Release date: 2017-07-27
BioAffinity Technologies, a biotechnology company focused on early cancer treatment, announced that it has received $4 million in Series A financing. The investor includes high net worth (HNWI) and family offices from the US and East Coast. These new investments have enabled the company's current total financing to reach $12 million.
(Source: company's official website)
BioAffinity's technology focus is primarily on early non-invasive diagnosis and anti-cancer treatment of cancer. The proprietary technology platform includes a line of in vitro diagnostic and anti-cancer targeted therapies for the diagnosis, monitoring and treatment of a variety of cancers.
The company's flagship product, CyPath, plans to be the first to be successfully applied to the early non-invasive diagnostic techniques for lung cancer. The product contains a molecule called porphyrin, which has an unusually high affinity for cancer cells and can be labeled for cancer cells. Using CyPath? to detect sputum, qualitative and quantitative detection of cancer cells in the sputum, early non-invasive diagnosis of lung cancer.
Using CyPath's high affinity for cancer cells, chemotherapeutic drugs can also be linked to CyPath, so CyPath can accurately deliver chemotherapeutic drugs to cancerous foci, accurately target anti-cancer, and reduce normal tissue damage.
(Company President and CEO: Ms. Maria Zannes, image source: company website)
The company's CEO, Maria Zannes, said the funding will continue to be used to facilitate the completion of CyPath's internal testing research, which will be rolled out to the Clinical Laboratory Improvements (CLIA) validation trial in the coming year.
Reference material
[1] BioAffinity Raises $4M to Continue Tests on Lung Cancer Diagnostic
[2] BioAffinity Technologies official website
Source: Chuangjianhui (WeChat Inno_Insight)
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