bioAffinity Technologies News Update

Rhea-AI Summary

bioAffinity Technologies, Inc. (Nasdaq: BIAF) announces significant developments, including the addition of CyPath® Lung test to Lung Innovations Network, expansion of sales team, addition of Dr. Sandeep Bansal to advisory board, and participation in American Thoracic Society's conference.

Insights

Oncology Doctor

Lung cancer remains a leading cause of cancer-related deaths worldwide and early detection is crucial for improving patient outcomes. The integration of CyPath® Lung into the Lung Innovations Network's practice is a significant step toward enhancing early detection strategies. From a clinical perspective, the use of noninvasive tests like CyPath® Lung has the potential to increase patient compliance due to its patient-friendly approach. Furthermore, the accessibility of such tests can lead to earlier diagnosis and treatment, which is critical in a disease where early-stage identification can dramatically improve survival rates.

As a noninvasive test, CyPath® Lung could reduce the need for more invasive procedures like biopsies, which carry risks and are often stressful for patients. However, the clinical efficacy and accuracy of CyPath® Lung in comparison to traditional methods must be closely monitored to ensure it meets the high standards required for cancer screening.

Medical Research Analyst

The addition of Dr. Sandeep Bansal to bioAffinity's Medical and Scientific Advisory Board is noteworthy. His dual expertise as a clinician and a researcher bridges the gap between innovative medical technologies and patient care. His experience in conducting clinical trials will be instrumental in guiding the company's research direction and ensuring that their products are not only innovative but also grounded in solid evidence that can withstand peer review.

Dr. Bansal's involvement in the company could also signal a strengthened focus on clinical validation and research, which is essential for gaining the trust of the medical community and achieving widespread adoption of new diagnostic tools like CyPath® Lung.

Market Research Analyst

The expansion of bioAffinity's sales team, with the hiring of Cole Koeppen in North Texas, indicates an aggressive approach to market penetration. Given the competitive landscape of medical diagnostics, Cole's experience with sales strategies and customer relationship management will be key factors in bioAffinity's ability to secure a foothold in the market. His background with Pulmonx and Becton Dickinson & Company suggests a proficiency in selling medical technologies, which could translate into increased market share for CyPath® Lung.

It is important to monitor the market response to these strategic hires and the subsequent sales performance in the region, as they will provide insights into the effectiveness of bioAffinity's market strategies and the overall market demand for noninvasive diagnostic tests.

SAN ANTONIO--(BUSINESS WIRE)-- bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW), a biotechnology company focused on the need for noninvasive tests for the detection of early-stage cancer and lung disease, provides a summary of recent Company news.

Lung Innovations Network Adds CyPath® Lung Test to its Comprehensive Lung Care Practice

Lung Innovations Network is incorporating CyPath® Lung, our noninvasive test for the early detection of lung cancer, into its patient-centered practice that offers comprehensive lung care to more than 10,000 patients in central and western Pennsylvania. Lung Innovations Network’s multidisciplinary team focuses on affordable, innovative and individualized care by incorporating new technologies and research into an evidence-based practice. “I see hundreds of patients a year in my clinical practice who can directly benefit from CyPath® Lung, bioAffinity’s patient-friendly, noninvasive test for lung cancer,” Medical Director Sandeep Bansal, M.D., said.

bioAffinity Expands Sales Team for CyPath® Lung

National Sales Director Dallas Coleman announced that Cole Koeppen has joined bioAffinity Technologies as Pulmonary Sales Executive for CyPath® Lung in North Texas. Cole most recently was Territory Sales Associate for Pulmonx Corporation, a provider of minimally invasive treatments for patients with chronic obstructive pulmonary disease (COPD). Prior to Pulmonx, Koeppen was Associate Territory Manager for Becton Dickinson & Company (BD), a global medical technology company. “Cole’s track record with both Pulmonx and BD demonstrates his talent for developing effective sales strategies, building long-term relationships with customers and meeting aggressive targets,” said Dallas. “I look forward to working with Cole to continue to expand our market share in North Texas.”

Sandeep Bansal, M.D., Joins bioAffinity Medical and Scientific Advisory Board

bioAffinity Technologies welcomes Dr. Bansal, Medical Director of Lung Innovations Network, to our Medical and Scientific Advisory Board. Board certified in pulmonary disease, critical care medicine and interventional pulmonology, Dr. Bansal has also served as principal investigator of multiple clinical research trials and peer reviewer for several medical journals. “Dr. Bansal’s experience as both clinician and researcher demonstrates his commitment to innovative healthcare and the best possible outcome for his patients,” bioAffinity Technologies President and CEO Maria Zannes said. “He will be a valuable voice on our advisory board.”

bioAffinity To Present at American Thoracic Society’s Annual Conference

bioAffinity Staff Scientist Lydia Bederka, Ph.D., will present her research, “Sputum Versus Bronchoalveolar Lavage (BAL) Fluid on a Flow Cytometric Platform,” at the 2024 American Thoracic Society (ATS) International Conference in San Diego from May 17-22, 2024. The research is focused on adapting the successful CyPath® Lung protocol, which detects cell populations in sputum that are indicative of lung cancer, to analyze BAL fluid obtained by bronchoscopy for the same purpose, the detection of lung cancer. The ATS conference brings 14,000 clinicians and researchers in pulmonology, critical care and sleep medicine together to share ideas and innovations.

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 treatment. The Company’s first product, CyPath^® Lung, is a noninvasive 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 Laboratory Services, a subsidiary of bioAffinity Technologies, Inc. For more information, visit www.bioaffinitytech.com and follow us on LinkedIn, Facebook and X (Twitter).

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 continuing to expand the Company’s market share in North Texas, patients directly benefitting from CyPath® Lung and the contributions to be made by Mr. Koeppen and Dr. Bansal. 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 to expand the Company’s market share, the ability to derive contributions from Mr. Koeppen and Dr. Bansal, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240221772695/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

Source: bioAffinity Technologies, Inc.

FAQ

What is the ticker symbol for bioAffinity Technologies?

The ticker symbol for bioAffinity Technologies is BIAF.

What is the CyPath® Lung test for?

The CyPath® Lung test is for the early detection of lung cancer.

Who joined bioAffinity Technologies as Pulmonary Sales Executive for CyPath® Lung in North Texas?

Cole Koeppen joined bioAffinity Technologies as Pulmonary Sales Executive for CyPath® Lung in North Texas.

Who is the Medical Director of Lung Innovations Network?

Dr. Sandeep Bansal is the Medical Director of Lung Innovations Network.

What research will Lydia Bederka present at the American Thoracic Society's conference?

Lydia Bederka will present her research on 'Sputum Versus Bronchoalveolar Lavage (BAL) Fluid on a Flow Cytometric Platform' at the American Thoracic Society's conference.