Lung cancer test developer BioAffinity files for $19M IPO

By Val Kennedy,



BioAffinity Technologies (BIAF), which is developing a test to better detect lung cancer in its earliest stages, has filed for a $19M initial public offering.

The Texas-based diagnostics maker didn’t specify the number of shares to be offered and their pricing, but indicated that it hoped to raise up to $19M through the deal.

BioAffinity hopes to list its shares on Nasdaq under the symbol BIAF. WallachBeth Capital is serving as lead bookrunner, according to the filing.

BioAffinity has developed a non-invasive test called CyPath that helps improve the accuracy of lung cancer screening by analyzing a patient’s phlegm for cancer-related cells using flow cytometry technology. The product is used in conjunction with low dose computed tomography, or LDCT.

The company also is developing targeted therapies to fight cancer through its subsidiary OncoSelect Therapeutics.

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