The Company plans to aggressively promote INSPIRA™ ART100 in the U.S. and other markets upon FDA clearance and to accelerate plans for the breakthrough INSPIRA™ ART (Generation 2).
Ra'anana, Israel, June 20, 2024 /PRNewswire/ — Inspira™ Technologies OXY BHN Ltd. Inspira, Inc. (Nasdaq: IINN), (Nasdaq: IINNW) (the “Company” or “Inspira”), a breakthrough medical technology company, today announced that the Company's President and Co-Founder, Mr. Joe Hye-youngDuring a conference call today, the company announced its business plan, which includes ambitions for its next generation technology.
Inspira said in a conference call: $19 billion Ventilator Market. Inspira's mission is to eliminate the need for traditional ventilators. Their flagship product, the INSPIRA™ ART (Gen 2) device, is designed to provide direct blood oxygenation while the patient remains awake and without the need for intubation.
In parallel with the continued development of its breakthrough adaptive blood oxygenation technology, INSPIRA ART (2nd generation), the company is working on the multi-site deployment of its U.S. Food and Drug Administration (FDA) 510(k) cleared cardiopulmonary support device, INSPIRA ART100. Under an existing distribution agreement with Glo-Med Networks, Inc., the company has already received its first orders from U.S. distributors, with first shipments scheduled for Q4 2024.
Key highlights from the presentation:
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The company will outline its groundbreaking INSPIRA™ ART (2nd generation) technology and aim to capture projected market share. $19 billion Global mechanical ventilation market size predicted by 2030.
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2024-2025 Business Objectives: Inspira is on track to submit for FDA approval of its HYLA™ Blood Sensor, a key component of the INSPIRA™ ART (Gen 2) System, and plans to integrate this technology into its next-generation INSPIRA™ ART100 device. Additionally, Inspira is well advanced in Phase 2 research and development of its VORTX™ Blood Delivery System, and Phase 3 verification and validation testing of the HYLA Blood Sensor.
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Inspira is using INSPIRA™ ART100 in multiple We hope to use this technology as a popularization model for the next generation of INSPIRA™ ART (2nd generation) in various locations and countries. Inspira™ ART100's R&D and regulatory success story hints at future potential breakthroughs from INSPIRA.™ ART (2nd generation)
About Inspira Technologies OXY BHN LTD.
Inspira™ Technologies is an innovative medical technology company in the field of life support. The INSPIRA™ ART (Gen 2), also known as the INSPIRA™ ART500, features the company's adaptive blood oxygenation technology, designed to continuously measure a patient's blood parameters in real time and deliver the required amount of oxygen directly to the blood. By increasing a patient's oxygen saturation within minutes, the technology has the potential to keep patients awake during treatment, allowing patients to be treated in and out of the intensive care unit and reducing the need for mechanical ventilation necessitating intubation and medically induced comas.
The company received FDA 510(k) clearance for its INSPIRA ART100 cardiopulmonary bypass system.
Our other products, including INSPIRA ART (2nd generation) and the HYLA™ blood sensor, have not been approved for sale by the U.S. Food and Drug Administration (FDA) or any other regulatory authority.
For more information, please visit our company website: https://inspira-technologies.com
Forward-Looking Statements
This press release contains express or implied forward-looking statements under the U.S. federal securities laws. These forward-looking statements and their implications are based only on the current expectations of our management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. For example, we use forward-looking statements in describing our plans to structure an opportunity to acquire shares of our company. $19 billion The Company is not responsible for any errors or omissions contained in the forward-looking statements, including, but not limited to, the following: the market for mechanical ventilation, the potential benefits of the systems and products, the expected delivery of purchase orders, the regulatory situation regarding the HYLA blood sensor, plans to integrate the HYLA blood sensor into the next generation INSPIRA ART100 system, progress in product research and development and verification and validation testing, plans regarding the rollout of the INSPIRA ART100, and the belief that the INSPIRA ART100 is a popular, research and development and regulatory model for the INSPIRA ART (2nd generation). These forward-looking statements and their implications are based only on the current expectations of the Company's management and are subject to a number of factors and uncertainties that may cause actual results to differ materially from those described in the forward-looking statements. Except as otherwise required by law, the Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information regarding the risks and uncertainties affecting the Company is set forth under the heading “Risk Factors” in the Company's Annual Report on Form 20-F for the fiscal year 2015. December 31, 2023 The proposal has been filed with the U.S. Securities and Exchange Commission (SEC) and is available on the SEC's website at http://www.sec.gov.
For more information:
Public Relations Manager
Adi Shmueli
Inspira Technologies
inquiry
+972-9-9664485
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