Lucid Diagnostics Secures $22 Million Funding to Revolutionize Cancer Prevention through Esophageal DNA Testing

Lucid Diagnostics Inc. (Nasdaq: LUCD), a pioneering leader in cancer prevention medical diagnostics and a subsidiary of PAVmed Inc. (Nasdaq: PAVM), has successfully raised $22 million in funding to further its mission of combating esophageal cancer. This strategic investment will bolster Lucid’s vital work in addressing the needs of the millions of Americans suffering from gastroesophageal disease (GERD), a condition that significantly heightens the risk of developing esophageal precancer and cancer. At the forefront of Lucid's innovative approach is the EsoGuard® Esophageal DNA Test, which stands out as the first and only commercially available diagnostic tool that serves as a widespread screening option for early detection of esophageal precancer among at-risk GERD patients. The non-invasive test is performed using the EsoCheck® Esophageal Cell Collection Device, marking a significant advancement in the field of early cancer detection. The recent funding will support the expansion of Lucid's network of Test Centers, where patients can conveniently access the EsoCheck procedure and, subsequently, the EsoGuard testing. Additionally, this capital will facilitate the ongoing clinical trials aimed at securing FDA Premarket Approval (PMA) for the breakthrough diagnostic tests. With Lucid's commitment to lowering cancer incidence and mortality through proactive screening, this funding will play a crucial role in advancing their groundbreaking work and ensuring that lifesaving diagnostics are accessible to those who need them most.