PAVmed Acquires EsophaCap Manufacturer CapNostics LLC
07 Oktober 2021 - 3:30PM
Business Wire
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (the “Company” or
“PAVmed”), a highly differentiated, multi-product, commercial-stage
medical technology company, today announced a wholly owned
subsidiary of the Company has entered into a definitive membership
interests purchase agreement with Martin Von Dyck, the sole member
and owner of North Carolina-based CapNostics, LLC, which
manufactures EsophaCap®—a U.S. FDA 510(k)-cleared and European CE
Mark certified, non-endoscopic esophageal cell collection device
which has been used in pre-commercial clinical research of
esophageal precancer biomarkers at major academic medical centers.
Concurrently, the Company entered into an exclusive long-term
consulting agreement with Mr. Von Dyck, as well as an exclusive
long-term manufacturing agreement with the EsophaCap contract
manufacturer.
“Since entering this sector in 2018, PAVmed and its subsidiaries
have aggressively sought to increase shareholder value by building
a fully integrated and expanding portfolio of products which
broadly address early detection, monitoring and treatment of
esophageal disease,” said Lishan Aklog, M.D., PAVmed’s Chairman and
Chief Executive Officer. “Our major subsidiary, Lucid Diagnostics
Inc., has been focused on patients with gastroesophageal reflux
disease (“GERD”), also known as chronic heartburn, who are at risk
of developing esophageal precancer and cancer. We believe Lucid’s
EsoCheck remains the only noninvasive esophageal cell collection
device capable of performing the anatomically targeted and
protected sampling necessary to optimize diagnostic accuracy in
these patients.”
About PAVmed
PAVmed Inc. is a highly differentiated, multi-product,
commercial-stage medical technology company with a diversified
product pipeline addressing unmet clinical needs encompassing a
broad spectrum of clinical areas with attractive regulatory
pathways and market opportunities. Its major subsidiary, Lucid
Diagnostics Inc., markets the first and only commercial tools for
widespread early detection of esophageal precancer and cancer – the
EsoGuard® Esophageal DNA Test and EsoCheck® Esophageal Cell
Collection Device. Its GI Health division also includes the
complementary EsoCure™ Esophageal Ablation Device with Caldus™
Technology. Another major subsidiary, Veris Health Inc., is a
digital health company developing the first intelligent implantable
vascular access port with biologic sensors and wireless
communication to improve personalized cancer care through remote
patient monitoring. Its Minimally Invasive Interventions division
markets its CarpX® Minimally Invasive Device for Carpal Tunnel
Syndrome. Other divisions include Infusion Therapy (PortIO™
Implantable Intraosseous Vascular Access Device and NextFlo™
Intravenous Infusion Set), and Emerging Innovations (non-invasive
laser-based glucose monitoring, pediatric ear tubes, and mechanical
circulatory support). For more information, please visit
www.pavmed.com, follow us on Twitter, connect with us on LinkedIn,
and watch our videos on YouTube. For more information on our
majority owned subsidiary, Lucid Diagnostics Inc., please visit
www.luciddx.com, follow Lucid on Twitter, and connect with Lucid on
LinkedIn. For detailed information on EsoGuard, please visit
www.EsoGuard.com and follow us on Twitter, Facebook and
Instagram.
Forward-Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward-looking statements are
statements that are not historical facts. Such forward-looking
statements, based upon the current beliefs and expectations of
PAVmed’s management, are subject to risks and uncertainties, which
could cause actual results to differ from the forward-looking
statements. Risks and uncertainties that may cause such differences
include, among other things, the ability to complete the initial
public offering of Lucid; volatility in the price of PAVmed’s
common stock, Series W Warrants and Series Z Warrants; general
economic and market conditions; the uncertainties inherent in
research and development, including the cost and time required
advance PAVmed’s products to regulatory submission; whether
regulatory authorities will be satisfied with the design of and
results from PAVmed’s preclinical studies; whether and when
PAVmed’s products are cleared by regulatory authorities; market
acceptance of PAVmed’s products once cleared and commercialized;
our ability to raise additional funding and other competitive
developments. PAVmed has not yet received clearance from the FDA or
other regulatory body to market many of its products. The Company
has been monitoring the COVID-19 pandemic and its impact on our
business. The Company expects the significance of the COVID-19
pandemic, including the extent of its effect on the Company’s
financial and operational results, to be dictated by, among other
things, the success of efforts to contain it and the impact of
actions taken in response. New risks and uncertainties may arise
from time to time and are difficult to predict. All of these
factors are difficult or impossible to predict accurately and many
of them are beyond PAVmed’s control. For a further list and
description of these and other important risks and uncertainties
that may affect PAVmed’s future operations, see Part I, Item IA,
“Risk Factors,” in PAVmed’s most recent Annual Report on Form 10-K
filed with the Securities and Exchange Commission, as the same may
be updated in Part II, Item 1A, “Risk Factors” in any Quarterly
Report on Form 10-Q filed by PAVmed after its most recent Annual
Report. PAVmed disclaims any intention or obligation to publicly
update or revise any forward-looking statement to reflect any
change in its expectations or in events, conditions, or
circumstances on which those expectations may be based, or that may
affect the likelihood that actual results will differ from those
contained in the forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20211007005334/en/
Investors Lisa DeScenza
LaVoieHealthScience (617) 351-0243
ldescenza@lavoiehealthscience.com
Media Katie Gallagher / Kristi
Bruno LaVoieHealthScience (617) 792-3937 / (617) 865-3940
PAVmed@lavoiehealthscience.com
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