Lucid Diagnostics Signs Memorandum of Understanding with Front Line Mobile Health

Rhea-AI Summary

Lucid Diagnostics (Nasdaq: LUCD) has signed a memorandum of understanding (MOU) with Front Line Mobile Health to enhance early detection of esophageal cancer in firefighters. The collaboration aims to expand patient access to Lucid's EsoGuard® Esophageal DNA test through co-marketing initiatives. Firefighters face a 62% higher risk of developing esophageal cancer, making this partnership important for their health and safety.

The MOU builds on Lucid's previous collaboration with Front Line, which facilitated a major #CheckYourFoodTube Precancer Testing Event. By leveraging Front Line's resources and expertise in caring for firefighters, Lucid aims to increase access to esophageal precancer testing and drive revenue through contracted high-volume testing events.

Positive

• Potential for increased revenue through high-volume testing events
• Expansion of market reach to firefighters, a high-risk group for esophageal cancer
• Strategic partnership with Front Line Mobile Health to enhance distribution and marketing

Negative

• None.

Collaboration aims to enhance early detection of esophageal cancer in at-risk patients through strategic co-marketing initiatives serving firefighters

NEW YORK, Sept. 3, 2024 /PRNewswire/ -- Lucid Diagnostics Inc. (Nasdaq: LUCD) ("Lucid" or the "Company") a commercial-stage, cancer prevention medical diagnostics company and subsidiary of PAVmed Inc. (Nasdaq: PAVM), today announced the execution of a memorandum of understanding (MOU) with Front Line Mobile Health ("Front Line"), a comprehensive medical care provider for first responders. The MOU focuses on the exploration of co-marketing and collaboration opportunities to promote and expand patient access to Lucid's EsoGuard^® Esophageal DNA test for the early detection of esophageal precancer, particularly among firefighters. Lucid previously collaborated with Front Line to facilitate its first major directly-contracted #CheckYourFoodTube Precancer Testing Event.

"Lucid Diagnostics is committed to widespread early detection of esophageal precancer," said Shaun O'Neil, Lucid's President and Chief Operating Officer. "We are honored to have provided EsoGuard precancer testing to thousands of firefighters across the nation. Every day they risk their lives to protect us, and Lucid is committed to protecting them in return. This partnership allows us to expand these efforts by leveraging Front Line's resources and extensive expertise caring for firefighters. We are excited to further collaborate with Front Line to increase access to esophageal precancer testing for firefighters and drive revenue through contracted high-volume testing events."

"At Front Line Mobile Health, we are deeply committed to protecting the health and safety of our nation's firefighters, who face a 62% higher risk of developing esophageal cancer," said Russell A. Burnham, APA-C, Front Line's Team Principal and Chief Executive Officer. "Lucid's EsoGuard Esophageal DNA Test is a powerful tool in this endeavor, offering early detection of esophageal precancer and thereby safeguarding the well-being of these brave individuals. We look forward to expanding our partnership with Lucid and leveraging our strong relationships with fire departments to broaden access to this potentially life-saving tool."

Front Line is a veteran-owned company that specializes in providing comprehensive medical care for first responders, including fire, law enforcement, and emergency medical services. Front Line is a leading platform in public safety health and wellness and is dedicated to focusing on physical, behavioral, and operational health through patient education, disease prevention, and operational optimization.

About Lucid Diagnostics
Lucid Diagnostics Inc. 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 reflux 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, represent the first and only commercially available tools designed with the goal of preventing cancer and cancer deaths through widespread, early detection of esophageal precancer in at-risk patients.

For more information, please visit www.luciddx.com and for more information about its parent company PAVmed, please visit www.pavmed.com.

Forward-Looking Statements
This press release includes forward-looking statements that involve risk and uncertainties. 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 to 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 continues to monitor the COVID-19 pandemic and the pandemic's impact on Lucid's businesses. 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 Part I, Item 1A, "Risk Factors," in Lucid'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 Lucid Diagnostics after its most recent Annual Report. 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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SOURCE Lucid Diagnostics

FAQ

What is the purpose of Lucid Diagnostics' partnership with Front Line Mobile Health?

The partnership aims to enhance early detection of esophageal cancer in firefighters by expanding access to Lucid's EsoGuard® Esophageal DNA test through co-marketing initiatives and high-volume testing events.

How much higher is the risk of esophageal cancer for firefighters compared to the general population?

According to the press release, firefighters face a 62% higher risk of developing esophageal cancer compared to the general population.

What is Lucid Diagnostics' stock symbol on Nasdaq?

Lucid Diagnostics trades on Nasdaq under the stock symbol LUCD.

What is the name of Lucid Diagnostics' esophageal precancer detection test?

Lucid Diagnostics' esophageal precancer detection test is called the EsoGuard® Esophageal DNA test.