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Inspira™ Signs Agreement Expansion with Innovimed for Clinical Trials of INSPIRA™ ART Respiratory Medical Devices
The extended agreement covers any European country RA'ANANA, Israel, Aug. 29, 2023 /PRNewswire/ -- Inspira™ Technologies OXY B.H.N. Ltd. (Nasdaq: IINN)
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[{"type":"text","content":"The extended agreement covers any European country\nRA'ANANA, Israel, Aug. 29, 2023 /PRNewswire/ -- Inspira™ Technologies OXY B.H.N. Ltd. (Nasdaq: IINN) (Nasdaq: IINNW) (the \"Company\" or \"Inspira\"), a company dedicated to advancing acute respiratory care by enabling breathing without lungs, announced today that it has signed a further Service Agreement to supplement its previously announced Strategic Agreement with Innovimed Sp. z o.o (\"Innovimed\") for planned clinical trials (clinical pilot studies) of the INSPIRA™ ART medical devices.\nThe extended agreement covers any European country. The company to-date have signed summary distribution agreements with Innovimed in Poland, Czech Republic and Slovakia, subject to completion of product development and regulatory approval, potentially generating over $130 million in revenues for the Company over seven years.\nThe Company medical devices are aimed at significantly reducing mortality rates and the risk of coma, bacterial infections, and other related risks that are prevalent in legacy invasive mechanical ventilation systems used today in twenty million patients every year.\nInspira CEO, Dagi Ben-Noon said: \"We believe that this agreement is a strong move towards making Inspira's technology well-recognized in the European Union ahead of future commercialization of the systems.\" \nAbout Innovi Medical (\"Innovimed\") \nInnovimed was established to support global MedTech and Pharma companies with market penetration in emerging markets. With its headquarters located in Europe, it offers a broad and efficient operational service and experience. Innovimed has in-depth knowledge of the regions within which it operates, and it applies a strategic approach to the support it provides to launch products within such countries' markets.\nFor more information, please visit our corporate website: https://innovimed.com. \nAbout Inspira Technologies OXY B.H.N. Ltd.Inspira Technologies maintains a steadfast mission to revolutionize acute respiratory care through innovation. The Company's primary objective is the development of medical technologies and products aimed at preventing the necessity of mechanical ventilation. Its flagship product, the INSPIRATM ART500, is intricately designed to rapidly elevate blood oxygen saturation levels, all while keeping patients conscious and alert. Moreo...