Pavmed adds EVP to CMO deGuzman’s title
Dr. deGuzman was a founding member of Pavmed, joined by Drs. Lishan Aklog and Michael Glennon. The trio was also behind Pavilion Medical Innovations, a medical device incubator built around a faster, low-cost development plan. Pavilion spun out Vortex Medical, acquired for $55 million in 2012 by AngioDynamics (NSDQ:ANGO), and Saphena Medical, which in March raised a $1.3 million round for its device to harvest veins for coronary artery bypass grafting
Pavilion also created Kaleidoscope Medical, which is developing a reversible inferior vena cava filter, and Cruzar Medsystems and its Houdini peripheral chronic total occlusion device. All 4 companies raised just $1.5 million to $3.5 million and “rapidly advance their products,” according to Pavmed’s original filing last year.