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SAN ANTONIO, March 06, 2019 (GLOBE NEWSWIRE) -- Healthcare innovators Lyfebulb and Helsinn selected bioAffinity Technologies, a privately held biotech company developing diagnostics and therapeutics for cancer, as one of 10 finalists for the second annual Lyfebulb-Helsinn Innovation Award in Oncology. The Innovation Award recognizes groundbreaking work to advance the prevention and management of cancer.
The award recognizes therapeutics, diagnostics, medical devices or healthcare information technology (IT) tools that promise to make a difference in patients’ lives. Finalists represent companies that have been founded or led by cancer patients, cancer survivors or those with loved ones affected by cancer. The award will be presented at the second annual Lyfebulb-Helsinn Innovation Summit March 18-19, 2019, in Monaco.
bioAffinity is currently conducting a test validation trial at seven clinical sites for its first product, CyPath® Lung, a Laboratory Developed Test (LDT) for the diagnosis of early-stage lung cancer. The porphyrin-based CyPath® assay preferentially binds to cancer cells in bodily fluids, such as sputum or urine, and causes them to fluoresce in contrast to non-cancer cells. CyPath® Lung will be a highly accurate, non-invasive test for the early detection of lung cancer, which claims more lives annually than any other cancer. The Company’s success with CyPath® Lung, expected to enter the market later this year, will lead to non-invasive tests for prostate, bladder, cervical and other cancers in need of accurate and early diagnosis.
“We are delighted that Lyfebulb-Helsinn sees our CyPath® assay as a potential gamechanger in the detection of early-stage lung cancer,” bioAffinity President and Chief Executive Officer Maria Zannes said. “It is an honor to share this recognition with the other nine finalists who all represent an entrepreneurial and creative approach to fighting cancer and making life better for patients.”
The Lyfebulb-Helsinn Summit gives finalists an opportunity to showcase their innovations to potential investors and increase their visibility on an international scale.
About bioAffinity Technologies, Inc.
bioAffinity Technologies, Inc. (www.bioaffinitytech.com) is a privately held development-stage company addressing the significant unmet need for non-invasive, early-stage cancer diagnosis and treatment. The Company develops proprietary in-vitro diagnostic tests and targeted cancer therapeutics using breakthrough technology that preferentially targets cancer cells. Research and optimization of its platform technology is conducted in bioAffinity Technologies’ laboratories at the University of Texas San Antonio (UTSA). The Company’s platform technology will be developed to diagnose, monitor and treat many cancers.
Lyfebulb is a chronic disease-focused, patient empowerment platform that connects patients, industry (manufacturers and payers) and investors to support user-driven innovation. Lyfebulb promotes a healthy, take-charge lifestyle for those affected by chronic disease. Grounded with its strong foundation in diabetes, the company has expanded disease states covered into cancer, inflammatory bowel disease and multiple sclerosis.
About Helsinn International Services sarl
Helsinn International Services sarl is the Helsinn subsidiary which provides a range of advisory services and strategic activities to the Group and its specific companies. In particular, it acts as the advisory company to Helsinn Investment Fund.
About Helsinn Investment Fund S.A., SICAR
The Helsinn Investment Fund is focused on early-stage investments in areas of high unmet patient need. Backed by the Helsinn Group, and guided by Helsinn’s core values of quality, integrity and respect, Helsinn Investment Fund aims to help companies with innovative technologies to transform new ideas into commercial solutions with the potential to impact health-related quality of life of patients.
Drawing on Helsinn’s over 40 years of investment into research and development and commercial expertise, the investment fund selects companies with technologies in a range of areas including cancer therapeutics and diagnostics, cancer supportive care, metabolic and gastrointestinal disorders, and dermatology conditions. Please visit www.helsinninvestmentfund.com for more information.
About the Helsinn Group
Helsinn is a privately owned pharmaceutical group with an extensive portfolio of marketed cancer care products and a robust drug development pipeline. Since 1976, Helsinn has been improving the everyday lives of patients, guided by core family values of respect, integrity and quality. The Group works across pharmaceuticals, biotechnology, medical devices and nutritional supplements and has expertise in research, development, manufacture and the commercialization of therapeutic and supportive care products for cancer, pain and inflammation, and gastroenterology. In 2016, Helsinn created the Helsinn Investment Fund to support early-stage investment opportunities in areas of unmet patient need. The company is headquartered in Lugano, Switzerland, with operating subsidiaries in Switzerland, Ireland, the U.S., Monaco and China, as well as a product presence in approximately 190 countries globally. To learn more about Helsinn Group, please visit www.helsinn.com.
Contact: Maria Zannes, 505.400.9747