bioAffinity Technologies Announces Award of Therapeutic Patents in China, Mexico and Australia
October 25 2022 - 9:15AM
Business Wire
Awarded patents protect novel porphyrin
conjugated compounds for selective delivery of cancer
treatments
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.
bioAffinity 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.
“An 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 Mexican 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.”
bioAffinity’s 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.
“bioAffinity’s 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.
The 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.
About bioAffinity Technologies, Inc.
bioAffinity 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.
Forward-Looking Statements
This 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20221025005345/en/
Company Contact: Maria Zannes, President & Chief
Executive Officer mz@bioaffinitytech.com
Investor Relations Contact: Tiberend Strategic Advisors,
Inc. Jonathan Nugent jnugent@tiberend.com or David Irish
dirish@tiberend.com
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