PAVmed Partners With Leading Academic Institutions To Develop Revolutionary Ear Device

PAVmed Inc. (Nasdaq: PAVM, PAVMW), a highly differentiated, multi-product medical device company, today announced that it has signed a definitive licensing agreement with a group of leading academic institutions, including Tufts University and two Harvard Medical School teaching hospitals - Massachusetts Eye and Ear Infirmary and Massachusetts General Hospital. The agreement provides PAVmed with an exclusive worldwide license to develop and commercialize antibiotic-eluting resorbable ear tubes based on a proprietary aqueous silk technology conceived and developed at these institutions.

Lishan Aklog, M.D., Chairman and CEO of PAVmed, said, "We are thrilled to partner with these world-renowned institutions to develop and commercialize this revolutionary technology. Academic medical centers and individual clinician innovators have often struggled to advance their medical device innovations to commercialization. One of PAVmed's central goals has been to provide innovators with a rapid, capital-efficient and streamlined pathway to commercialization, free from traditional structural and capital constraints. We anticipate this agreement will serve as a model for future engagements with medical device innovators worldwide."

PAVmed also announced that one of the visionaries behind this technology, Christopher J. Hartnick, M.D., Professor of Otolaryngology at Harvard Medical School and Chief of Pediatric Otolaryngology at Massachusetts Eye and Ear Infirmary and Massachusetts General Hospital, has joined its Medical Advisory Board and will work closely with the PAVmed team on its development. Dr. Hartnick also serves as Vice Chair of Safety and Quality, and of Clinical Research in the Department of Otolaryngology at Harvard Medical School and as Director of its Pediatric Airway, Voice and Swallowing Center.

Each year, up to 1 million children with persistent ear infections (otitis media) or middle ear fluid collections (effusions) undergo placement of metal, plastic or latex bilateral ear tubes to ventilate and drain the middle ear. This is the most common pediatric surgical procedure in the U.S.