Noninvasive diagnostic test for lung cancer
available to U.S. Veterans, other federal health services
patients
bioAffinity Technologies, Inc. (Nasdaq: BIAF;
BIAFW), a biotechnology company focused on the need for
noninvasive tests for the detection of early-stage cancer, today
announced that CyPath® Lung, its noninvasive test to detect
early-stage lung cancer, will be added to the U.S. Federal Supply
Schedule, a procurement system that provides the Veterans Health
Administration (VHA) and the Military Health System streamlined
access to state-of-the-art healthcare products and services.
The VHA, part of the U.S. Department of Veterans Affairs (VA),
serves 9.1 million Veterans each year and is the largest integrated
health care system in the country, providing care at 1,380 health
care facilities, including 170 medical centers and 1,193 outpatient
sites of care of varying complexity (VHA outpatient clinics).
Approximately 8,000 Veterans are diagnosed and treated for lung
cancer annually, according to the VA.
“Lung cancer is the leading cause of cancer-related death in
Veterans, despite being one of the most preventable cancers in the
world. The University of California, Irvine School of Medicine
reports that an estimated 15 Veterans die of lung cancer each day,
and Veterans are 25% more likely to receive a lung cancer diagnosis
compared to non-Veterans,” bioAffinity President and CEO Maria
Zannes said. “My father was one such Veteran who died from lung
cancer at age 39. That is just one of many reasons I am immensely
proud that VA and Department of Defense physicians will be able to
order CyPath® Lung for their patients to help detect early-stage
lung cancer with the goal of leading to better treatment and longer
lives.”
Retired Col. Roby Joyce, M.D., Medical Director of bioAffinity’s
subsidiary laboratory, Precision Pathology Laboratory Services, and
a bioAffinity board member, served in the Army Medical Corps for 15
years. “Both as a Veteran who was honored to serve and as the
Medical Director for the lab that developed CyPath® Lung to detect
this deadly cancer, I am proud to partner with the VA and the
Military Health System to help improve health outcomes for the
millions of Veterans and active-duty military who are at higher
risk for lung cancer,” Joyce said. “It’s incredibly gratifying to
see the VA acknowledge CyPath® Lung as a valuable tool for the
early diagnosis of lung cancer, which affects far too many past and
present members of our military.”
Veterans are at higher risk for lung cancer due to older age,
smoking and environmental exposure during and after military
service. Through programs like the Lung Precision Oncology Program
(LPOP), the VA promotes annual lung cancer screening for high-risk
individuals. CyPath® Lung is especially effective for patients who
receive a positive screening result. When a low dose computed
tomography (LDCT) scan reveals indeterminate pulmonary nodules,
CyPath® Lung helps close the gap between a “wait and see” option
and an invasive procedure, including biopsy, that may turn out to
be unnecessary.
A recent economic impact study found that adding CyPath® Lung to
the current standard of care could save hundreds of millions of
dollars per year in healthcare costs by reducing follow-up
diagnostic assessments, expensive follow-up procedures and
procedure-related complications. Michael J. Morris, M.D., Brooke
Army Medical Center (BAMC) pulmonology and critical care physician
and Assistant Dean of Research at San Antonio Uniformed Services
Health Education Consortium (SAUSHEC), and Sheila A. Habib, M.D.,
Director of the Pulmonary Lung Nodule Clinic and the Lung Cancer
Screening Program at the South Texas Veterans Health Care Systems’
Audie L. Murphy Memorial Veterans Hospital and Assistant Professor
at the University of Texas Health Science Center at San Antonio,
were lead co-authors of the study.
About CyPath® Lung
CyPath® Lung uses proprietary advanced flow cytometry and
artificial intelligence (AI) to identify cell populations in
patient sputum that indicate malignancy. Automated data analysis
helps determine if cancer is present or if the patient is
cancer-free. CyPath® Lung incorporates a fluorescent porphyrin,
meso-tetra (4-carboxyphenyl) porphyrin (TCPP), that is
preferentially taken up by cancer and cancer-related cells.
Clinical study results demonstrated that CyPath® Lung had 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. Diagnosing and treating
early-stage lung cancer can improve outcomes and increase patient
survival. For more information, visit www.cypathlung.com.
About bioAffinity Technologies, Inc.
bioAffinity Technologies, Inc. (Nasdaq: BIAF) 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. 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 CyPath® Lung for helping to detect
early-stage lung cancer with the goal of leading to better
treatment and longer lives, adding CyPath® Lung to the current
standard of care saving hundreds of millions of dollars per year in
healthcare costs by reducing follow-up diagnostic assessments,
expensive follow-up procedures and procedure-related complications,
and diagnosing and treating early-stage lung cancer improving
outcomes and increasing patient survival. 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 of CyPath® Lung to aid in helping to detect early-stage
lung cancer and to save hundreds of millions of dollars per year in
healthcare costs by reducing follow-up diagnostic assessments,
expensive follow-up procedures and procedure-related complications
and the other factors discussed in the Company’s Annual Report on
Form 10-K for the year ended December 31, 2023, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241009740132/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
bioAffinity Technologies (NASDAQ:BIAF)
Historical Stock Chart
From Oct 2024 to Nov 2024
bioAffinity Technologies (NASDAQ:BIAF)
Historical Stock Chart
From Nov 2023 to Nov 2024
