PAVmed Subsidiary Veris Health Completes $2.5 Million Direct Equity Financing

Core Insights - PAVmed Inc. completed a private placement equity financing for its subsidiary Veris Health, raising $2.5 million at a pre-money valuation of approximately $35 million [1][2][3] Group 1: Financing Details - Veris Health sold shares at $1.40 per share, with proceeds aimed at advancing its implantable physiological monitor through FDA clearance expected in 2026 [2][3] - The financing follows a previous $2.4 million round completed earlier in the year, indicating ongoing investor interest and confidence in Veris Health's potential [1][2] Group 2: Product and Technology - Veris Health focuses on personalized cancer care through remote patient monitoring using implantable biologic sensors and connected external devices [2][4] - The Veris Cancer Care Platform integrates remote physiological data collection, symptom reporting, telehealth capabilities, and electronic health record integration to enhance patient care [4][5] Group 3: Strategic Importance - The financing is seen as a significant milestone for both PAVmed and Veris, providing necessary capital to fund the development and commercialization of the implantable physiological monitor [3][4] - The monitor is expected to serve as a key differentiator in the market, enhancing personalized care in conjunction with the Veris Cancer Care Platform [3][5]