PAVmed Subsidiary Veris Health Joins Microsoft for Startups Global Program and Engages Loka as Software Development Partner
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (the “Company” or “PAVmed”), a highly differentiated, multi-product, commercial-stage medical technology company, today announced that its major subsidiary Veris Health Inc. (“Veris”) has been accepted into Microsoft for Startups, a global program from Microsoft dedicated to accelerating the trajectory of startups. The Company also announced that Veris has entered into a definitive services agreement with leading full-service Silicon Valley-based full-stack software development firm Loka Inc. (“Loka”) to build its remote digital healthcare platform.
As a Microsoft for Startups program member, Veris will have access to Microsoft technology, mentorship and business support which will allow it to use Microsoft’s cloud storage, data analytics, and other technologies to rapidly build and deploy its platform with state-of-the-art, built-in redundancy and security. Loka will build the Veris platform on Microsoft Azure, which includes Azure AI & Machine Learning clinical analytics, Azure IoT patient monitoring, and numerous other cutting-edge healthcare focused products and services.
“We are honored that our new digital health subsidiary Veris Health is one of a select group of worldwide companies inducted into the Microsoft for Startups program,” said Lishan Aklog, M.D., PAVmed’s Chairman and Chief Executive Officer and Veris’ Executive Chairman. “We plan to fully leverage this relationship with Microsoft to assure that the Veris platform utilizes the most cutting-edge technologies to facilitate and optimize cancer care through remote patient monitoring and data analytics, including machine learning and artificial intelligence. In Loka, we have identified the ideal software development partner, with extensive experience in using these sophisticated tools in complex healthcare applications.”
“Today’s aggressive outpatient cancer treatments leave patients unmonitored while at risk of serious complications, leading to high rates of hospitalization, poor patient quality of life, and increasing health system costs,” said James Mitchell, M.D., PAVmed’s VP of Digital Health and Veris’ Chief Medical Officer. “Our technology is designed to allow oncologists to detect early signs of common cancer-related complications, provide longitudinal trends of physiologic and clinical data, offer data-driven risk management tools for precision oncology, and incorporate additional prospects for substantial value-creation through data monetization and biotherapeutic clinical trial support.”