Full Press Release Details
Technologies Announces Award of Therapeutic Patents in China, Mexico and Australia
patents protect novel porphyrin conjugated compounds for selective delivery of cancer treatments
ANTONIO, TX - Oct. 25, 2022 - bioAffinity Technologies, Inc. (NASDAQ: BIAF; BIAFW) announced the People's Republic
of China awarded a Certificate of Patent to the Company's wholly owned subsidiary OncoSelect for its patent "Porphyrin
Compounds and Compositions Useful for Treating Cancer" that is directed to novel compounds in which porphyrins are conjugated
to chemotherapeutics for selective delivery of cancer treatment.
Technologies also announced that Mexico and Australia recently awarded the Company therapeutic patents with claims directed to novel
compounds of porphyrin conjugates for selective delivery of cancer treatment. The patents grant protection to 2037.
estimated 4.5 million people are expected to receive a cancer diagnosis this year in China, and more than 3 million people are expected
to die. Cancer is the leading cause of death in China," said Maria Zannes, President and Chief Executive Officer of bioAffinity
Technologies. "Nearly 200,000 Mexicans are diagnosed annually with cancer, and an estimated one in 18 Australians are expected
to have a personal history of cancer by 2040. The award of these patents in China, Mexico and Australia is further evidence that bioAffinity
Technologies can be a leader in advancing novel approaches for both diagnosing and treating this deadliest of diseases."
therapeutic discoveries are the result of research related to advancing its non-invasive lung cancer diagnostic CyPath
Lung which has shown 92% sensitivity and 87% specificity in detecting lung cancer in people at high risk for the disease and who have
small nodules less than 20 millimeters. CyPath Lung uses a specific fluorescent porphyrin that labels cancer cells in
a patient's lung sputum sample for detection using flow cytometry. The intellectual property associated with CyPath
Lung was licensed and has been developed as a laboratory developed test by Precision Pathology Services for sale to physicians.
research led to an accurate, patient-friendly test to detect early-stage lung cancer. Our research also uncovered novel approaches being
developed to treat cancer. The selectivity of porphyrins for cancer makes them excellent candidates for drug delivery and diagnostic
products," Zannes said.
Company and its subsidiary OncoSelect hold patents in the U.S., Australia, Canada, China, France, Germany, Hong Kong, Italy, Mexico,
Spain, Sweden, and the United Kingdom.
bioAffinity Technologies, Inc.
Technologies, Inc. (NASDAQ: BIAF; BIAFW) 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 non-invasive 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 Services. OncoSelect Therapeutics, LLC, a subsidiary of bioAffinity Technologies,
is advancing its discoveries shown in vitro to kill cancer cells without harm to normal cells. Research and optimization of the
Company's platform technologies are conducted in its laboratories at The University of Texas at San Antonio.
press release contains forward-looking statements, including statements regarding the anticipated use of proceeds from the Company's
offering of common shares. Forward-looking statements can be identified by words such as "believes," "expects,"
"estimates," "intends," "may," "plans," "will" and similar expressions, or
the negative of these words. 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. Readers of this press release are cautioned not to place undue reliance on
any forward-looking statements. 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.
Zannes, President & Chief Executive Officer
Strategic Advisors, Inc.