Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 204

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 204
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 our license agreements. Should our licensors or any of the upstream
licensors fail to comply with their obligations under the agreements pursuant to which they obtain the rights that are sublicensed to
us, or should such agreements be terminated or amended, our ability to develop and commercialize our diagnostic tests or therapeutic
product candidates may be materially harmed.

 38 

In
the future, we may need to obtain additional licenses of third-party technology that may not be available to us or are available only
on commercially unreasonable terms, which may cause us to operate our business in a more costly or otherwise adverse manner that was
not anticipated

We
currently own intellectual property directed to our diagnostic tests, therapeutic product candidates and other proprietary technologies.
Other pharmaceutical companies and academic institutions may also have filed or are planning to file patent applications potentially
relevant to our business. From time to time, in order to avoid infringing these third-party patents, we may be required to license technology
from additional third parties to further develop or commercialize our diagnostic tests or therapeutic product candidates. Should we be
required to obtain licenses to any third-party technology, including any such patents required to manufacture, use, or sell our product
candidates, such licenses may not be available to us on commercially reasonable terms or at all. The inability to obtain any third-party
license required to develop or commercialize any of our product candidates could cause us to abandon any related efforts, which could
seriously harm our business and operations. The licensing or acquisition of third-party intellectual property rights is a competitive
area, and several more established companies may pursue strategies to license or acquire third-party intellectual property rights we
may consider attractive or necessary. These established companies may have a competitive advantage over us due to their size, capital
resources, and greater clinical development and commercialization capabilities. In addition, companies that perceive us to be a competitor
may be unwilling to assign or license rights to us. Even if we are able to obtain a license under such intellectual property rights,
any such license may be non-exclusive, which may allow our competitors access to the same technologies licensed to us.

Moreover,
some of our owned and in-licensed patents or patent applications or future patents may be co-owned with third parties. If we are unable
to obtain an exclusive license to any such third-party co-owners’ interest in such patents or patent applications, such co-owners
may be able to license their rights to other third parties, including our competitors, and our competitors could market competing diagnostic
tests or