ADDING MULTIMEDIA Lucid Diagnostics Appoints Suman Verma MD, PhD as Chief Scientific Officer

NEW YORK--(BUSINESS WIRE)-- Lucid Diagnostics Inc. (Nasdaq: LUCD) (“Lucid”) a commercial-stage, cancer prevention medical diagnostics company, and subsidiary of PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (“PAVmed”), today announced the appointment of highly accomplished molecular biologist Suman M. Verma, M.D., Ph.D. as Lucid’s Chief Scientific Officer and PAVmed’s VP, Molecular Diagnostics.

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Dr. Suman Verma appointed Chief Scientific Officer of Lucid Diagnostics (Photo: Business Wire)

“I am very pleased to welcome Dr. Verma to the Lucid Diagnostics team,” said Lishan Aklog M.D., Lucid’s Chairman and Chief Executive Officer. “In her role as VP of Genomic Services at our CLIA laboratory partner, ResearchDx, Dr. Verma played a central role in transferring the EsoGuard^® Esophageal DNA Test from the Case Western Reserve University research laboratory to a commercial laboratory setting, completing the CLIA validation process, and launching EsoGuard as a commercially available Laboratory Developed Test. We are so fortunate to have someone with such deep experience and expertise in cutting-edge molecular diagnostics techniques and technology, as well as intimate knowledge of all aspects of the EsoGuard assay, to serve as our Chief Scientific Officer.”

“I am excited to join this remarkable company and team, and I look forward to contributing to Lucid’s important mission of preventing deadly esophageal cancer,” said Dr. Verma. “I look forward to working with my Lucid colleagues, as well as our industry and academic partners to advance the underlying science of our assay, continually improve its performance, and expand our portfolio of molecular diagnostic tools in esophageal disease and beyond.”

Dr. Verma most recently served as VP, Research & Development at Irvine, CA-based Bridge Diagnostics, a National Molecular Laboratory focused on infectious disease and women’s health. Prior to that, over the previous decade, she served in various research scientist and senior executive roles at Irvine, CA-based ResearchDx, Inc. a leading contract diagnostics organization (CDO) for the biopharmaceutical and diagnostic industries and long-time CLIA laboratory partner of Lucid Diagnostics. As VP, Genomic Services she led the development and implementation of numerous molecular diagnostic assays using the full spectrum of cutting edge molecular biologic techniques and technologies. Dr. Verma earned her Ph.D. in Molecular Biology and completed a post-doctoral fellowship at the University of California Irvine, during which she performed and published on important research in breast cancer biology and targets for therapeutic intervention in breast cancer. Prior to immigrating to the U.S., Dr. Verma earned her medical degree at Maharishi Dayanand University in Rohtak, India, completed her internal medicine training at Civil hospital, Ballabgarh, India, and served as a staff physician active in clinical research in Faridabad, India.

About Lucid Diagnostics

Lucid Diagnostics Inc. (Nasdaq: LUCD) is a commercial-stage, cancer prevention medical diagnostics company, and subsidiary of PAVmed Inc. (Nasdaq: PAVM). Lucid is focused on the millions of patients with gastroesophageal disease (GERD), also known as chronic heartburn, who are at risk of developing esophageal precancer and cancer. Lucid’s EsoGuard^® Esophageal DNA Test, performed on samples collected in a brief noninvasive office procedure with its EsoCheck^® Esophageal Cell Collection Device, is the first and only commercially available diagnostic test capable of serving as a widespread screening tool to prevent cancer and cancer deaths through early detection of esophageal precancer in at-risk GERD patients. EsoGuard is commercialized in the U.S. as a Laboratory Developed Test (LDT). EsoCheck is commercialized in the U.S. as a 510(k)-cleared esophageal cell collection device. EsoGuard, used with EsoCheck, was granted FDA Breakthrough Device designation and is the subject of two large, actively enrolling, international multicenter clinical trials to support FDA PMA approval. Lucid is building a network of Lucid Test Centers where at-risk GERD patients can undergo the EsoCheck procedure for EsoGuard testing.

Forward-Looking Statements

This press release includes forward-looking statements. Forward-looking statements are any statements that are not historical facts. Such forward-looking statements, which are based upon the current beliefs and expectations of Lucid’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 Lucid’s common stock; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required advance Lucid’s products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from Lucid’s clinical and preclinical studies; whether and when Lucid’s products are cleared by regulatory authorities; market acceptance of Lucid’s products once cleared and commercialized; Lucid’s ability to raise additional funding as needed; and other competitive developments. In addition, Lucid has been monitoring the COVID-19 pandemic and the pandemic’s impact on Lucid’s businesses. Lucid expects the significance of the COVID-19 pandemic, including the extent of its effect on its financial and operational results, to be dictated by, among other things, the success of efforts to contain the pandemic and the impact of such efforts on Lucid’s businesses. All of these factors are difficult or impossible to predict accurately and many of them are beyond Lucid’s control. In addition, new risks and uncertainties may arise from time to time and are difficult to predict. For a further list and description of these and other important risks and uncertainties that may affect Lucid’s future operations, see Lucid’s registration statement on Form S-1 filed with the Securities and Exchange Commission. Lucid 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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