Pavmed (NSDQ:PAVM) announced today that its Lucid Diagnostics subsidiary entered into an agreement to buy CapNostics.
Lucid Diagnostics, a wholly-owned subsidiary of Pavmed, entered into a definitive membership interest purchase agreement with Martin Von Dyck, the sole member and owner of North Carolina-based CapNostics, according to a news release.
CapNostics manufactures the FDA-cleared and CE-marked EsophaCap non-endoscopic esophageal cell collection device that has been used in pre-commercial clinical research of esophageal precancer biomarkers at major academic medical centers.
Lucid Diagnostics, which recently publicly filed a registration statement related to a proposed initial public offering (IPO), concurrently entered into an exclusive long-term consulting agreement with Von Dyck, as well as an exclusive long-term manufacturing agreement with the EsophaCap contract manufacturer.
Financial details of the acquisition were not disclosed. Read more