Stanley Lapidus, Founder and Former Chairman & CEO of Exact Sciences, Joins PAVmed Subsidiary Lucid Diagnostics as Vice Chairman of its Board of Directors
July 28 2021 - 8:30AM
Business Wire
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (the “Company” or
“PAVmed”), a highly differentiated, multi-product, commercial-stage
medical technology company, today announced that medical
diagnostics pioneer Stanley N. Lapidus, founder and former Chairman
and CEO of Exact Sciences (Nasdaq: EXAS), has joined its majority
owned subsidiary Lucid Diagnostics Inc. (“Lucid”) as Vice Chairman
of Lucid’s Board of Directors.
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Stanley Lapidus, founder and former
Chairman & CEO of Exact Sciences, joins PAVmed subsidiary Lucid
Diagnostics as Vice Chairman of its Board of Directors (Photo:
Business Wire)
“I am honored to welcome Stan Lapidus to Lucid’s Board of
Directors,” said Lishan Aklog, M.D., PAVmed’s Chairman and Chief
Executive Officer and Lucid’s Executive Chairman. “Stan has long
been a leading figure in the medical diagnostics industry and is
one of its most accomplished innovators in the early detection of
cancer—innovations which have prevented countless deaths from
cervical and colon cancer. Over the past year, Stan has made
invaluable contributions as Lucid’s lead strategic advisor,
including helping us craft several key strategic initiatives
currently underway. I look forward to working with him even more
closely in his new role as Vice Chairman, as Lucid seeks to execute
on its long-term growth strategy.”
“My primary professional quest, over more than three decades,
has been to save lives through the early detection of precancer and
cancer. I am joining the Lucid team because they are on that very
same quest—to prevent deaths from esophageal cancer as we have done
for cervical and colon cancer,” said Mr. Lapidus. “EsoGuard, which
was co-developed by a long-time colleague, collaborator and
renowned cancer geneticist, Dr. Sandy Markowitz, has the
opportunity to serve as a widespread screening tool to detect
esophageal precancer in at-risk GERD patients. If you detect the
precancer, you can remove or kill it and prevent its progression to
cancer. By preventing cancer, you can save lives. This is the Lucid
formula.”
Mr. Lapidus is a medical diagnostics pioneer who brings more
than three decades of experience founding, leading, and advising
breakthrough diagnostic companies, including founding and leading
two of the most successful cancer early detection startup companies
in history. He founded and served as President of Cytyc Inc., whose
ThinPrep® Pap test technology, which he invented, revolutionized
early cervical cancer detection. Cytyc was acquired by Hologic Inc.
in 2007. He also founded and served as President & CEO, and
later as Chairman, of Exact Sciences, whose Cologuard® stool DNA
test has revolutionized early detection of colorectal cancer.
Mr. Lapidus also serves as Chairman of the boards of directors
of Binx Health, a provider of point-of-care diagnostics tests;
Mirvie, a maternal-fetal health diagnostic company; Mercy
Bioanalytics, which is developing early cancer detection tests
based on exosomes; and Droplet Biosciences, which is developing
technology for detecting early recurrence of cancer. He also serves
as a member of the boards of directors of Glympse Bio, which uses
bioengineered sensors to track disease activity, and PathAI, an
AI-based pathology company. Mr. Lapidus also serves as an
Executive-in-Residence at the University of Colorado Anschutz
Medical Campus, and as a Co-Founding Pillar of Pillar VC. He
previously served as co-founder, President and Chief Executive
Officer of SynapDx, a diagnostic company focused on laboratory
tests for autism, and Helicos BioSciences Corp., a DNA sequencing
company. He holds 37 US patents. Mr. Lapidus received his B.S. in
Electrical Engineering from the Cooper Union in New York City. He
has served as an instructor at the Massachusetts Institute of
Technology and was elected as a Fellow of the American Institute of
Medical and Biological Engineering.
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/20210728005556/en/
Investors Mike Havrilla Director of
Investor Relations (814) 241-4138 JMH@PAVmed.com
Media Shaun O’Neil Chief Commercial
Officer (619) 881-0370 SMO@PAVmed.com
Kristi Bruno / Katie Gallagher LaVoieHealthScience (617)
865-3940 / (617) 792-3937 PAVmed@lavoiehealthscience.com
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