Ir-Med Inc Stock Price, News & Analysis

IR-MED (OTCQB: IRME) has shared significant progress in its development of non-invasive AI-driven spectrographic analysis technology. The company's flagship device, PressureSafe™, targeting a $1.7B domestic and $2.9B global market opportunity, has shown promising results in clinical studies.

Key clinical findings include:

• Israeli study at Clalit Medical Centers: 89% sensitivity and 90% specificity across 924 scans, with no adverse events in 1,475 scans
• U.S. study at Methodist hospitals in Texas: 90% sensitivity rate across 294 scans, demonstrating effectiveness across diverse skin tones

The company is also developing DiaSafe™, a device for diabetic foot ulcer assessment. The first year of development was completed with a $1M budget (50% grant-funded by Israel Innovation Authority). IR-MED is pursuing a second IIA grant and planning first-in-human trials. The company is actively working toward uplisting to the Nasdaq Stock Exchange.

IR-MED Inc. (OTCQB:IRME) has announced the start of a usability study for its PressureSafe™ device at Methodist Healthcare in San Antonio, Texas. PressureSafe™ is a non-invasive AI-driven medical device designed to detect early-stage pressure injuries for all skin tones using infrared optical spectroscopy. The study, titled 'Safety and Efficacy of the PressureSafe Device for Early Detection of Pressure Injury in People with Various Skin Tones, Including Dark Skin Tones,' aims to improve early detection and prevention of pressure injuries, particularly addressing healthcare inequality for people with darker skin tones.

The study will enroll up to 104 participants, with approximately half having dark skin tones. In a previous study conducted at Israel's largest HMO, PressureSafe™ demonstrated 92% sensitivity in detection, and the incidence of pressure injuries was reduced by 50% during the study period. Pressure injuries result in 60,000 deaths annually in the U.S., with patient care costs ranging from $20,900 to $151,700 per injury.

IR-MED Inc. (OTCQB:IRME) has appointed Ran Ziskind as its new Chief Executive Officer, effective September 1, 2024. Ziskind, a tech entrepreneur and growth manager, brings two decades of experience in launching and expanding innovative companies. He was previously co-founder and CEO of Galatea , where he developed groundbreaking electro-optics technology for the diamond industry. Ziskind's expertise spans research and development, intellectual property management, and product commercialization.

IR-MED, developer of a noninvasive AI-driven spectrographic analysis technology platform for healthcare, is preparing to launch its first product, PressureSafe™. The company aims to improve healthcare outcomes through early, non-invasive detection of skin, tissue, and blood vessel-related conditions. With Ziskind's leadership, IR-MED plans to capture market share and set new standards in detection and diagnosis.

IR-MED Inc. (OTCQB:IRME) has been awarded 'Best Up-and-Coming Health Tech Company' at the prestigious Netty Awards, recognizing its innovative AI-driven spectrographic analysis technology platform. The company's 'Sensing the Invisible' technology aims to enhance healthcare through early detection of various medical conditions.

IR-MED's flagship products include PressureSafe™, set to launch in the U.S. in late 2024, which identifies early-stage pressure injuries with 92% accuracy, addressing a $26.8 billion market. DiaSafe™, planned for launch in 2025, targets the diabetic foot ulcer detection market, projected to reach $17.1 billion by 2031.

The company's technology provides non-invasive, skin tone agnostic, real-time analysis of blood and tissue, potentially revolutionizing patient care and treatment paradigms in multi-billion dollar markets.

IR-MED Inc. (OTCQB:IRME) has received a $500,000 grant from the Israel Innovation Authority to develop DiaSafe™, a device for early detection of diabetic foot ulcers. This marks the company's second IIA grant after peer review. DiaSafe™ uses AI-driven spectrographic analysis to provide non-invasive, real-time optical readings of biomarkers. The 13-month development is on schedule, with computer simulations completed and hardware construction underway.

Diabetic foot ulcers affect up to 183 million people globally, with 37 million potentially requiring amputation. Early detection can significantly improve patient outcomes and reduce healthcare costs in a $10 billion global treatment market. IR-MED's platform technology also powers PressureSafe™, a device for early pressure injury detection, expected to launch in the U.S. in H2 2024.

IR-MED has published positive results from a usability study of its PressureSafe™ device, performed in collaboration with Clalit, Israel's largest HMO. The study, which included 924 scans on 154 body locations, demonstrated that PressureSafe™ could reduce pressure injuries by 50%. The device achieved 92% sensitivity and 88% specificity in detecting Stage 1 and suspected deep tissue injury pressure injuries. PressureSafe™, which uses AI-driven infra-red spectroscopy, has received FDA listing confirmation. The findings were also presented at the National Pressure Injury Advisory Panel (NPIAP) 2024 Annual Conference.