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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) 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.
Inspira Technologies Oxy B.H.N. Ltd. (IINN) has appointed Dr. Dekel Stavi to its Medical Advisory Board, enhancing its strategic expansion into North America. Dr. Stavi brings extensive experience in intensive care medicine and leadership in Extracorporeal Life Support programs. His role is expected to significantly contribute to the introduction of Inspira's innovative respiratory technology, which aims to improve oxygen saturation levels in patients. However, the company's products are not yet FDA-approved and have not been tested in humans.
Aegis Capital Corp. acted as Sole Bookrunner for a $16.0 million Initial Public Offering of Common Units for Inspira Technologies OXY B.H.N. Ltd. (NASDAQ:IINN, IINNW). The company is focused on respiratory treatments with its innovative Augmented Respiration Technology that stabilizes oxygen saturation levels, allowing patients to remain awake during treatment.
This technology aims to reduce reliance on mechanical ventilation, which is often invasive and risky.
Inspira Technologies, a leader in respiratory medical technology, announced a significant development in preventing blood clotting with its Augmented Respiration Technology (ART) system. Collaborating with Ben-Gurion University, the company aims to enhance the ART system by integrating a platform that utilizes polymeric microbubbles to release oxygen on demand. This innovation seeks to improve patient outcomes by potentially eliminating the need for anticoagulants, which carry risks of life-threatening bleeding. The ART system, still in development, aims to stabilize patient oxygen levels without mechanical ventilation.
Inspira Technologies OXY B.H.N. Ltd has successfully closed its initial public offering (IPO) of 2,909,091 units at a price of $5.51 per unit, generating approximately $16 million in gross proceeds. Each unit includes one ordinary share and one warrant. The company has granted Aegis Capital Corp. a 45-day option for additional shares and warrants. The shares and warrants are now trading on Nasdaq under symbols IINN and IINNW respectively. Notably, Inspira's Augmented Respiration Technology is still pending FDA approval and human testing.
Inspira Technologies OXY B.H.N. Ltd announced the pricing of its initial public offering (IPO) of 2,909,091 common units, priced at $5.51 each, comprising one ordinary share and one warrant per unit. The offering is expected to raise $16 million in gross proceeds and is set to close on July 16, 2021, subject to customary conditions. Additionally, Aegis Capital Corp. has a 45-day option to purchase up to 15% more common units to cover over-allotments. Trading on Nasdaq is expected to begin on July 14, 2021 under the symbols IINN and IINNW.