bioAffinity Technologies Appoints Jamie Platt, Ph.D., to its Board of Directors
December 05 2023 - 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, today announced the appointment of Jamie Platt, Ph.D., to
its Board of Directors effective Dec. 1, 2023. Dr. Platt has two
decades of experience bringing novel diagnostic technologies to
global markets.
“Dr. Platt’s impressive track record in transforming research
organizations into successful commercial entities, her commitment
to operational excellence and innovation, and her extensive
experience in expanding product market share in the diagnostics
market make her a valuable asset to our team as we move forward
with the commercialization of CyPath® Lung, our noninvasive test
for the early detection of lung cancer,” bioAffinity Technologies
President and CEO Maria Zannes said. “We are pleased to welcome Dr.
Platt to our Board where we believe her scientific acumen, business
leadership and board experience will be influential in driving
bioAffinity's growth and success.”
Dr. Platt was instrumental in two M&A exits for diagnostic
companies that were completed in 2022, resulting in a combined
value of nearly $1 billion. Dr. Platt was Chief Operating Officer
(COO) of Personal Genome Diagnostics which was acquired by LabCorp
for $575 million. She also served as COO at Inivata, Inc. where she
led operations in support of a next-generation sequencing (NGS)
liquid biopsy laboratory developed test, which was acquired by
Neogenomics. Dr. Platt began her career at Quest Diagnostics where
she assumed progressively greater leadership responsibilities
before transitioning to Vice President of Genomic Solutions at
Molecular Pathology Laboratory Network, which provides
comprehensive services and innovative technologies in laboratory
medicine to clients in pathology groups, hospitals, medical
laboratories and physician groups nationwide.
Dr. Platt currently serves as the Managing Director and CEO of
Pictor Limited where she is leading a turnaround by restructuring
and accelerating product development. Under her leadership, the
company raised a Series A funding and enhanced the board with
expertise from U.S. and international markets. Concurrently, she is
President and CEO of BRIDGenomics, LLC, a private consulting and
contract commercialization firm she founded in 2015 to provide
molecular and genomic-based strategies to clients.
In addition to her role on the board of Pictor Limited, Dr.
Platt has served on the boards of Mobility Health, a biohealth
diagnostic company focused on precise, rapid infectious disease
testing, and DxTerity, a leader in genomic immune-mediated
diagnostic technology that develops easy-to-use, fast and
affordable genomic tests for disease diagnosis and monitoring. In
addition to her board seats, Dr. Platt has held scientific advisory
roles for Roche and Genomics England and served on several working
groups in the diagnostics, regulatory and genomic areas.
"I am deeply honored to join the bioAffinity Technologies Board
of Directors," Dr. Platt said. "As a molecular and cellular
biologist, I appreciate the science behind the CyPath® Lung
technology and recognize its potential to transform patients’ lives
by detecting lung cancer and other lung diseases early when
outcomes are better. I look forward to contributing to the growth
and success of bioAffinity Technologies as this talented team
continues to innovate and redefine what's possible in early-stage
cancer detection and treatment."
Dr. Platt replaces Mohsin Y. Meghji who stepped down from the
Board of Directors on Dec. 1, 2023, after serving four years. Mr.
Meghji’s resignation was for personal reasons and not due to any
disagreement with the Company or its operations, policies or
practices. “We want to thank Mr. Meghji for his valuable
contributions to bioAffinity. It has been a pleasure to work with
him, and we wish him well on his future endeavors," Ms. Zannes
said.
About CyPath® Lung
CyPath® Lung uses flow cytometry to identify cell populations in
patient sputum that indicate malignancy. Automated data analysis
developed using proprietary artificial intelligence can help
determine if cancer is present or if the patient is cancer-free.
CyPath® Lung incorporates a fluorescent porphyrin, TCPP, that is
preferentially taken up by cancer and cancer-related cells. In a
clinical trial, CyPath® Lung showed 92% sensitivity, 87%
specificity and 88% accuracy in detecting lung cancer in patients
at high risk for the disease who had small lung nodules less than
20 millimeters. Half of all patients in the trial who had cancer
were diagnosed in early Stages I or II. Diagnosing and treating
early-stage cancer can increase patient survival and improve
outcomes.
About bioAffinity Technologies, Inc.
bioAffinity Technologies, Inc. addresses the need for
noninvasive diagnosis of early-stage cancer and diseases of the
lung and targeted 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. Research and optimization of the
Company’s platform technologies are conducted in its laboratories
at Precision Pathology and The University of Texas at San Antonio.
For more information, visit www.bioaffinitytech.com and follow us
on LinkedIn 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 Ms. Platt’s expected contributions,
such as her scientific acumen, business leadership and board
experience being instrumental in driving bioAffinity's growth and
success and the potential of the CyPath® Lung technology to
transform patients’ lives by detecting lung cancer and other
diseases of the lung early. 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 expectations include, among others, the ability to derive
benefits from Dr. Platt’s contributions, the ability of the CyPath®
Lung technology to transform patients’ lives and the other factors
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20231205195077/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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