AnPac Bio-Medical Science Co Ltd – ADR (NASDAQ: ANPC) closed at $4.58 on Friday at the ring of bells, up 5.77%. The average day range of this stock was $4.45 – $5.60. This biotechnology company has operations in the U.S. and China. The company soared high on receiving the first disease treatment patent for cancers on June 7 from the Patent and Trademark Office in the U.S.
About the patent
This newly accredited patent includes new medical devices aimed at both detection and treatment applications. It has 25 claims in all. The patent also has methods, and device structures for modification of biological samples meant for the treatment.
The company also additionally announced that a joint venture for cancer treatment has also secured a capital contribution of over $4 million (USD) through legal documents. The capital comes from different funding sources, which include venture capital and economic development agents. The purpose behind these capital contributions is funding fabrications of medication devices to be used in cancer treatment. Additionally, the funds will also be allocated for the purpose of laboratory tests to take place in the year.
Building a strong IP portfolio for cancer detection and screening
The company said that it has remained centered on technological innovation while also enhancing its portfolio of patent and IP, as far as cancer detection and screening is concerned. As we advance, the company aims at aggressive investment in treatment technologies, advanced cancer detection, and intellectual property associated with it. AnPac Bio-Medical Science is eyeing competitiveness in the field of cancer detection.
Chairman and CEO of the company, Dr. Chris Yu, said that the company’s core business is cancer screening and the development of new cancer treatments. The new patent enables the company is moving towards its goal. As of now, the company has 142 patents issued in all. It also has two certified China-based clinical laboratories. In the U.S., it has CAP and CLIA registered clinical laboratories.