bioAffinity Technologies Searching for New Finance Chief

bioAffinity Technologies Inc. has begun its search for a new chief financial officer (CFO) upon Michael Dougherty’s resignation.

Dougherty left the company to fulfill a similar role in the Pacific Northwest in the energy industry. In his absence, J. Michael Edwards will assume CFO responsibilities. Edwards was bioAffinity’s consulting CFO from 2014 to 2023 and orchestrated the company’s initial public offering in 2022. 
 
“During his tenure, Mike Dougherty played an important role in the acquisition of Precision Pathology Laboratory Services and the growth in adoption of CyPath Lung, our noninvasive test for lung cancer,” bioAffinity Technologies President/CEO Maria Zannes said. “Mike has made significant contributions to bioAffinity’s success and is leaving us in good hands. We wish him the very best in his future endeavors.”

Edwards has more than 25 years of experience in corporate finance and accounting. Previously, he served as CFO of CytoBioscience Inc. and OncoVista Innovative Therapies Inc. He is a certified public accountant and earned an MBA from The University of Texas McCombs School of Business.
 
“I am grateful for the opportunity to work for bioAffinity Technologies and support its mission for the early detection of lung cancer. I’m proud of our accomplishments and leave with mixed emotions for this unexpected opportunity in the Pacific Northwest closer to home and family,” Dougherty said. “I have every confidence in the team we built and the financial planning and processes we implemented. I know this team will ensure the ongoing success of the Finance Department.”

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READ MORE: bioAffinity Technologies Bolsters New Product Development Efforts

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CyPath Lung uses proprietary advanced flow cytometry and artificial intelligence (AI) to identify cell populations in patient sputum that indicate malignancy. Automated data analysis helps determine if cancer is present or not. CyPath Lung incorporates a fluorescent porphyrin that is preferentially taken up by cancer and cancer-related cells. Clinical study results demonstrated that CyPath Lung had 92% sensitivity, 87% specificity and 88% accuracy in detecting lung cancer in patients at high risk for the disease who had small lung nodules less than 20 millimeters. Diagnosing and treating early-stage lung cancer can improve outcomes and increase patient survival. 
 
bioAffinity Technologies Inc. addresses the need to noninvasively diagnose early-stage cancer, other lung diseases, and broad-spectrum cancer treatments. The company’s first product, CyPath Lung, is marketed as a Laboratory Developed Test (LDT) by Precision Pathology Laboratory Services, a company subsidiary.