 SAN JOSE, Calif., May 25, 2021 GLOBE NEWSWIRE -- AnPac Bio-Medical Science Co., Ltd. ANPC AnPac Bio, the Company or we, a biotechnology company with operations in China and the United States focused on early cancer screening and detection, announced today that on May 17, 2021, its board of directors approved the Company to establish a joint venture the Joint Venture together with its founder and chairman, Dr. Chris Chang Yu, and certain other individuals to develop a new cancer treatment technology and associated products. AnPac Bio will contribute two filed patent applications in the space of cancer treatment to the Joint Venture, and shareholding percentages of AnPac Bio and other shareholders in the Joint Venture will be determined based on the value of the patent applications assessed by an independent appraisal firm, as well as other commercial factors. 