PAVmed Subsidiary Lucid Diagnostics’ EsoCheck Esophageal Cell Collection Device Receives Prestigious Edison Best New Product Award

NEW YORK, April 02, 2020 (GLOBE NEWSWIRE) -- PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (the “Company” or “PAVmed”), a highly differentiated, multiproduct medical device company, today announced that the EsoCheck Esophageal Cell Collection Device with Collect+Protect Technology, developed and marketed by its majority owned subsidiary Lucid Diagnostics Inc. (“Lucid”), was named a Silver winner of the 2020 Edison Best New Product Awards in the Medical/Dental category and Testing Solutions subcategory.

“After a thorough review, the Edison Awards judges recognize EsoCheck as a game-changing innovation standing out among the best new products and services launched in their category,” said Frank Bonafilia, Executive Director of the Edison Awards.

“We are honored that the Edison Awards has recognized EsoCheck as a game-changing innovation – placing it among the best new medical device products this year,” said Lishan Aklog, M.D., PAVmed’s Chairman and Chief Executive Officer and Lucid’s Executive Chairman. “We are proud to add this award to the list of recognitions Lucid’s products have received, including being highlighted as one of the year’s significant advances in cancer prevention by the National Cancer Institute in its 2020 Annual Plan and Budget Proposal submitted to Congress and receiving Breakthrough Device designation by the U.S. Food and Drug Administration (FDA).”

The Edison Awards (www.edisonawards.com), named after legendary innovator Thomas Alva Edison, is among the most prestigious industry accolades honoring excellence in new product and service development, marketing, design and innovation. Originally established in 1987, the Edison Awards have recognized and honored some of the most innovative products and business leaders in the world. Winners are chosen as the "best of the best" within their respective categories by a panel of over 3,000 leading business executives from around the world.

EsoCheck is an FDA 510(k)-cleared non-invasive cell collection device designed to sample cells from the esophagus in a five-minute office-based procedure, without the need for endoscopy – the only such device capable of doing so in an anatomically targeted fashion without sample dilution or contamination (EsoCheck animation). Patients swallow a vitamin pill-sized capsule containing a small inflatable balloon attached to a thin catheter. As the catheter is withdrawn, it swabs surface cells from the target area and protects them as the device is removed. The sampled cells can then be subjected to any commercially available diagnostic test, including Lucid’s EsoGuard Esophageal DNA Test, designed to facilitate the diagnosis of Barrett’s Esophagus (BE) and related conditions leading to and including highly lethal esophageal cancer. EsoCheck is also being evaluated, in collaboration with major academic medical centers, to assist in monitoring BE disease progression and in the diagnosis and management of Eosinophilic Esophagitis (EoE), a rapidly emerging allergy-mediated inflammatory condition of the esophagus similar to, and often associated with, inflammatory bowel disease (IBD).