Pavmed announced today that it executed a non-binding letter of intent to license endoscopic esophageal imaging technology from Duke University.
Through a newly formed subsidiary, Pavmed licensed the technology designed to identify and facilitate treatment of advanced esophageal precancer (dysplasia) during upper endoscopy. It features a multi-modality probe combining angle-resolved low coherence interferometry (a/LCI) with optical coherence tomography (OCT).
Pavmed believes this technology could allow for a more efficient and effective alternative to traditional biopsies.
Dr. Nicholas Shaheen and Adam Wax developed the a/LCI technology. Shaheen says the technology could “fundamentally transform” the diagnosis and treatment of esophageal precancer. Additionally, Shaheen claims it has the potential to improve outcomes, procedural efficiency and resource utilization.
Previous clinical research demonstrated that a/LCA can accurately detect precancerous changes in the esophagus during live examinations with 100% sensitivity and overall accuracy of 88% when used alone. A more recent pilot study using integrated a/LCI and OCT technology showed comparable sensitivity and improved specificity.
Under the terms of the licensing deal, Pavmed, through its new subsidiary, receives the exclusive worldwide license for the intellectual property rights of the a/LCI+OCT technology. This adds to the company’s existing esophageal offerings through its Lucid Diagnostics subsidiary. Lucid develops the EsoGuard esophageal DNA test.
“We are delighted to partner on this endoscopic imaging technology and look forward to the opportunity to advance its commercialization,” said Pavmed chair and CEO Dr. Lishan Aklog. “Widespread EsoGuard adoption is expected to significantly increase the number of patients diagnosed with esophageal precancer. The exceptional performance of this technology to date promises to make the evaluation and treatment of these patients more streamlined, timely, and effective in preventing progression to cancer. Its significant clinical and commercial potential should attract strong interest from strategics active in the endoscopic ablation space. The venture fits seamlessly within Pavmed’s corporate structure of independently financeable subsidiaries operating under a shared services infrastructure and builds on the successful academic medical center partnership model that launched Lucid. It is especially compelling as it leverages the unmatched expertise in esophageal precancer across Pavmed and Lucid.”
