US$5 Million Private Placement Plan

AnPac Bio-Medical Science Co., Ltd. (Nasdaq: ANPC), a biotechnology company specializing in early cancer screening and detection, has announced that it has reached an agreement with nine investors. The investors will participate in a private placement and purchase a total of 28,571,428 newly issued Class A ordinary shares at a price of US$3.5 per ADS, with an exercise price of US$0.175 per ordinary share (1:20 ADS-to-share ratio), for a total purchase price of $5 million. The closing of the transaction is expected to occur within three months.

As part of the agreement, the investors will also receive two unregistered warrants for each Class A ordinary share purchased, resulting in a total of 57,142,856 warrants. These warrants can be exercised within two years from the date of issuance and have an exercise price of US$4.2.

AnPac Bio is a leading biotechnology company focused on early cancer screening and detection. With 155 issued patents as of March 31, 2022, the company operates two certified clinical laboratories in China and one CLIA and CAP accredited clinical laboratory in the United States. AnPac Bio offers a range of cancer screening and detection tests, including CDA (Cancer Differentiation Analysis), bio-chemical, immunological, and genomics tests. The company has been recognized globally for its multi-cancer screening and detection test sample volume, and its CDA technology platform has demonstrated high sensitivity and specificity in detecting the risk of over 20 different cancer types.

For investor and media inquiries, please contact Phil Case, Marketing and Investor Relations, at +1-267-810-6776 (US) or email phil_case@AnPacbio.com.

This announcement contains forward-looking statements, subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, assumptions, and uncertainties, and 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. The Company advises against placing undue reliance on these forward-looking statements, and it does not undertake any obligation to revise or update them publicly, except as required by law.