NEW YORK--(BUSINESS WIRE)--PAVmed Inc. (Nasdaq:PAVM, PAVMW), a highly differentiated, multi-product medical device company, today announced the closing of approximately $1.0 million in additional financing, bringing the aggregate gross proceeds of our private placement to $2.5 million. The private placement consists of shares of Series A Convertible Preferred Stock and Series A Warrants. The initial closing was previously announced in February.

Dr. Lishan Aklog, Chairman and CEO of PAVmed, stated, “Investor interest in our Company continues to be very strong. Robust demand has enabled us to engage in a deliberate process focused on bringing in long-term and value-added investors. We feel extremely fortunate to have the opportunity to be highly selective as we continue to build our shareholder base.”

PAVmed employs a unique business model designed to advance products from concept to commercialization much more rapidly and with significantly less capital than traditional medical device companies. This model enables its multi-product pipeline strategy. Its initial two products, PortIOTM and CarpXTM, have meaningful milestones in the coming months and possess combined addressable market opportunities in excess of $1 billion dollars.

Dr. Aklog added, “We remain highly focused on building shareholder value. We are confident that our recent product developments, as well as our financing and capitalization initiatives, have the potential to deliver such value creation.”

About PAVmed Inc.

PAVmed Inc. (Nasdaq:PAVM, PAVMW) is a highly differentiated, multi-product medical device company employing a unique business model designed to advance products from concept to commercialization much more rapidly and with significantly less capital than the typical medical device company. This proprietary model enables PAVmed to pursue an expanding multi-product pipeline strategy with a view to enhancing and accelerating value creation. PAVmed’s diversified pipeline of products address unmet clinical needs, have attractive regulatory pathways and market opportunities and encompass a broad spectrum of clinical areas including carpal tunnel syndrome (CarpX™), medical infusions (NextFlo™ and NextCath™), interventional radiology (PortIO™ and NextCath), tissue ablation and cardiovascular intervention (Caldus™) and pediatric ear infections (DisappEAR™). For further information, please visit www.pavmed.com.