PAVmed and Subsidiary Veris Health Complete Private Placement Financing
Summary
The financing supplements a recently secured $1.8 million non-dilutive two-year NIH grant and will fund development of Veris implantable physiological monitor. "This financing marks an important milestone which will allow Veris Health to advance its commercial strategy, including regulatory clearance and launch of its implantable physiological monitor," said Lishan Aklog, M.D., Chairman and CEO of PAVmed and Executive Chairman of Veris Health. The platform seeks to offer enhanced personalized cancer care through the early detection of complications, reduced unplanned hospitalizations, the provision of longitudinal trends of physiological and clinical data, data-driven risk management tools, and increased patient and provider satisfaction.Cancer patients enrolled on the platform receive a VerisBox of Veris-branded connected health care devices which transmit physiologic data to the cloud-based clinician portal via an embedded cellular connection. The implantable monitor will further enhance the clinical and commercial value of the platform by providing remote physiologic data independent of patient compliance.Cancer centers and oncology centers interested in learning more about Veris and the Veris Platform, please visit www.verishealth.com to contact a company representative.PAVmed Inc. is a diversified commercial-stage medical technology company operating in the medical device, diagnostics, and digital health sectors. PAVmed 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.