PAVmed Appoints Joseph Virgilio to Lead Relaunched Medical Device Portfolio
Rhea-AI Summary
PAVmed (LUCD) appointed Joseph Virgilio as Senior Vice President and Chief Business Officer, Medical Devices, and relaunched its medical device portfolio on April 2, 2026. The company formed a new subsidiary, Octeris, and executed a definitive license with Duke University for multi-modality endoscopic esophageal imaging.
The portfolio includes the PortIO implantable intraosseous vascular access device and the Duke-licensed endoscopic imaging technology; Virgilio will also lead subsidiaries PortIO Inc. and Octeris Inc.
Positive
- Definitive license executed with Duke University for endoscopic esophageal imaging technology
- Octeris subsidiary formed to advance Duke-licensed imaging technology and sponsored research
- Senior hire: Joseph Virgilio brings >25 years of industry experience and commercialization track record
- Portfolio scope includes PortIO intraosseous vascular access device and multi-stage device assets
Negative
- None.
News Market Reaction – PAVM
In the Apr 2 session, PAVM declined 3.81%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 30 | Earnings and update | Positive | +13.0% | Q4/FY25 results plus capital raises and device portfolio relaunch details. |
| Mar 26 | Subsidiary earnings | Positive | -3.9% | Lucid Diagnostics revenue growth, VA contract, and clinical data update. |
| Mar 16 | Call announcement | Neutral | -0.1% | Scheduling PAVmed Q4/FY25 business update call and webcast. |
| Mar 12 | Call announcement | Neutral | -3.2% | Lucid Diagnostics Q4/FY25 business update call scheduling. |
| Feb 04 | Financing and recap | Positive | +7.2% | Series D preferred and senior secured note financings to strengthen liquidity. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Across the last five events, PAVM’s price reaction aligned with the news tone in 4 cases and diverged once, often responding positively to capital structure improvements and detailed business updates.
Over the past six months, PAVmed has focused on recapitalizing and repositioning the business. A $30M Series D preferred and $15M senior secured note financing on Feb 4, 2026 coincided with a 7.21% gain as it eliminated legacy convertibles. The Mar 30, 2026 Q4 2025 update, highlighting balance-sheet repair and a medical device relaunch, saw shares rise 13.03%. Conference-call scheduling headlines in mid-March had minor effects. Today’s leadership hire and portfolio relaunch build directly on that strategic shift toward a more focused medical device pipeline.
Key Terms
pre-market authorization (pma) regulatory
endoscopic medical
esophageal dysplasia medical
upper endoscopy medical
intraosseous medical
vascular access device medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Medtech industry veteran to oversee development and commercialization of PAVmed's current and future medical device portfolio.
Octeris, Inc. subsidiary formed to advance endoscopic esophageal imaging technology recently licensed from Duke University.
"Fixing PAVmed's capital structure and strengthening our balance sheet has allowed us to proceed with the long-anticipated relaunch our medical device portfolio under dedicated, experienced leadership," said PAVmed Chairman and Chief Executive Officer, Lishan Aklog, M.D. "We look forward to leveraging Mr. Virgilio's deep sector experience and leadership as we advance our existing medical device programs, while seeking to expand our pipeline with significant commercial opportunities which enhance long-term shareholder value. This relaunch is consistent with our mission to build a high-growth diversified commercial life sciences company with multiple independently financed subsidiaries operating under a shared services model."
Medical Device Leadership
Mr. Virgilio brings over 25 years of leadership experience across the medical device industry, with a track record of building and scaling medical technology businesses, advancing products from development through regulatory approval and commercialization, raising public and private capital, and establishing strategic partnerships.
Mr. Virgilio most recently served as President and Chief Executive Officer of Morphic Medical, a clinical-stage company in the gastrointestinal and metabolic intervention space. He led the company's commercial and operational strategy, advanced key regulatory initiatives including EU approvals and a
Mr. Virgilio has extensive prior experience building and scaling commercial organizations and driving adoption of innovative medical technologies at Amann Girrbach North America LP, Surgical Specialties Corporation (now Corza Medical Inc.), and Aptus Endosystems (acquired by Medtronic Inc.), as well as in earlier roles at Boston Scientific Inc. and Medtronic Inc. Mr. Virgilio has also served in industry-wide leadership roles on the Board of Directors of AdvaMed, the world's leading medical technology trade association, and its emerging company division, AdvaMed Accel.
"PAVmed has already established a strong foundation with its existing medical device programs, and I'm excited to build on that momentum," said Mr. Virgilio. "We have the opportunity to advance these assets while expanding the portfolio with additional high-quality opportunities. My focus will be on driving disciplined execution across the current portfolio, securing dedicated capital, advancing these programs toward key regulatory and commercial milestones, and continuing to build a diversified medical device portfolio through capital-efficient growth."
Relaunched Medical Device Portfolio
Under Mr. Virgilio's leadership, PAVmed's has relaunched its medical device portfolio spanning assets across development and commercialization stages.
The portfolio includes the Company's PortIO implantable intraosseous vascular access device, which is designed to enable rapid and reliable delivery of fluids, medications, and other therapeutics directly into the bone marrow cavity and central venous circulation.
The portfolio also includes multi-modality endoscopic imaging technology recently licensed from Duke University, designed to identify and facilitate treatment of esophageal dysplasia during upper endoscopy. PAVmed and Duke University recently executed a definitive license agreement for this technology, following a previously announced letter of intent, through a newly formed PAVmed subsidiary, Octeris, Inc., Octeris will support ongoing sponsored research with Duke University to advance the development and clinical application of the technology.
Mr Virgilio will serve as Chief Executive Officer of both subsidiaries—PortIO Inc. and Octeris Inc.
PAVmed is actively pursuing additional medical device opportunities across various subsectors, with a focus on those with synergies to existing assets, including promising gastroesophageal reflux-focused technologies.
About PAVmed and its Subsidiaries
PAVmed Inc. is a diversified commercial-stage medical technology company operating in the medical device, diagnostics, and digital health sectors. Its subsidiary, Lucid Diagnostics Inc. (NASDAQ: LUCD), is a commercial-stage cancer prevention medical diagnostics company that markets the EsoGuard® Esophageal DNA Test and EsoCheck® Esophageal Cell Collection Device—the first and only commercial tools for widespread early detection of esophageal precancer to mitigate the risks of esophageal cancer deaths. Its other subsidiary, Veris Health Inc., is a digital health company focused on enhanced personalized cancer care through remote patient monitoring using implantable biologic sensors with wireless communication along with a custom suite of connected external devices. Veris is concurrently developing an implantable physiological monitor, designed to be implanted alongside a chemotherapy port, which will interface with the Veris Cancer Care Platform.
For more and for more information about PAVmed, please visit pavmed.com.
For more information about Lucid Diagnostics, please visit luciddx.com.
For more information about Veris Health, please visit verishealth.com.
Forward-Looking Statements
This press release includes forward-looking statements that involve risk and uncertainties. Forward-looking statements are any statements that are not historical facts. Such forward-looking statements, which are 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; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required to advance PAVmed's products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from PAVmed's clinical and preclinical studies; whether and when PAVmed's products are cleared by regulatory authorities; market acceptance of PAVmed's products once cleared and commercialized; PAVmed's ability to raise additional funding as needed; and other competitive developments. These factors are difficult or impossible to predict accurately and many of them are beyond PAVmed's control. In addition, new risks and uncertainties may arise from time to time and are difficult to predict. 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 1A, "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 Report 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.
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SOURCE PAVmed Inc.