bioAffinity Technologies In The News
30 Enero 2024 - 7:00AM
Business Wire
bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW), a
biotechnology company focused on the need for noninvasive tests for
the detection of early-stage cancer and lung disease, provides a
summary of recent Company news.
Precision Pathology Laboratory Services Passes Biannual
Inspection for CAP Accreditation
Precision Pathology Laboratory Services (PPLS), a bioAffinity
Technologies company, successfully passed the rigorous biannual
inspection required for College of American Pathologists (CAP)
accreditation. CAP accreditation is a mark of excellence in
laboratory practices, ensuring that laboratories meet the highest
standards of quality and patient care under the Clinical Laboratory
Improvement Amendments (CLIA), including personnel qualifications,
equipment, facilities, safety protocols, and overall management and
quality of testing. bioAffinity Technologies Chief Operating
Officer Xavier T. Reveles said, “This achievement reaffirms our
employees’ commitment to upholding the highest standards of quality
and patient care by providing accurate and reliable pathology
services, including our CyPath® Lung test for detection of
early-stage lung cancer.”
India Awards Patent for Targeted Cancer Treatment to
bioAffinity Subsidiary
bioAffinity Technologies subsidiary OncoSelect Therapeutics, LLC
recently received patent protection in India for methods to treat
cancer using chemotherapeutic agents conjugated to porphyrins.
Certain porphyrins, including TCPP, which is used in our CyPath®
Lung diagnostic for lung cancer, are fluorescent molecules that
have an affinity for cancer cells. OncoSelect research is focused
on harnessing the characteristics of porphyrins to develop
broad-spectrum treatments for multiple cancers. The Indian patent
expands our intellectual property portfolio to 16 awarded U.S. and
foreign patents and 23 pending patent applications related to its
porphyrin-based diagnostic platform and cancer treatment
therapeutics.
ScienceSoft Highlights Collaboration with bioAffinity
ScienceSoft, which provides IT consulting and software
development services to more than 1,200 clients around the globe,
recently published a case study of its work with bioAffinity
Technologies. ScienceSoft helped transform CyPath® Lung’s
proprietary algorithm into a desktop analytics application.
Developed using artificial intelligence, the algorithm allows
CyPath® Lung to profile the approximately 16 million cells in an
average sputum sample in minutes to identify cell populations
indicative of lung cancer. “Our project required a large amount of
industry-specific methodology and integration of our proprietary
algorithm into desktop software that can be used by laboratory
technicians. The ScienceSoft team did an excellent job and will
continue as a trusted consultant as we commercialize CyPath Lung,”
bioAffinity President and CEO Maria Zannes said.
bioAffinity Technologies and CyPath® Lung Featured on Webull
Corporate Connect
More than 1,000 people registered for Webull Corporate Connect’s
recent investment webinar that featured bioAffinity Technologies’
President and CEO Maria Zannes and two other healthcare executives.
Maria’s presentation highlighted the ongoing global need for a
noninvasive, accurate and cost-effective technology to detect lung
cancer at an early stage when treatment options are more effective.
CyPath® Lung is a commercially available diagnostic test for lung
cancer that addresses this unmet need by using advanced flow
cytometry and artificial intelligence to identify cell populations
in patient sputum indicative of malignancy. Lung cancer remains the
leading cause of cancer deaths worldwide with a diagnostic test
market estimated at $2.6 billion in 2022 and projected to reach
$4.7 billion by 2030.1
About bioAffinity Technologies, Inc.
bioAffinity Technologies, Inc. addresses the need for
noninvasive diagnosis of early-stage cancer and diseases of the
lung and broad-spectrum cancer treatment. The Company’s first
product, CyPath® Lung, is a noninvasive test that has shown high
sensitivity and specificity for the detection of early-stage lung
cancer. CyPath® Lung is marketed as a Laboratory Developed Test
(LDT) by Precision Pathology Laboratory Services, a subsidiary of
bioAffinity Technologies, Inc. For more information, visit
www.bioaffinitytech.com and follow us on LinkedIn, Facebook and X
(Twitter).
Forward-Looking Statements
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the federal
securities laws. Words such as "may," "might," "will," "should,"
"believe," "expect," "anticipate," "estimate," "continue,"
"predict," "forecast," "project," "plan," "intend" or similar
expressions, or statements regarding intent, belief, or current
expectations, are forward-looking statements. These forward-looking
statements are based upon current estimates and assumptions and
include statements regarding upholding the highest standards of
quality and patient care by providing accurate and reliable
pathology services. These forward-looking statements are subject to
various risks and uncertainties, many of which are difficult to
predict that could cause actual results to differ materially from
current expectations and assumptions from those set forth or
implied by any forward-looking statements. Important factors that
could cause actual results to differ materially from current are
discussed in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2022, and its subsequent filings with the SEC,
including subsequent periodic reports on Forms 10-Q and 8-K. Such
forward-looking statements are based on facts and conditions as
they exist at the time such statements are made and predictions as
to future facts and conditions. While the Company believes these
forward-looking statements are reasonable, readers of this press
release are cautioned not to place undue reliance on any
forward-looking statements. The information in this release is
provided only as of the date of this release, and the Company does
not undertake any obligation to update any forward-looking
statement relating to matters discussed in this press release,
except as may be required by applicable securities laws.
1 ReportLinker. Global Lung Cancer Diagnostics Industry. Jan.
2023.
https://www.reportlinker.com/p05834219/Global-Lung-Cancer-Diagnostics-Industry.html
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version on businesswire.com: https://www.businesswire.com/news/home/20240130175551/en/
bioAffinity Technologies Julie Anne Overton Director of
Communications jao@bioaffinitytech.com
Investor Relations Dave Gentry RedChip Companies Inc.
1-800-RED-CHIP (733-2447) Or 407-491-4498 BIAF@redchip.com
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