Lishan Aklog, M.D., has been Chairman and Chief Executive Officer of PAVmed Inc. since its inception.
Dr. Aklog previously served as Chairman and Chief Technology Officer of Vortex Medical Inc., a PHG portfolio company, from its inception in 2008 until its acquisition in October 2012 by AngioDynamics Inc. (NASDAQ:ANGO) for $55 million.
Dr. Aklog is an inventor on 13 issued patents and over 30 patent applications, including the core patents of Vortex Medical’s AngioVac system and the patents for a majority of the company’s products.
In this exclusive 6,174 word interview, only in the Wall Street Transcript, Dr. Aklog details the current status of his company’s products and details the investment scenario for his company.
“Assuming that goes well, we will be in a position to have it cleared by the FDA and to be ready for marketing by the end of this calendar year.
The market opportunity for this is massive. If you take the 600,000 patients who undergo surgery every year now, based on an estimated average sales price driven by reimbursement profiles from ambulatory surgery centers and surgeons who perform this procedure, that gets you right to a $1 billion market opportunity range.
That is immediately addressable. There is also a broader market opportunity for those 1 million to 1.5 million patients who are deferring surgery who we believe would stop suffering in silence and seek a treatment for this condition if it was offered as something with less invasiveness.”
Dr. Aklog’s company has other devices being developed:
“The patient swallows the capsule. The operator, in this case, is the nurse, and he or she helps it along to the stomach.
There is a balloon within the capsule that is inflated, and as it is withdrawn, the operator can sample the cells of the lower esophagus. A key differentiating aspect to this, relative to anything that currently exists, is that when you deflate the balloon, it pulls the cells into the capsule and protects them.
So for the rest of the way out as it moves through the esophagus, there is no contamination with or dilution from other cells. You are really getting an optimal sample.”
Get the full details on this and several other treatments bny reading the entire 6,174 word interview in the Wall Steet Transcript today.
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