The San Antonio-based biotechnology company bioAffinity Technologies, Inc. (NASDAQ: BIAF, BIAFW) has successfully closed a $3.25 million offering to support its development of noninvasive early-stage cancer detection technologies. The funding round, which closed on May 7, 2025, represents a significant step forward for the company's research and commercialization efforts.
Offering Details
The offering consisted of 10,156,250 shares of common stock (or pre-funded warrants) along with warrants to purchase up to an additional 15,234,375 shares. The combined public offering price was set at $0.32 per unit. WallachBeth Capital, LLC served as the sole placement agent for the transaction.
The securities were offered through a registration statement on Form S-1 (File No. 333-286921) that had been previously filed with and declared effective by the Securities and Exchange Commission (SEC).
Company Focus and Technology
bioAffinity Technologies specializes in developing noninvasive diagnostic tools for the early detection of cancer, addressing a critical need in oncology care. Early cancer detection significantly improves treatment outcomes and survival rates across various cancer types.
The company's flagship product, CyPath® Lung, represents their commitment to improving lung cancer diagnostics. Lung cancer remains one of the deadliest forms of cancer worldwide, with late detection being a primary factor in poor survival rates. Current screening methods often involve invasive procedures or radiation exposure, creating a substantial market opportunity for noninvasive alternatives.
Market Impact and Strategic Positioning
This funding comes at a crucial time for bioAffinity Technologies as it works to advance its diagnostic platform. The biotechnology sector has seen increased interest in noninvasive cancer detection technologies, with several companies competing to develop reliable early screening methods.
The $3.25 million raised will likely support ongoing research, clinical trials, and potential commercialization efforts for the company's diagnostic technologies. For investors, the offering represents an opportunity to participate in the growing field of cancer diagnostics, which is projected to expand significantly in the coming years as healthcare systems increasingly focus on early detection and prevention.
Regulatory Compliance
The company emphasized that the offering complied with all applicable securities laws and regulations. The final prospectus related to the offering has been filed with the SEC and is available on their website, providing detailed information for potential investors.
bioAffinity Technologies' successful funding round highlights the continued investor interest in innovative cancer detection technologies and positions the company to further advance its mission of improving early cancer diagnosis through noninvasive methods.
