BIOAF is focused on blood-brain-barrier (BBB) penetrating technology that can be attached to existing therapeutics.
The MedImmune division of AZN has independently validated their platform
The problem is that the company only has a cash runway into early 2019, leaving them short of the ability to initiate a Ph1 study for their lead program.
Presently, BIOAF is preparing for a Pre-IND meeting for its lead program, HER 2+ Brain Metastases therapy.
The easiest solution to financing the company into the clinic would be a NASDAQ IPO. To qualify, the company was reverse split and raise capital to meet NAZ requirements.