PAVmed Inc. Successfully Completes $2.37 Million Private Placement Financing for Cancer Care Innovations

PAVmed and Veris Health Achieve Historic Financing

PAVmed Inc. (Nasdaq: PAVM) recently completed a significant financial milestone, raising approximately $2.37 million through a private placement financing. This initiative is part of PAVmed's broader mission to innovate medical technology within the cancer care sector. The funds will be allocated to further develop their subsidiary, Veris Health Inc., and its advanced cancer care solutions.

Details of the Financing

The transaction was finalized on February 21, 2025, as outlined in PAVmed's Form 8-K submitted to the SEC. The financing included accredited investors acquiring PAVmed securities at market price and Veris common stock, which reflects a pre-money valuation of approximately $35 million. This funding, supplemented by a recent $1.8 million non-dilutive NIH grant, paves the way for the development of Veris Health’s innovative implantable physiological monitor.

Veris Health's Role in Cancer Care

Veris Health is committed to revolutionizing personalized cancer care through advanced technology. The company is enhancing the management of cancer patients by integrating remote patient monitoring capabilities using innovative biologic sensors and a suite of connected external devices. They have developed the Veris Cancer Care Platform, which enables comprehensive physiological data collection. This platform has integrated telehealth functionality and electronic health record systems, further streamlining the patient care process.

According to Lishan Aklog, M.D., Chairman and CEO of PAVmed, the financing signifies strong investor faith in Veris Health’s ability to improve cancer care. He stated, “We believe the Veris pre-money valuation reflects strong investor confidence in Veris' long-term commercial potential as it seeks to enhance personalized cancer care.”

Enhancing Patient Experience

The Veris Cancer Care Platform offers a holistic approach to patient care. Patients are provided with the VerisBox™, which consists of connected healthcare devices designed to transmit physiological data through a secure, cloud-based clinician portal. Using the Veris patient smartphone app, patients can report symptoms and health parameters directly to their care team, significantly enhancing communication and care efficiency. Additionally, family members can be invited to partake in the patient's care journey via the app, creating a more supportive environment.

Future Prospects

With the newly acquired funding, Veris Health is poised to advance its commercial strategy, which includes obtaining regulatory clearance for its implantable physiological monitor. This cutting-edge technology aims to provide continuous physiological data, independent of patient compliance, aimed at enhancing early detection of complications and ultimately improving patient outcomes.

The overall goal of these innovations is not only to reduce unplanned hospitalizations but to significantly enrich the quality of life for cancer patients by enabling real-time monitoring and proactive management of their health.

Furthermore, as PAVmed continues to operate in the medical device and diagnostics sectors, their commitment to innovation and patient care remains unwavering. With ongoing developments within Veris Health and the successful financial backing, stakeholders can look forward to promising advancements in cancer care technology.

For further insights on PAVmed or Veris Health, visit their official websites for more information.

Conclusion

As PAVmed and Veris move forward, this milestone serves as a critical step towards transforming cancer care through technology. Their progress will likely inspire other companies within the sector to pursue similar innovative practices, reaffirming the importance of investor confidence in fostering advancements that can have a profound impact on patient care and health outcomes.