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Inspira™ Technologies Reports Fourth Quarter 2022 and Full Year Financial Results
As of December 31, 2022, the Company had $13.9 million in cash, cash equivalents, and deposits. RA'ANANA, Israel, April 4, 2023 /PRNewswire/ -- Inspira
About this update from Qtrex Quantum Ltd.
[{"type":"text","content":"As of December 31, 2022, the Company had $13.9 million in cash, cash equivalents, and deposits. \nRA'ANANA, Israel, April 4, 2023 /PRNewswire/ -- Inspira Technologies OXY B.H.N. Ltd. (Nasdaq: IINN, IINNW) (the \"Company\" or \"Inspira Technologies, a company aiming to revolutionize acute respiratory care, announced its financial results for the fourth quarter and year ended December 31, 2022.\n \nDagi Ben-Noon, Chief Executive Officer of Inspira Technologies, stated:\n\"We believe that the Company is well funded to achieve its immediate goals, advancing the building blocks of the INSPIRATM ART system. This includes the HYLATM blood sensor clinical studies currently underway and our ALICETM device, with the U.S. Food and Drug Administration (FDA) submission planned to occur in the second half of this year.\"\n\"Inspira's strategic targets continue to be met as we aim to revolutionize the acute respiratory care market. We continue to develop disruptive technologies and a disruptive product pipeline that are the building blocks of the INSPIRA ART system, which is being designed to prevent the need for invasive mechanical ventilation. The grant of a patent by the U.S. Patent and Trademark Office (USPTO) for the INSPIRA ART convertible dual lumen cannula device is further evidence of this. The patent grant included its Method of Use, with all 20 claims found to be novel, with inventive step and industrial applicability. This year, we also expect additional patent grants by the USPTO for INSPIRA ART technologies, as well as for its Method of Use, to use low-flow direct blood oxygenation to prevent the need for Invasive Mechanical Ventilation (IMV). Continuing to gain traction, we signed a strategic OEM agreement with a division of a significant global medical-device corporation for the manufacture of a flow mechanism for the blood oxygenation process in our disruptive products.\"\n\"Our HYLA blood sensor, based on the INSPIRA ART sensor technology, has started a first in human clinical study at Sheba Medical Center in Israel alongside patients undergoing open-heart surgery. We plan to provide the market updates as it progresses.\"\n\"Our ALICE device is currently undergoing verification and validation (V&V) testing towards its 510(k) FDA submission planned for the second half of 2023, with a decision expected in 2024.\n\"We at Inspira...