NEW YORK – (BUSINESS WIRE) – October 29, 2021–
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (the “Company” or “PAVmed”), a highly differentiated, multi-product, commercial-stage medical technology company, hosted a virtual investor event with several hundred attendees on the 26th. October 2021. The event, Veris Heath: Bringing digital health to cancer care, focused on PAVmed’s digital health subsidiary, Veris Health (“Veris”).
The panelists provided a comprehensive overview of the disruptive technology, vision, business model and strategy of Veris. They explained how PAVmed’s entry into the digital health sector fits into its broader long-term growth strategy and how Veris seeks to use the first smart implantable vascular access port with biological sensors to facilitate and optimizing cancer care through remote patient monitoring and data analysis. Panelists included:
Chairman and CEO of PAVmed
Executive Chairman of Veris
PAVmed VP, Digital Health
Chief Physician of Veris
Shah, MD, MPH
Member of the Veris Medical Advisory Board
Director of Clinical Innovation and Digital Health, Division of Oncology, Stanford Cancer Institute, Stanford Health Care
Clinical Assistant Professor, Medicine-Oncology, Fellow, Stanford University School of Medicine
PAVmed Board of Directors
Former President and CEO of Samsung Electronics North America
PAVmed VP, data and analysis
Technical Director of Veris
The event ended with a moderated question-and-answer session, which allowed participants to interact with the panelists.
Veris, a majority-owned subsidiary of PAVmed, acquired Oncodisc Inc., a digital health company with revolutionary tools to improve personalized cancer care in May 2021. Veris is developing a cancer care platform at remote that incorporates a smart implantable vascular access port with physiological sensing, software with symptom reporting and telehealth functions, as well as advanced data analytics. Veris’ revolutionary vascular access port contains biological sensors capable of generating continuous data on key physiological parameters known to predict adverse outcomes in cancer patients undergoing treatment. Wireless communication with the patient’s smartphone and Veris’ cloud-based digital healthcare platform will deliver real-time actionable data to patients and physicians effectively and efficiently. Veris is targeting FDA 510 (k) clearance of the smart implantable vascular access port and the launch of the digital remote healthcare platform for H2-2022.
“We own roughly 20% of the US economy, which is healthcare, finally leveraging digital tools that have long been available in other industries,” said Lishan Aklog, MD, president and CEO of PAVmed and executive chairman of Veris. “Veris technology… provides data-driven risk management tools for precision oncology and incorporates additional perspectives for creating substantial value through data monetization and clinical trial support for biotherapeutics. “
James Mitchell, MD, vice president of PAVmed, Digital Health and medical director of Veris, said: “Today’s aggressive outpatient cancer treatments, including immunotherapy and chemotherapy, leave patients unattended and at risk of serious and preventable complications, leading to high rates of hospitalization, poor quality of life for patients and increased costs to the health system. Each year in the United States, there are approximately 1.5 million unplanned hospitalizations in cancer patients …[which] cost up to $ 70,000 per patient on average. We also know from cancer research that 19-50% of these hospitalizations are potentially preventable with appropriate and timely outpatient interventions. “
“If we look at other solutions… there is no one solution that really checks all the boxes – delivering the uninterrupted data needed for real patient care, which easily integrates into the existing workflow,” pulls builds on existing reimbursements and really takes advantage of telemedicine technology, ”Dr Mitchell said.
“When I first heard of Veris Health, I was impressed with their grand vision to have a measurable impact on cancer care,” said Sunny Webb, vice president, data and analytics of PAVmed and CTO of Veris. “Like many of you, I have had loved ones who have battled cancer… The application of data science to cancer care is changing the world for future generations. Treatment has come a long way in recent years, but we can do better. I’m sure Veris has the right approach… to create an integrated digital healthcare platform that will help millions of cancer patients and their oncologists.
“Veris is fundamentally a healthcare-driven technology platform that uses smart devices,” said Timothy E. Baxter, PAVmed board member and former president and CEO of Samsung Electronics North America . “[In the tech sector] we’re moving from… what some might call “dumb” products to “smart” devices and “smart” solutions… The growth we’ve seen is pretty remarkable… driven by a host of new technologies… it’s the AI is big data, it’s cloud, it’s 5G, IoT, VR / AR… When you combine these new technologies with relevant data… we are now creating new possibilities and disrupting old ones.
Recently, Veris has entered into a global program relationship with Microsoft, and engaged with Loka Inc., a leading full-service software development company based in Silicon Valley, to create its remote digital healthcare platform.
About PAVmed and Veris
PAVmed Inc. is a highly differentiated, multi-product, commercial-stage medical technology company with a diverse product portfolio addressing unmet clinical needs encompassing a wide range of clinical areas with attractive regulatory pathways and market opportunities. Its principal subsidiary, Lucid Diagnostics Inc., markets the first and only commercial tools for the widespread early detection of precancer and esophageal cancer – the EsoGuard® Esophageal DNA Test and the EsoCheck® Esophageal Cell Collection Device. . Its GI Health division also includes the complementary esophageal ablation device EsoCure ™ with Caldus ™ technology. Another major subsidiary, Veris Health Inc., is a digital health company developing the first smart implantable vascular access port with biological sensors and wireless communication to improve personalized cancer care through remote patient monitoring. . Its Minimally Invasive Interventions division markets its CarpX® minimally invasive device for carpal tunnel syndrome. Other divisions include infusion therapy (PortIO ™ implantable intraosseous vascular access device and NextFlo ™ intravenous infusion kit) and emerging innovations (non-invasive laser blood glucose monitoring, pediatric ear tubes and mechanical circulatory support) . For more information, please visit www.pavmed.com, follow us on Twitter, connect with us on LinkedIn and watch our videos on YouTube. For more information on our majority owned subsidiary, Lucid Diagnostics Inc., please visit www.luciddx.com, follow Lucid on Twitter, and connect with Lucid on LinkedIn. For detailed information on EsoGuard, please visit www.EsoGuard.com and follow us on Twitter, Facebook and Instagram.
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. These forward-looking statements, based on the current beliefs and expectations of PAVmed’s management, are subject to risks and uncertainties, which could cause actual results to differ from forward-looking statements. The risks and uncertainties that may cause such differences include, among others, the ability to complete the initial public offering of Lucid; the volatility of the price of PAVmed common shares, Series W warrants and Series Z warrants; general economic and market conditions; uncertainties inherent in research and development, including the cost and time required to advance PAVmed’s products to regulatory submission; whether regulatory authorities will be satisfied with the design and results of the preclinical studies of PAVmed; if and when PAVmed’s products are authorized by regulatory authorities; market acceptance of PAVmed products once authorized and marketed; our ability to raise additional funds and other competitive developments. PAVmed has not yet received clearance from the FDA or other regulatory body to market many of its products. The Company is monitoring the COVID-19 pandemic and its impact on our business. The Company expects the significance of the COVID-19 pandemic, including the extent of its effects on the Company’s financial and operating results, to be dictated, among other things, by the success of efforts to contain it and the impact of the measures taken in response. New risks and uncertainties can arise from time to time and are difficult to predict. All of these factors are difficult or impossible to predict accurately and many of them are beyond the control of PAVmed. For a more detailed list and description of these and other risks and uncertainties that may affect PAVmed’s future operations, see Part I, Article IA, “Risk Factors”, in the most recent PAVmed Annual Report. on Form 10-K filed with the Securities and Exchange Commission, as it may be updated in Part II, Item 1A, “Risk Factors” in any Quarterly Report on Form 10-Q filed by PAVmed after its report most recent annual. PAVmed disclaims any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in its expectations or in the events, conditions or circumstances on which such expectations may be based, or which may affect the likelihood that actual results differ from those contained in forward-looking statements.
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Lisa De Scenza
[email protected] Media
(617) 792-3937 / (617) 865-3940
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: BIOTECHNOLOGY PRACTICE MANAGEMENT TECHNOLOGY OTHER HEALTH HEALTH GENERAL HEALTH OTHER SCIENCE OTHER TECHNOLOGY MEDICAL DEVICES RESEARCH SCIENCE
SOURCE: PAVmed Inc.
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PUB: 10/29/2021 08:30 / DISC: 10/29/2021 08:32