaining part of the year.
The company has already made notable contributions to the cancer screening field. Compared to its industry peers, AnPac has 142 issued patents as of March 2021, whereas GRAIL, Inc. has 80 patents, and Thrive Earlier Detection Corp. only has 1 filed patent. As an early thought leader, the patent applications and IP for the company started in the early 2010s. By 2014, AnPac had already announced that the cancer detection product it developed was capable of screening 16 types of cancer, which was earlier than anyone else.
These achievements help position AnPac as a leading entity on the global cancer diagnostics market, an expanding market expected to reach $249.6 billion by 2026, growing at a CAGR of 7% during the forecast period. This growth can be attributed to the innovation of new products and the rising urgency for early cancer detection. The rise in cancer incidents is demanding better screening and modalities used for monitoring disease progression (https://ibn.fm/3Vylk).
Through its CDA technology, AnPac aims to tackle multiple aspects and challenges of the industry, including innovation, detection, identity, results, and biophysical properties. Through the test samples, CDA has been able to diagnose and identify pre- and early-stage cancers in patients that were previously diagnosed as cancer-free through traditional methods.
For more information, visit the company’s website at www.AnPacBio.com.
NOTE TO INVESTORS: The latest news and updates relating to ANPC are available in the company’s newsroom at https://ibn.fm/ANPC
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