bioAffinity Technologies Announces Award of Therapeutic Patent for Treatment of Cancer
January 23 2024 - 7:00AM
Business Wire
Indian Patent Office Grants Patent Related
to Porphyrin Compounds for Targeted Cancer Treatment
bioAffinity Technologies, Inc. (Nasdaq: BIAF;
BIAFW), a biotechnology company focused on the need for
noninvasive, accurate tests for the detection of early-stage cancer
and lung disease, today announced that India’s Office of the
Controller General of Patents, Designs and Trade Marks has issued a
Certificate of Grant of Patent to bioAffinity subsidiary OncoSelect
Therapeutics, LLC for its compositions and methods to treat cancer
using chemotherapeutic agents conjugated to porphyrins, resulting
in targeted delivery of the drugs.
The Indian patent, titled “Porphyrin Compounds and Compositions
Useful for Treating Cancer” is an important addition to bioAffinity
Technologies’ patent portfolio, which includes 16 awarded U.S. and
foreign patents and 23 pending patent applications related to its
porphyrin-based diagnostic platform and cancer treatment
therapeutics.
“India’s patent is an acknowledgement of the value of our
ongoing research, development and commercialization of
porphyrin-based diagnostics and targeted treatments for lung cancer
and other diseases,” bioAffinity Technologies’ President and CEO
Maria Zannes said. “We are committed to improving the outcome for
cancer patients around the world, beginning with lung cancer, the
deadliest cancer killer. Strong intellectual property protection
for our innovative science benefits not only patients in need of
treatment and their physicians, but also our research team and our
shareholders as well.”
bioAffinity Technologies’ first product, CyPath® Lung, is a
porphyrin-based diagnostic test for early-stage lung cancer.
Physicians use CyPath® Lung for patients at high risk for
developing lung cancer, often after recommended screening reveals
indeterminate pulmonary lung nodules that may or may not be
malignant. CyPath® Lung is a noninvasive test that uses advanced
flow cytometry and artificial intelligence to differentiate
patients with cancer from those who do not have the disease.
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 treatments. The Company’s first
product, CyPath® Lung, is a noninvasive test that has shown high
sensitivity, specificity and accuracy 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. 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, Facebook and X.
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 improving the outcome for cancer
patients around the world beginning with lung cancer and strong
intellectual property protection benefitting patients, their
physicians, the Company’s research team and the Company’s
shareholders. 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 Company’s ability to
continue to develop and commercialize porphyrin-based diagnostics
and targeted treatments for lung cancer and other diseases 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/20240123142887/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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