Quick Take
AnPac Bio-Medical Science (ANPC) has filed to raise $21.7 million in a U.S. IPO, per an amended F-1 registration statement.
The company is developing early cancer screening and detection technologies.
ANPC is asking IPO investors to pay a Price / Sales multiple of 94x versus a public comparable of around 5x. Combined with the firm’s decelerating financial results, the IPO appears overpriced.
Company & Technology
Lishui, China-based AnPac Bio was founded in 2010 to develop ‘next-generation’ methods for early cancer screening and detection through its patented Cancer Differentiation Analysis [CDA]