Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 203

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 203
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 valid and enforceable patents and other intellectual property rights. We may have limited control over the manner in which our
licensors initiate an infringement proceeding against a third-party infringer of the intellectual property rights or defend certain of
the intellectual property that may be licensed to us. It is possible that the licensors’ infringement proceeding or defense activities
may be less vigorous than if we conduct them ourselves. Even if we acquire the right to control the prosecution, maintenance, and enforcement
of the licensed and sublicensed intellectual property relating to our diagnostic tests or therapeutic product candidates, we may require
the cooperation of our licensors and any upstream licensor, which may not be forthcoming. Therefore, we cannot be certain that the prosecution,
maintenance, and enforcement of such patent rights dependent on third-party licenses will be in a manner consistent with the best interests
of our business. If we or our licensor fail to maintain such patents, or if we or our licensor lose rights to those patents or patent
applications, the rights we have licensed may be reduced or eliminated, and our right to develop and commercialize any of our diagnostic
tests or therapeutic product candidates that are the subject of such licensed rights could be adversely affected. In addition to the foregoing,
the risks associated with patent rights that we license from third parties will also apply to patent rights we may own in the future.
Further, if we fail to comply with our diligence, development and commercialization timelines, milestone payments, royalties, insurance,
and other obligations under our license agreements, we may lose our patent rights with respect to such agreement, which would affect our
patent rights worldwide.

Our inability to secure any future license agreements necessary for development of our products would reduce or eliminate
our rights under these agreements on which we rely that include license provisions and may result in our having to negotiate new or reinstated
agreements with less favorable terms or cause us to lose our rights under these agreements, including our rights to important intellectual
property or technology. Any of the foregoing could prevent us from commercializing our other diagnostic tests or therapeutic product candidates
that are dependent on third-part license agreements which could have a material adverse effect on our operating results and overall financial
condition.

In
addition, intellectual property rights that we in-license in the future may be sublicenses under intellectual property owned by third
parties, in some cases through multiple tiers. The actions of our licensors may therefore affect our rights to use our sublicensed intellectual
property, even if we are in compliance with all of the obligations under