bioAffinity Technologies, Inc.

bioAffinity Technologies, based in Texas, USA, focuses on developing and commercializing diagnostic tests for early-stage lung cancer detection, notably through its innovative CyPath® Lung product. bioAffinity Technologies, Inc. was founded in 2014 and operates out of San Antonio, Texas, USA. The company specializes in offering diagnostic solutions for lung cancer and has engaged in four deals to date, with its most recent funding round being an IPO in September 2022, where it raised USD 15.

6 mn. Maria Zannes serves as the CEO of the company. bioAffinity Technologies specializes in the development and commercialization of innovative diagnostic tests for early-stage lung cancer detection. Their primary product, CyPath® Lung, is a non-invasive laboratory-developed test (LDT) that assists clinicians in making informed decisions regarding lung cancer when low-dose computed tomography (LDCT) results are indeterminate.

The test utilizes advanced flow cytometry to analyze sputum samples collected at home, characterizing cell populations in the lung's micro-environment to indicate the presence of cancer. This product is primarily aimed at individuals at high risk for lung cancer, particularly those with suspicious nodules less than 20 mm. CyPath® Lung is marketed through Precision Pathology Laboratory Services, expanding its reach primarily in the United States, where it addresses the urgent need for improved diagnostic accuracy and reduced unnecessary invasive procedures in lung cancer management. In the most recent year of 2022, bioAffinity Technologies reported a revenue of USD 4,803 mn, with an EBITDA of USD -4,000,876.

Their revenue model is predominantly based on the sales of the CyPath® Lung test, which healthcare providers order for patients with indeterminate LDCT results, operating on a business-to-business (B2B) basis. bioAffinity Technologies plans to utilize the proceeds from their IPO in September 2022 to further commercialize and develop their product offerings. The company is focused on designing new products to enhance their diagnostic portfolio while exploring expansion into new markets. Specific geographic areas targeted for growth have not been disclosed, but efforts will likely center on increasing their presence within the U.

S. healthcare system and possibly into international markets as development proceeds.