NEW YORK--(BUSINESS WIRE)--PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (the “Company” or “PAVmed”), a highly differentiated, multiproduct medical device company, today announced that it has named Shaun M. O’Neil to serve as its first Chief Commercial Officer. Mr. O’Neil will oversee all aspects of the domestic and international commercialization of PAVmed’s products including sales and marketing, clinician engagement and professional education. He will officially assume his role on July 23 reporting directly to Lishan Aklog, M.D., PAVmed’s Chairman and Chief Executive Officer.
“I am incredibly excited to welcome Shaun O’Neil to the PAVmed team,” said Dr Aklog. “As PAVmed approaches important regulatory and commercial milestones, the time has come to begin laying the foundation for our transition from a development-stage to a commercial-stage company. I am confident Shaun is the best person to lead this effort.
“Dr. Brian deGuzman, PAVmed’s Chief Medical Officer, Michael Glennon, our Vice Chairman, and I have been direct witnesses to Shaun’s industry savvy, leadership skills, vision, work ethic, professionalism and integrity since AngioDynamics first joined us in discussions that led to its acquisition of our first company, Vortex Medical, and its groundbreaking, life-saving AngioVac® device,” Dr Aklog continued. “AngioVac is a challenging device to commercialize, with multiple specialty call points and the need for intense clinical support. Shaun played a critical role in establishing a vision and plan for AngioVac’s commercialization and successfully executed on that plan with his team. We observed that he is equally as comfortable in the board room crafting strategy as he is in the trenches with his sales reps calling on physicians and hospitals to adopt a new, groundbreaking technology for the benefit of their patients. That professional versatility, drive to excel and commitment to patients aligns perfectly with our business model and company ethos.”
“I have watched with keen interest as this unique and disruptive company has made remarkable progress since its founding by a team that I learned to respect and admire over several years of working closely on the commercialization of AngioVac,” said Mr. O’Neil. “I am very excited to join PAVmed as it approaches the expected commercial launch of two highly innovative products with billion-dollar market opportunities. I enthusiastically accepted Dr. Aklog’s offer to join this highly accomplished team because I have been a true believer in its vision and business model since its inception, and because I believe the Company’s lead products have all the hallmarks of commercial blockbusters that will benefit many patients worldwide while creating significant value for PAVmed’s shareholders.
“I have spent a substantial part of my career providing physicians and their patients with less invasive and more cost-effective solutions for unmet clinical needs,” Mr. O’Neil added. “In CarpX and EsoCheck, I see two products with great potential to transform the care of patients with highly prevalent and debilitating or life-threatening conditions. PAVmed has the cash runway and streamlined business model that I believe will allow us to build tailored commercialization platforms for each product that will be ready to activate upon regulatory clearance.”
Mr. O’Neil brings to PAVmed more than 15 years of sales and marketing leadership, and product and business development expertise in both startup and established companies, including a particularly strong track record in growing sales and increasing market share for innovative medical devices. Since 2011, Mr. O’Neil has held various sales and marketing leadership positions with AngioDynamics (Nasdaq: ANGO), a leading provider of innovative medical devices used by interventional radiologists, interventional cardiologists, surgeons, and other physicians for the minimally-invasive diagnosis and treatment of cancer and peripheral vascular disease. Most recently he served as regional sales manager for its peripheral vascular division, where he oversaw multiple territory managers and clinical specialists. He was responsible for multiple product launches and was a perennial recipient of sales and performance awards. Prior to AngioDynamics, he served in various sales, marketing and engineering roles at Aycan Medical Systems, a privately-held medical imaging company.
Mr. O’Neil received a B.S. in management information systems from Alfred University and an M.B.A. from the Rochester Institute of Technology.
About PAVmed
PAVmed Inc. is a highly differentiated, multiproduct medical device company employing a unique business model designed to advance innovative products 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 pipeline strategy with a view to enhancing and accelerating value creation. PAVmed’s diversified pipeline of products address unmet clinical needs encompassing a broad spectrum of clinical areas with attractive regulatory pathways and market opportunities. Its three lead products provide groundbreaking approaches to carpal tunnel syndrome (CarpX™), precancerous conditions of the esophagus (EsoCheck), vascular access (PortIO™) and pediatric ear infections (DisappEAR™). The company is also developing innovative products in other areas, such as medical infusions and tissue ablation, while seeking to further expand its pipeline through engagements with clinician innovators and leading academic medical centers. For further information, please visit www.pavmed.com.
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; 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 any of its products. 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 Reports 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.
