Lucid Diagnostics, a subsidiary of Pavmed, files a registration statement for its IPO

Pavmed subsidiary (NSDQ: PAVM) Lucid diagnostics announced that Lucid has publicly filed a registration statement related to an Initial Public Offering (IPO) proposal.

The number of common shares and the price range of the offering have not yet been determined, according to a press release. Lucid Diagnostics intends to list its common shares on the Nasdaq market under the symbol “LUCD”.

Cantor Fitzgerald & Co. and Canaccord Genuity LLC will act as co-book managers for the proposed offering. BTIG, LLC and Needham & Co., LLC will act as co-leads of the proposed offering.

In February of this year, PavMed announced that Lucid would transform into a separate public company “if favorable market conditions continue to hold up, whether through an initial public offering (IPO) or a business combination with an acquisition company specializing in the health sector. “

At the time of the planned spin-off announcement, the companies said Lucid’s new business initiative will accelerate the commercialization of its EsoGuard technology by targeting multiple sales and marketing channels and creating a network of EsoCheck operators to ensure sufficient testing capacity and geographic coverage.

EsoCheck with “Collect and Protect Technology” is designed to provide a less invasive, more efficient and cost effective alternative to endoscopic biopsies when managing patients with eosinophilic esophagitis (EoE). PavMed sees it as a way to replace endoscopy with a non-invasive device for patients with a disease requiring multiple and frequent invasive endoscopies with biopsies.

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