Panelists discussed Veris’ vision and strategy
to transform cancer care and join the current digital health
revolution
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 participants on October 26, 2021. The event, Veris Heath:
Bringing Digital Health to Cancer Care, focused on PAVmed’s digital
health subsidiary Veris Health (“Veris”).
The event recording and presentation deck are now available for
viewing.
The panelists provided a comprehensive overview of Veris’
disruptive technology, vision, business model, and strategy. They
discussed how PAVmed’s entry into the digital health sector fits
within its broader long-term growth strategy and how Veris seeks to
utilize the first intelligent implantable vascular access port with
biologic sensors to facilitate and optimize cancer care through
remote patient monitoring and data analytics. Panelists
included:
Lishan
Aklog, MD
PAVmed Chairman & Chief Executive
Officer
Veris Executive Chairman
James D.
Mitchell, MD
PAVmed VP, Digital Health
Veris Chief Medical Officer
Sumit
Shah, MD, MPH
Veris Medical Advisory Board Member
Director of Clinical Innovation &
Digital Health, Division of Oncology, Stanford Cancer Institute,
Stanford Health Care
Clinical Assistant Professor,
Medicine-Oncology, Member, Stanford University School of
Medicine
Timothy E.
Baxter
PAVmed Board of Directors
Former President & CEO of Samsung
Electronics North America
Sunny
Webb
PAVmed VP, Data & Analytics
Veris Chief Technology Officer
The event concluded with a moderated question and answer
session, which provided the attendees the opportunity to interact
with the panelists.
Veris, a majority-owned subsidiary of PAVmed, acquired Oncodisc
Inc., a digital health company with groundbreaking tools to improve
personalized cancer care in May 2021. Veris is developing a remote
cancer care platform that integrates an intelligent implantable
vascular access port with physiologic sensing, software with
symptom reporting and telehealth functions, as well as advanced
data analytics. Veris’ groundbreaking vascular access port contains
biologic sensors capable of generating continuous data on key
physiologic parameters known to predict adverse outcomes in cancer
patients undergoing treatment. Wireless communication to the
patient’s smartphone and Veris’ cloud-based digital healthcare
platform will deliver actionable real time data to patients and
physicians efficiently and effectively. Veris is targeting FDA
510(k) clearance of the intelligent implantable vascular access
port and launch of the remote digital healthcare platform for
H2-2022.
“We have about 20% of the U.S. economy, which is what healthcare
represents, finally leveraging digital tools that have been long
available in other sectors,” said Lishan Aklog, MD, PAVmed’s
Chairman and Chief Executive Officer and Veris’ Executive Chairman.
“The Veris technology…offers data-driven risk management tools for
precision oncology, and incorporates additional prospects for
substantial value-creation through data monetization and
biotherapeutic clinical trial support.”
James Mitchell, MD, PAVmed’s VP, Digital Health and Veris’ Chief
Medical Officer noted, “today’s aggressive outpatient cancer
treatments, including immunotherapy and chemotherapy, leave
patients unmonitored and at risk of serious, avoidable
complications, leading to high rates of hospitalization, poor
patient quality of life, and increasing health system costs. Every
year in the United States there are about 1.5 million unplanned
hospital admissions in cancer patients…[which] cost up to $70,000
per patient on average. We also know through cancer research that
19-50% of these hospitalizations are potentially preventable with
appropriate timely outpatient interventions.”
“If we look at other solutions…there is no solution that really
checks all the boxes—providing the uninterrupted data needed for
true patient care, that tucks easily into the existing workflow,
leverages existing reimbursement, and really takes advantage of
telemedicine technology,” said Dr. Mitchell.
“When I first heard about Veris Health I was impressed by their
big vision to make a measurable impact on cancer care,” said Sunny
Webb, PAVmed’s VP, Data & Analytics and Veris’ Chief Technology
Officer. “Like many of you, I have had people close to me that have
battled cancer…Applying data science to cancer care is a world
changer for future generations. Treatment has come a long way in
recent years, but we can do better. I’m certain that Veris has the
right approach…to build an integrated digital health care platform
that will help millions of cancer patients and their
oncologists.”
“Veris is fundamentally a healthcare-oriented tech platform that
uses smart devices,” said Timothy E. Baxter, a member of PAVmed’s
Board of Directors and former President & CEO of Samsung
Electronics North America. “[In the tech sector] we are moving
from…what some might call ‘dumb’ products to now ‘smart’ devices
and ‘smart’ solutions…The growth we have seen is quite
remarkable…driven by a host of new technologies…it’s AI, it’s 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.”
Recently, Veris entered into a global program relationship with
Microsoft, and engaged with leading full-service Silicon
Valley-based full-stack software development firm Loka Inc. to
build its remote digital healthcare platform.
About PAVmed and Veris
PAVmed Inc. is a highly differentiated, multi-product,
commercial-stage medical technology company with a diversified
product pipeline addressing unmet clinical needs encompassing a
broad spectrum of clinical areas with attractive regulatory
pathways and market opportunities. Its major subsidiary, Lucid
Diagnostics Inc., markets the first and only commercial tools for
widespread early detection of esophageal precancer and cancer – the
EsoGuard® Esophageal DNA Test and EsoCheck® Esophageal Cell
Collection Device. Its GI Health division also includes the
complementary EsoCure™ Esophageal Ablation Device with Caldus™
Technology. Another major subsidiary, Veris Health Inc., is a
digital health company developing the first intelligent implantable
vascular access port with biologic 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 Set), and Emerging Innovations (non-invasive
laser-based 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.
Forward-Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward-looking statements are
statements that are not historical facts. Such forward-looking
statements, based upon the current beliefs and expectations of
PAVmed’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, the ability to complete the initial
public offering of Lucid; volatility in the price of PAVmed’s
common stock, Series W Warrants and Series Z Warrants; general
economic and market conditions; the uncertainties inherent in
research and development, including the cost and time required
advance PAVmed’s products to regulatory submission; whether
regulatory authorities will be satisfied with the design of and
results from PAVmed’s preclinical studies; whether and when
PAVmed’s products are cleared by regulatory authorities; market
acceptance of PAVmed’s products once cleared and commercialized;
our ability to raise additional funding 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
has been 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 effect on the Company’s
financial and operational results, to be dictated by, among other
things, the success of efforts to contain it and the impact of
actions taken in response. New risks and uncertainties may 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 PAVmed’s control. For a further list and
description of these and other important risks and uncertainties
that may affect PAVmed’s future operations, see Part I, Item IA,
“Risk Factors,” in PAVmed’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 PAVmed after its most recent Annual
Report. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211029005260/en/
Investors Lisa DeScenza
LaVoieHealthScience (617) 351-0243
ldescenza@lavoiehealthscience.com
Media Kristi Bruno
LaVoieHealthScience (617) 792-3937 / (617) 865-3940
PAVmed@lavoiehealthscience.com
PAVmed (NASDAQ:PAVMZ)
Historical Stock Chart
From Aug 2024 to Sep 2024
PAVmed (NASDAQ:PAVMZ)
Historical Stock Chart
From Sep 2023 to Sep 2024