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AnPac Bio-Medical Inks $15M Equity Investment Deal

NEW YORK — AnPac Bio-Medical Science said on Monday that it has signed an investment agreement that will raise $15 million over the next two and a half years.

Under the terms of the deal, Hunan Weitou Technology has agreed to invest $3 million in AnPac every six months for 30 months, with the first investment comprising the purchase of AnPac stock at $.414 per share.

The initial investment is expected to occur before the end of this month, Shanghai-based AnPac said. Additional details of the arrangement were not disclosed.

In March, AnPac — which performs cancer screening and detection tests from CLIA labs in China and the US — said that its shares would be delisted from the Nasdaq for failure to meet a number of the stock exchange's listing requirements.