Breaking News: Anpac Bio Announces Appointment of New Independent Director | Financial Buzz

Breaking News: Anpac Bio Announces Appointment of New Independent Director

AnPac Bio-Medical Science Co., Ltd. (NASDAQ: ANPC), a biotechnology company with operations in China and the United States, today announced that Professor Jianhua Shao has been appointed as an independent director and a member of the compensation committee, effective November 12, 2020. Professor Shao will succeed to Mr. Jiefeng Gu, who resigned as a director of the Company and as a member of the compensation committee for personal reasons effective on November 12, 2020.

Professor Jianhua Shao has served as a professor of biophysics at Shanghai University of Traditional Chinese Medicine (the “SHUTCM”) since 2012. Before that he successively served as an associate professor from 2003 to 2012 and a lecturer from 1987 to 1992 at SHUTCM. Professor Shao currently serves as the director of the Office of Mathematics and Sciences Teaching and Research at SHUTCM. He is also a member of the council of the Society of Chinese Medical Mathematics and the chief of the Committee of the Society of Chinese Biomedical Engineering (Traditional Chinese Medicine Physics and Engineering). Mr. Shao also serves as the general manager of the project department of SHUTCM Asset Management Company Limited and a director of Shanghai Mingxu Health Management Consulting Co., Ltd. He served as the general manager of Shanghai Traditional Chinese Medicine Technology Co., Ltd. from 2006 to September 2020. Professor Shao has done research and published in the field of biophysics relating to blood vessels, blood fluid dynamics, and the heart. Professor Shao received his bachelor’s degree in physics from Shanghai Normal University in 1982 and his master’s degree in science from the University of the Ryukyus in Japan in 1998.

“I welcome Professor Shao to join the board of directors. His strong academic background and deep medical knowledge will benefit the Company over the long term as we work towards the next phase of our development,” said Dr. Chris Yu, the CEO and Chairman of the board of directors of AnPac Bio. “Also, on behalf of our management team and board of directors, I would like to thank Mr. Gu for his contributions to the Company and I am grateful for all he has done for AnPac Bio during the time he served as our director.”

“AnPac Bio has been recognized in the field of early cancer screening and detection, and I’m excited to be a part of this fantastic organization. I look forward to joining the board and contributing to AnPac Bio’s future success as the Company progresses to the next phase of its strategy,” said Professor Shao, the new independent director and member of the compensation committee of AnPac Bio.

About AnPac Bio

AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 128 issued patents as of June 30, 2020. With two certified clinical laboratories in China and one 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), bio-chemical, immunological, and genomics tests. According to Frost & Sullivan, AnPac Bio ranked third worldwide and first in China 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 at May 2020. 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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