PAVmed Partners with Novosound on Ultrasound Imaging Technology
2022年12月22日 - 10:25PM
ビジネスワイヤ(英語)
License option and joint R&D agreement seek
to apply Novosound’s groundbreaking flexible thin-film ultrasound
technology to intravascular imaging
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (“PAVmed”), a
diversified commercial-stage medical technology company, operating
in the medical device, diagnostics, and digital health sectors,
today announced that it has entered into a license option and joint
research and development agreement with Novosound Ltd.
(“Novosound”), a venture-backed technology company based in
Glasgow, Scotland, to explore applying Novosound’s proprietary
flexible thin-film ultrasound technology in medical imaging,
initially targeting next-generation intravascular ultrasound (IVUS)
imaging.
“Nearly all of the advances in ultrasound imaging technology
over the past several decades have focused on leveraging an
explosion of computational power for digital image processing,
along with novel configurations of otherwise decades-old, rigid,
machined ceramic, piezoelectric sensors,” said Lishan Aklog, M.D.,
PAVmed’s Chairman and Chief Executive Officer. “The Novosound team
has developed groundbreaking technology whereby the piezoelectric
material is lithographically ‘printed’ on a flexible thin-film
substrate and have proven the technology’s applicability in a
commercially successful industrial application.”
“We believe Novosound’s technology, which overcomes many of the
limitations of conventional ultrasound, including the cost of
high-frequency, high-resolution imaging, has the potential to be a
once-in-a-generation breakthrough in ultrasonic medical imaging,”
Dr. Aklog added. “We are excited to join forces with Novosound to
explore applying their technology in medical imaging, initially
targeting the intravascular ultrasound catheter market. This
partnership is a testament to our ongoing commitment to seek out
and make modest investments in innovative technologies with large
market opportunities while continuing to drive commercialization of
our Lucid and Veris product lines.”
“The PAVmed team has a strong track record of innovation and
delivering commercial-stage medical technologies,” said Dave
Hughes, Chief Executive Officer and co-founder of Novosound. “They
are the ideal partners for Novosound as we increasingly gain
traction in the international healthcare sector.”
Under the terms of the agreement, PAVmed and Novosound will
collaborate on a joint research and development project to
establish that Novosound’s proprietary technology can be
incorporated into an intravascular ultrasound catheter, producing
cross-sectional images of vascular structures using
high-resolution, low-cost, miniaturized ultrasound two-dimensional
arrays without the mechanical rotation of sensors that IVUS
catheters have historically required. Upon achievement of certain
development milestones, PAVmed will have the option to license
Novosound’s technology for use in the commercialization of
intravascular imaging products. Target specifications include order
of magnitude improvements in image resolution and sensor
manufacturing costs, offering the potential for a disposable
product. PAVmed and Novosound already have an active partnership
that seeks to apply Novosound’s ultrasound technology to PAVmed’s
CarpX® Minimally Invasive Device for Carpal Tunnel Syndrome.
About PAVmed
PAVmed Inc. is a diversified commercial-stage medical technology
company operating in the medical device, diagnostics, and digital
health sectors. Its majority-owned subsidiary, Lucid Diagnostics
Inc. (Nasdaq: LUCD), is a commercial-stage cancer prevention
medical diagnostics company that markets the EsoGuard® Esophageal
DNA Test and EsoCheck® Esophageal Cell Collection Device—the first
and only commercial tools for widespread early detection of
esophageal precancer to prevent esophageal cancer deaths. PAVmed’s
other majority-owned subsidiary, Veris Health Inc., is a digital
health company focused on enhanced personalized cancer care through
remote patient monitoring using implantable biologic sensors with
wireless communication along with a custom suite of connected
external devices. PAVmed’s product pipeline also includes the
CarpX® Minimally Invasive Device for Carpal Tunnel Syndrome,
EsoCure™ Esophageal Ablation Device with Caldus™ Technology, and
PortIO™ Implantable Intraosseous Vascular Access Device, as well as
other earlier-stage technologies. For more information on PAVmed,
please visit PAVmed.com and follow PAVmed on Twitter, LinkedIn, and
YouTube.
Forward-Looking Statements
This press release includes forward-looking statements that
involve risk and uncertainties. Forward-looking statements are any
statements that are not historical facts. Such forward-looking
statements, which are 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; general economic and market
conditions; the 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 of and results from PAVmed’s clinical and
preclinical studies; whether and when PAVmed’s products are cleared
by regulatory authorities; market acceptance of PAVmed’s products
once cleared and commercialized; PAVmed’s ability to raise
additional funding as needed; and other competitive developments.
In addition, PAVmed has been monitoring the COVID-19 pandemic and
the pandemic’s impact on PAVmed’s businesses. PAVmed expects the
significance of the COVID-19 pandemic, including the extent of its
effect on its financial and operational results, to be dictated by,
among other things, the success of efforts to contain the pandemic
and the impact of such efforts on PAVmed’s businesses. These
factors are difficult or impossible to predict accurately and many
of them are beyond PAVmed’s control. In addition, new risks and
uncertainties may arise from time to time and are difficult to
predict. 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 1A, “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/20221222005270/en/
Investors and Media Adrian K.
Miller PAVmed Inc. AKM@PAVmed.com
PAVmed (NASDAQ:PAVMZ)
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