PAVmed, Novosound Partner on Ultrasound Imaging Technology

PAVmed Inc. has forged a license option and joint R&D agreement with Scottish venture-backed firm Novosound Ltd. to apply the latter company’s proprietary flexible thin-film ultrasound technology in medical imaging, initially targeting next-generation intravascular ultrasound (IVUS) imaging.
 
“Nearly all the advances in ultrasound imaging technology over the past several decades have focused on leveraging an explosion of computational power for digital image processing, along with novel configurations of otherwise decades-old, rigid, machined ceramic, piezoelectric sensors,” PAVmed Chairman/CEO Lishan Aklog, M.D., said. “The Novosound team has developed groundbreaking technology whereby the piezoelectric material is lithographically ‘printed’ on a flexible thin-film substrate and have proven the technology’s applicability in a commercially successful industrial application.”

Under the terms of the agreement, PAVmed and Novosound will collaborate on a joint R&D project to determine whether Novosound’s proprietary technology can be incorporated into an intravascular ultrasound catheter, producing cross-sectional images of vascular structures using high-resolution, low-cost, miniaturized ultrasound two-dimensional arrays without the mechanical rotation of sensors that IVUS catheters have historically required. Upon achievement of certain development milestones, PAVmed will have the option to license Novosound’s technology for use in the commercialization of intravascular imaging products. Target specifications include order of magnitude improvements in image resolution and sensor manufacturing costs, offering the potential for a disposable product. PAVmed and Novosound already have an active partnership that seeks to apply Novosound’s ultrasound technology to PAVmed’s CarpX Minimally Invasive Device for carpal tunnel syndrome.
 
“We believe Novosound’s technology, which overcomes many of the limitations of conventional ultrasound, including the cost of high-frequency, high-resolution imaging, has the potential to be a once-in-a-generation breakthrough in ultrasonic medical imaging,” Aklog added. “We are excited to join forces with Novosound to explore applying their technology in medical imaging, initially targeting the intravascular ultrasound catheter market. This partnership is a testament to our ongoing commitment to seek out and make modest investments in innovative technologies with large market opportunities while continuing to drive commercialization of our Lucid and Veris product lines.”
 
“The PAVmed team has a strong track record of innovation and delivering commercial-stage medical technologies,” Novosound Co-Founder/CEO Dave Hughes stated. “They are the ideal partners for Novosound as we increasingly gain traction in the international healthcare sector.”
 
PAVmed Inc. is a diversified commercial-stage medical technology company operating in the medical device, diagnostics, and digital health sectors. Its majority-owned subsidiary, Lucid Diagnostics Inc., is a commercial-stage cancer prevention medical diagnostics company that markets the EsoGuard Esophageal DNA Test and EsoCheck Esophageal Cell Collection Device—the first and only commercial tools for widespread early detection of esophageal precancer. PAVmed’s other majority-owned subsidiary, Veris Health Inc., is a digital health company focused on enhanced personalized cancer care through remote patient monitoring using implantable biologic sensors with wireless communication along with a custom suite of connected external devices. PAVmed’s product pipeline also includes the CarpX Minimally Invasive Device, EsoCure Esophageal Ablation Device with Caldus Technology, and PortIO Implantable Intraosseous Vascular Access Device, as well as other earlier-stage technologies.