#USA #Jersey City #WallachBeth #bioAffinity #CyPath

bioAffinity Technologies Secures $1.8 Million Financing

In a significant step towards advancing cancer diagnostics, bioAffinity Technologies, Inc. has successfully finalized a $1.8 million registered direct offering. This financing is particularly focused on supporting the company's innovative noninvasive test for early-stage lung cancer detection, known as CyPath® Lung. The offering was made available at a market price of $2.50 per share, in compliance with Nasdaq regulations. The deal was facilitated by WallachBeth Capital LLC, which served as the sole placement agent.

The Importance of Noninvasive Cancer Testing

As cancer remains a leading cause of mortality worldwide, the need for effective early detection methods has never been more pressing. Traditional cancer screening methods can often be invasive, uncomfortable, and carry risks for the patients. bioAffinity Technologies aims to change this narrative with its CyPath® Lung test, tailored specifically for lung cancer detection without the need for invasive procedures.

The net proceeds from this latest financing agreement will be directed primarily towards bolstering operations and supporting the anticipated increase in sales associated with the CyPath® Lung test. The company continues to emphasize its commitment to increasing access to reliable and noninvasive cancer screening options for patients, making strides in a field that desperately requires innovation.

WallachBeth Capital's Role

WallachBeth Capital LLC, renowned for its capital markets execution services, played an integral role in facilitating this offering. As a broker-dealer, the firm specializes in advisory and execution services within capital markets transactions. Their involvement has propelled bioAffinity Technologies into a position where it can effectively raise capital, thereby enhancing its position in the biotechnology field.

WallachBeth Capital's strategic guidance has enabled the successful completion of this funding round, which is pivotal for bioAffinity as it seeks to expand its offerings and market presence. This alignment underscores the growing recognition of biotech firms and their pivotal role in modern medicine.

Future Outlook

Looking ahead, bioAffinity Technologies is optimistic about the future trajectory of its noninvasive testing solutions. The company has laid great emphasis on the importance of safety and accuracy in cancer detection, hallmarks that could significantly improve patient outcomes.

The potential of the CyPath® Lung test lies not only in its noninvasive nature but also in its promise to alter the landscape of lung cancer diagnosis, offering peace of mind to patients often daunted by invasive testing options.

In conclusion, the recent $1.8 million financing from WallachBeth Capital marks a significant milestone for bioAffinity Technologies. The funds will be instrumental in propelling the company's innovative approach towards early cancer detection, setting a precedent for future advancements in biotechnology. The collaboration with WallachBeth is likely to enhance the visibility and reach of bioAffinity’s offerings in a competitive marketplace, reaffirming the importance of investment in health technology.