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Inspira Technologies Oxy B.H.N. Ltd. reports developments in Additively Manufactured Electronics, quantum connectivity and its medical technology portfolio. Company updates focus on AME system orders and deployments, QTREX-branded cryogenic interconnect work for superconducting quantum systems, customer activity with research, defense and technology organizations, and leadership or strategic-direction announcements.
The company's medical technology context includes respiratory support and blood monitoring platforms, including INSPIRA ART, INSPIRA ART100 and the HYLA Blood Sensor, while recent communications emphasize a dedicated medical business unit alongside the AME and quantum connectivity strategy.
Inspira Technologies OXY B.H.N. Ltd. (Nasdaq: IINN) reported its Q2 2022 financial results, highlighting a net loss of $3.5 million, down from $8.2 million a year earlier. Cash reserves stood at $19.2 million as of June 30, 2022. The company's R&D expenses rose to $2.7 million, driven by increased projects and share-based compensation. Inspira introduced the HYLA™ non-invasive blood sensor and revealed the ALICE™ Device for cardiopulmonary bypass, targeting respective markets of $2.5 billion and significant deployment agreements in Israel and the U.S.
Inspira Technologies has introduced the Liby™ System, a next-generation extracorporeal membrane oxygenation (ECMO) device aimed at the $531 million global ECMO market. The company plans to submit for FDA approval in the first half of 2023, anticipating a Class II 510(k) designation that may not require human trials. The Liby™ system features innovative capabilities such as continuous patient monitoring integration with HYLA™ technology, reducing medical care costs through a consumable sales model.
Inspira Technologies OXY B.H.N. Ltd. (Nasdaq: IINN) has unveiled the Liby™ System, a new extracorporeal membrane oxygenation (ECMO) device designed to treat severe heart and lung failure. Targeting a $531 million global ECMO market, the system is set for FDA submission in H1 2023 and may qualify as a Class II 510(k) device, potentially bypassing human trials. The Liby™ system aims to enhance patient mobility and usability in ICUs, generating recurring revenue through disposable kits, similar to its ART™ system.
Inspira Technologies has signed a strategic agreement with Glo-Med Networks for the potential distribution of the HYLA™ Blood Sensors across six US states over three years, pending regulatory approvals. This contract includes a minimum purchase commitment of 3,889 sensors and 264,873 disposable units, potentially worth $59 million. This agreement follows a previous contract for the ART™ system and positions Inspira for significant growth in the medical device market.
Inspira Technologies (NASDAQ: IINN) announced the development of the non-invasive HYLA™ blood sensor, aiming to transform patient monitoring by providing continuous, real-time blood analysis without drawing blood. Targeting a potential $2.5 billion market, the sensor's applications include critical care settings and various medical procedures. Designed using machine learning, it can measure key health indicators like oxygen and carbon dioxide levels. The technology is still in development and requires regulatory approval.
Inspira Technologies OXY B.H.N. Ltd. (NASDAQ:IINN, NASDAQ:IINNW) will be featured on The RedChip Money Report airing on Bloomberg TV on July 2, 2022, at 7 p.m. ET. CEO Dave Gentry interviews CFO Joe Hayon, discussing the Company’s Augmented Respiration Technology (ART), which aims to enhance respiratory support for acute respiratory failure patients. The technology seeks to minimize the need for invasive ventilation methods. Inspira targets $401 million in potential sales through its ongoing agreements and is actively pursuing regulatory approval in the U.S. and Europe.
Inspira Technologies (Nasdaq: IINN) reported its Q1 2022 financial results, announcing a net loss of $1.3 million, significantly down from $7.2 million in Q1 2021. The company had $21.7 million in cash as of March 31, 2022. R&D expenses rose to $1.5 million, driven by hiring specialized staff. Marketing and general administrative expenses also increased to $472,000 and $1.5 million, respectively. Inspira is focused on FDA submissions for its ART system and has secured strategic agreements potentially worth $212 million over seven years.
Inspira Technologies OXY B.H.N. Ltd. (Nasdaq: IINN) has announced its participation in several key events in May 2022, showcasing its innovative respiratory support technology. Highlights include the Medtech Forum in Barcelona from May 3-5, featuring VP Adi Rizansky Nir, and the EuroELSO Congress in London from May 4-6, with CTO Daniella Yeheskely-Hayon. The company will also present at the Sidoti Virtual Microcap Conference on May 11 and engage in a Fireside Chat at the Benzinga Virtual All Access Show on May 20, led by CFO Joe Hayon.
The company’s ART device aims to support respiratory patients efficiently.
Inspira Technologies announced a summary distribution agreement with Bepex Ltd. aimed at deploying its Augmented Respiration Technology (ART) systems in Israel's medical centers. This partnership follows three prior agreements collectively targeting approximately $386M in the U.S. and European markets, pending regulatory approvals. The initial term of the agreement is set for seven years. The ART system is projected to provide innovative care for acute respiratory failure, potentially reducing reliance on invasive mechanical ventilation.
Inspira Technologies OXY B.H.N. Ltd. (Nasdaq: IINN) has published its financial results for 2021, available on its Investor Relations website. The report outlines key metrics and insights from the company's operations over the past year. For a detailed overview, stakeholders are encouraged to view the CEO update linked in the announcement.