Business
Inspira™ Announces Business Plan Targets
Company to aggressively promote INSPIRA™ ART100 in the U.S. and additional markets following FDA clearance, as well as accelerate plans for ground-breaking
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[{"type":"text","content":"Company to aggressively promote INSPIRA™ ART100 in the U.S. and additional markets following FDA clearance, as well as accelerate plans for ground-breaking INSPIRA™ ART (Gen2) \nRA'ANANA, Israel, June 20, 2024 /PRNewswire/ -- Inspira™ Technologies OXY B.H.N. Ltd. (Nasdaq: IINN), (Nasdaq: IINNW) (the \"Company\" or \"Inspira\"), a breakthrough medical technology company, announced today that the Company's President and co-founder, Mr. Joe Hayon, presented a business plan with targets for the Company's next-generation technologies on a Company conference call today.\n\n \n \nOn the call, Inspira unveiled plans to build an opportunity for a share of the $19 billion mechanical ventilation market. Inspira's mission is to eliminate the need for traditional mechanical ventilators, with its flagship the INSPIRA™ ART (Gen 2) device, being designed to perform direct blood oxygenation, with the patient potentially being awake and without the need for intubation.\nAlongside the ongoing development of the INSPIRA ART (Gen 2) game-changing adaptive blood oxygenation technology, the Company is working on the multi-site deployment of the 510(k) U.S. Food and Drug Administration (FDA) Cleared INSPIRA ART100, a cardiopulmonary support device. Under the existing distribution agreements with Glo-Med Networks, Inc, the Company has already received the first purchase order from the U.S. distributor, with its first shipment scheduled for Q4 2024.\nKey Highlights from the Presentation:\nThe Company outlined the ground-breaking INSPIRA™ ART (Gen2) technology, with the aim of targeting a share of the projected $19 billion global mechanical ventilation market size estimated by 2030.Business goals for 2024-2025: Inspira is on track to submit its HYLA™ blood sensor, a key component of the INSPIRA™ ART (Gen 2) system, for FDA Clearance with Company plans to integrate the technology into the next generation of the INSPIRA™ ART100 device. In addition, Inspira is on track with phase 2 research and development for the VORTX™ blood delivery system and phase 3 verification and validation testing of the HYLA blood sensor. Inspira plans to deploy the INSPIRA™ ART100 in multiple sites and countries, and leverage it as a penetration model for the subsequent generation of its technology, the INSPIRA™ ART (Gen 2). We strongly believe that the INSPIRA™ ART100 research an...