Lower Gwynedd-based Anpac Bio-Medical Expects to Raise $2.5M in Public Stock Offering

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Anpac
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Anpac Bio-Medical Science, a Chinese biotechnology company with its U.S. headquarters in Lower Gwynedd, expects to raise $2.5 million in a public stock offering, writes John George for the Philadelphia Business Journal.

The company that focuses on early cancer screening and detection is currently offering 1.13 million American depository shares at $2.22 per share. And if underwriters exercise their full option to purchase additional shares, the total amount could climb to $2.87 million.

The proceeds will be used to advance research and development activities as well as for working capital and general corporate purposes, according to documents the company filed with the Securities and Exchange Commission.

Anpac moved it U.S. headquarters from California to Lower Gwynedd last year, signing a 10-year lease at the Spring House Innovation Park to house their headquarters and a cancer screening lab.

Read more about Anpac Bio-Medical in the Philadelphia Business Journal.

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