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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) has filed a Patent Cooperation Treaty application for its innovative dual lumen cannula designed to enhance respiratory care. This novel device aims to improve patient outcomes by preventing complications like air embolisms, bleeding, and infection. The dual lumen cannula allows for bedside insertion into large blood vessels, quickly rebalance oxygen saturation while reducing human error. CEO Dagi Ben-Noon highlighted the goal to offer cost-effective support for patients with acute respiratory failure, though the product is still in development and not FDA approved.
Inspira Technologies (Nasdaq: IINN) has signed an exclusive distribution agreement with Anita Técnica S.L. (WAAS Group) to deploy ART devices in Spain and Portugal over a period of seven years. The agreement entails WAAS Group purchasing a minimum of 1,040 ART devices and 35,360 disposable units, pending regulatory approval. The ART device aims to support patients with respiratory failure while awake, potentially reducing mechanical ventilation reliance. This collaboration leverages WAAS Group's market penetration capabilities in the region, positioning Inspira for rapid adoption.
Inspira Technologies OXY B.H.N. Ltd. (Nasdaq: IINN) will present its ART device at the HLTH conference in Boston from October 17-20, 2021. Co-Founder and CFO Joe Hayon will discuss the company's innovative respiratory support technology that aims to function as an 'Artificial Lung' for patients. This system is designed to enhance patient care while minimizing the need for mechanical ventilation. Inspira Technologies is part of the Israeli Medical Device & Digital Health sector and will showcase its technology at Booth 1147-15.
Inspira Technologies OXY B.H.N. Ltd. (Nasdaq: IINN) announced it will host a TechTalk event titled "Has COVID-19 changed the game?" on October 6, 2021, at 1:00 PM EDT. This online conference will focus on the impacts of COVID-19 on medical practices, technology innovations, and capital markets. Key speakers include Dr. Yigal Kassif discussing new COVID-19 treatment paradigms, Tal Dolev on medical startup technologies, and Miri Segal-Scharia covering capital market effects. The event aims to engage healthcare professionals and investors. For registration, visit: registration link.
Inspira Technologies OXY B.H.N. Ltd (Nasdaq: IINN) has contracted GlobalLogic, a Hitachi Group Company, to enhance the digital platform of its ART device, which functions as an artificial lung. This advanced algorithm-based control platform aims to optimize patient oxygen saturation and features advanced sensor data collection. CEO Dagi Ben-Noon highlighted the significance of this project amidst the COVID-19 pandemic, aiming to improve patient care. GlobalLogic's expertise in medical technology is expected to accelerate product development and enhance healthcare experiences.
Inspira Technologies has submitted a patent application for a new supportive device aimed at improving treatment and mobility for cannulated patients, enhancing procedures for medical staff. This device is designed to assist patients requiring Extracorporeal Membrane Oxygenation (ECMO) and other treatments such as COVID-19, COPD, and ARDS. CEO Dagi Ben-Noon emphasized its potential impact on patient outcomes and rapid patent acquisition through the Israeli Patent Office, recognized for its efficiency. The ART device, functioning as an 'artificial lung,' remains untested in humans and lacks FDA approval.
Inspira Technologies OXY B.H.N. Ltd. (Nasdaq: IINN) has announced participation in two upcoming virtual conferences. Joe Hayon, Co-Founder and CFO, will be featured at the H.C. Wainwright 23rd Annual Global Investment Conference with an on-demand presentation available from September 13, 2021. He will also present at the Benzinga Small/Mid Cap Healthcare Conference on September 29, 2021, at 10:50 am ET. The company specializes in proprietary respiratory support technologies designed to stabilize patient oxygen levels without invasive mechanical ventilation.
Inspira Technologies OXY B.H.N. Ltd (Nasdaq: IINN) announced the successful completion of a pump bench study for its ART device, aimed at providing extracorporeal respiratory support. This milestone allows the company to advance towards the manufacturing phase of the ART device, designed to function as an "external lung" and enable patients to remain awake during treatment. The study compared Inspira's pump with leading centrifugal pumps, emphasizing its potential to minimize blood damage. However, the ART device has not yet undergone human testing or received FDA approval.
Inspira Technologies OXY B.H.N. Ltd (Nasdaq: IINN) reported financial results for the six months ending June 30, 2021. The company raised $16 million through its IPO and has $4.36 million in cash. R&D expenses decreased to $1.10 million, while marketing expenses were $244,000. The net loss increased to $8.29 million compared to $4.35 million in 2020, attributed to higher finance expenses. The company aims to target a $25 billion market with its Augmented Respiration Technology (ART) and plans to double its workforce to support development efforts.
Inspira Technologies OXY B.H.N. Ltd. (Nasdaq: IINN) has appointed Lior Amit, CPA, to its board of directors to enhance its market strategy, particularly for the Augmented Respiration Technology (ART) system. Amit brings over 17 years of CFO experience from BBR Saatchi & Saatchi and currently serves on the boards of multiple start-ups. The ART technology aims to provide cost-effective respiratory treatment while patients are awake, potentially reducing reliance on invasive mechanical ventilation. However, the product has yet to undergo human testing or receive FDA approval.