Inspira's VORTX is as a potential frontrunner in the
$4 Billion Disposable Blood
Oxygenator market
RA'ANANA, Israel, Nov. 6, 2023
/PRNewswire/ -- Inspira™ Technologies OXY B.H.N. Ltd.
(Nasdaq: IINN, (Nasdaq: IINNW) (the "Company" or "Inspira
Technologies"), a company dedicated to transforming the
multi-billion dollar acute respiratory care market with the INSPIRA
ART medical device line, is pleased to announce the recent approval
of a grant from the Israeli Innovation Authority (IIA) for the
groundbreaking VORTX™ Disposable Blood Oxygenation
Technology.
At the core of the Company's technology lies the VORTX
Disposable Blood Oxygenator, specifically being designed for
compatibility with the INSPIRA ART Device line of products.
Distinguishing itself from conventional hollow fiber membrane-based
oxygenators in the market, the VORTX is being engineered to
oxygenate blood and remove carbon dioxide, mitigating common
fiber-membrane complications, such as device failure, coagulation
and hemolysis.
The VORTX Disposable Blood Oxygenator addresses a vast
$4 billion perfusion disposable
market within the medical devices and applications sector. It
applies to various critical medical equipment, including
cardio-pulmonary bypass devices, heart-lung machines and
extracorporeal membrane oxygenation (ECMO). From a business
perspective, VORTX's disposable unit is being strategically
designed to potentially offer a more cost-effective alternative to
the fiber-based oxygenators currently available in the market.
This grant underscores the IIA's endorsement of the
Company and its new cutting edge solutions. The IIA has committed
to supporting the VORTX development project by granting funds equal
to 40% of the first-year IIA approved budget of $1 million.
About Inspira Technologies OXY B.H.N. Ltd.
Inspira Technologies has a clear mission to revolutionize acute
respiratory care through innovation. We aim to develop medical
technologies and products that prevent the need for mechanical
ventilation. Empowering breathing without lungs, the flagship
INSPIRA ART500 is designed to boost blood oxygen saturation levels
in minutes, even as the patient remains awake. We strive to deliver
blood circulation technology alongside AI-driven monitoring and
analytics to create patient-centric and data-driven solutions that
enhance patient outcomes and improve hospital efficiency. Through
our continuous efforts, we aim to reshape the future of
extracorporeal treatments to create a better healthcare experience
for patients worldwide. The Company's products have not yet been
tested or used in humans and have not been approved by the Food and
Drug Administration (FDA) or any regulatory entity.
For more information, please visit our corporate
website: https://inspira-technologies.com.
Forward-Looking Statement Disclaimer
This press release contains express or implied forward-looking
statements under U.S. federal securities laws. These
forward-looking statements and their implications are based on the
current expectations of the management of the Company only. They
are subject to several factors and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. For example, the Company is using
forward-looking statements when it discusses the potential benefits
of its VORTX Disposable Blood Oxygenator, and that the VORTX
Disposable Blood Oxygenator is a potential frontrunner in the
$4 billion disposable blood
oxygenator market. These forward-looking statements and their
implications are based solely on the current expectations of the
Company's management. They are subject to several factors and
uncertainties that could 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 release any revisions to these forward-looking statements
to reflect events or circumstances after the date hereof or the
occurrence of unanticipated events. More detailed information about
the risks and uncertainties affecting the Company is contained
under the heading "Risk Factors" in the Company's annual report on
Form 20-F for the fiscal year ended December
31, 2022, filed with the U.S. Securities and Exchange
Commission (the "SEC"), which is available on the SEC's website,
www.sec.gov.
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For more details:
Public Relations Manager
Adi Shmueli
Inspira Technologies
info@inspirao2.com
+972-9-9664485
Copyright © 2018-2023 Inspira Technologies OXY B.H.N.
LTD.
All rights reserved.
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SOURCE Inspira Technologies