PAVmed acquires EsophaCap maker CapNostics LLC



NEW YORK–(COMMERCIAL THREAD) –PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (the “Company” or “PAVmed”), a highly differentiated, multi-product, commercial-stage medical technology company, today announced that a wholly owned subsidiary of the Company has entered into an interest purchase agreement definitive membership with Martin Von Dyck, the sole member and owner of North Carolina-based CapNostics, LLC, which manufactures EsophaCap®-a non-endoscopic esophageal cell collection device, US FDA 510 (k) cleared and European CE certified, which has been used in pre-commercial clinical research of esophageal precancerous biomarkers in leading academic medical centers. At the same time, the Company has entered into an exclusive long-term consulting agreement with Mr. Von Dyck, as well as an exclusive long-term manufacturing agreement with the subcontractor EsophaCap.

“Since entering this industry in 2018, PAVmed and its subsidiaries have aggressively sought to increase shareholder value by creating a fully integrated and expanding product portfolio that broadly addresses the early detection, surveillance and treatment of diseases of the esophagus, ”said Lishan Aklog, MD, PAVmed President and CEO. “Our main subsidiary, Lucid Diagnostics Inc., has focused on patients with gastroesophageal reflux disease (‘GERD’), also known as chronic heartburn, who are at risk of developing precancer and cancer. of the esophagus. We believe that Lucid’s EsoCheck remains the only non-invasive 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 diverse product portfolio addressing unmet clinical needs encompassing a wide range of clinical areas with attractive regulatory pathways and market opportunities. Its principal subsidiary, Lucid Diagnostics Inc., markets the first and only commercial tools for the widespread early detection of precancer and esophageal cancer – the EsoGuard® Esophageal DNA Test and the EsoCheck® Esophageal Cell Collection Device. . Its GI Health division also includes the complementary esophageal ablation device EsoCure â„¢ with Caldus â„¢ technology. Another major subsidiary, Veris Health Inc., is a digital health company developing the first smart implantable vascular access port with biological 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 â„¢ implantable intraosseous vascular access device and NextFlo â„¢ intravenous infusion kit) and Emerging Innovations (non-invasive laser blood 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. These forward-looking statements, based on the current beliefs and expectations of PAVmed’s management, are subject to risks and uncertainties, which could cause actual results to differ from forward-looking statements. The risks and uncertainties that may cause such differences include, among others, the ability to complete the initial public offering of Lucid; the volatility of the price of PAVmed common shares, Series W warrants and Series Z warrants; general economic and market conditions; uncertainties inherent in research and development, including the cost and time required to advance PAVmed’s products to regulatory submission; whether regulatory authorities will be satisfied with the design and results of the preclinical studies of PAVmed; if and when PAVmed’s products are authorized by regulatory authorities; market acceptance of PAVmed products once authorized and marketed; our ability to raise additional funds 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 is 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 effects on the Company’s financial and operating results, to be dictated, among other things, by the success of efforts to contain it and the impact of the measures taken in response. New risks and uncertainties can 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 the control of PAVmed. For a further list and description of these important risks and uncertainties that may affect PAVmed’s future operations, see Part I, Article IA, “Risk Factors”, in PAVmed’s most recent annual report on Form 10- K filed with the Securities and Exchange Commission as it 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 the events, conditions or circumstances on which such expectations may be based, or which may affect the likelihood that actual results differ from those contained in forward-looking statements.


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