PAVmed Subsidiary Lucid Diagnostics Launches Strategic Partnership with Direct-to-Consumer Telemedicine Company UpScriptHealth
22 Juli 2021 - 3:30PM
Business Wire
UpScriptHealth to provide telemedicine services
to evaluate consumers with chronic heartburn seeking early
esophageal precancer detection using Lucid’s EsoGuard test
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (the “Company” or
“PAVmed”), a highly differentiated, multi-product, commercial-stage
medical technology company, today announced that its major
subsidiary Lucid Diagnostics Inc. (“Lucid”) has entered into a
definitive agreement with UpScriptHealth (“UpScript”), a leading,
nationwide, direct-to-consumer telemedicine company. Pursuant to
the agreement, UpScript will support Lucid’s upcoming EsoGuard
Telemedicine Program by providing a Lucid-branded web-based
telemedicine platform for patients with chronic heartburn symptoms
to request video evaluation by a physician and, if clinically
indicated, referral for Lucid’s EsoGuard® Esophageal DNA Test
(“EsoGuard”).
“An important pillar of our growth strategy is to educate
consumers on the link between chronic heart burn and esophageal
cancer, and the availability of a simple, office-based test to
detect esophageal precancer before it progresses to esophageal
cancer,” said Lishan Aklog, M.D., PAVmed’s Chairman and Chief
Executive Officer and Lucid’s Executive Chairman. “We are excited
to partner with UpScript, which pioneered online healthcare
prescribing, to launch our EsoGuard Telemedicine Program, initially
in Arizona and eventually nationwide, to accommodate consumer
interest in EsoGuard testing. We believe, based on the experience
of other successful early cancer detection companies, that a such a
telemedicine program with direct-to-consumer engagement can
accelerate commercialization and become a key driver of long-term
growth.”
Millions of patients with chronic heartburn, also known as
gastroesophageal reflux disease (“GERD”), are at risk of developing
esophageal precancer and highly lethal esophageal cancer. EsoGuard
is a next-generation sequencing based DNA methylation assay
performed on esophageal cells collected using Lucid’s EsoCheck®
Cell Collection Device in a less-than five-minute office procedure.
Lucid believes EsoGuard and EsoCheck constitute the first and only
commercially available test capable of serving as a widespread
screening tool to prevent esophageal cancer deaths, through the
early detection of esophageal precancer in at-risk GERD
patients.
Lucid is in the process of launching a network of Lucid Test
Centers, initially in the Phoenix area, where patients can undergo
the EsoCheck procedure, performed by a trained Lucid clinician, to
collect cells for EsoGuard testing. The test centers will support
expansion of Lucid’s EsoGuard commercialization efforts beyond
gastroenterologists to include primary care physicians and
consumers. At-risk GERD patients who respond to Lucid’s
direct-to-consumer educational and marketing efforts will be
directed to participate in the EsoGuard Telemedicine Program. An
UpScript-managed telemedicine physician will perform a video
evaluation of the patient and, if clinically appropriate, refer the
patient to a Lucid Test Center to undergo the EsoCheck cell
collection procedure and EsoGuard testing on the collected sample.
The telemedicine physician will receive the EsoGuard test result
and arrange the appropriate follow-up care. After completing the
pilot program in Phoenix, Lucid intends to expand its Lucid Test
Centers and EsoGuard Telemedicine Program regionally in Western
U.S. states, and then nationwide.
About PAVmed and Lucid
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, 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/20210722005645/en/
Investors Mike Havrilla Director of
Investor Relations (814) 241-4138 JMH@PAVmed.com
Media Shaun O’Neil Chief Commercial
Officer (518) 812-3087 SMO@PAVmed.com
Kristi Bruno / Katie Gallagher LaVoieHealthScience (617)
865-3940 / (617) 792-3937 PAVmed@lavoiehealthscience.com
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