RA'ANANA, Israel – Inspira Technologies OXY B.H.N. Ltd. (NASDAQ:IINN) (NASDAQ:IINNW), an innovator in medical technology, has announced the approval of a U.S. patent for its VORTX™ orbiting blood oxygenation delivery system, a pivotal feature of the INSPIRA™ ART device. This addition brings the total number of novel claims for the device's core technology to 32.
The VORTX™ system is designed to oxygenate blood in a way that could minimize blood cell damage and reduce costs compared to current fiber membrane technologies. These conventional technologies often cause harm to blood cells due to the pressure differences created by forcing blood through multiple layers of fibers.
Dagi Ben-Noon, CEO of Inspira Technologies, emphasized the significance of this development, stating, "We view this as another major leap forward in blood oxygenation technologies, representing another crucial milestone highlighting the core technological capabilities of the INSPIRA™ ART."
The INSPIRA™ ART device is intended to offer an alternative to mechanical ventilators for the 20 million ICU patients suffering from respiratory failure annually. It aims to maintain stable oxygen saturation levels, allowing patients to remain conscious during treatment, which could be a significant advancement in the $19 billion mechanical ventilation market.
Inspira Technologies has developed the INSPIRA™ ART100 system, which has already received FDA 510(k) clearance for use in cardiopulmonary bypass procedures. The company is also working on other products, including the INSPIRA™ ART500 or Gen 2, and the INSPIRA™ Cardi-ART portable modular device, as well as the HYLA™ blood sensor, none of which have been tested on humans or approved by regulatory entities yet.
The information presented in this article is based on a press release statement from Inspira Technologies. The company's forward-looking statements are subject to various factors and uncertainties, and there is no guarantee that the anticipated benefits and market potential will materialize. The company's annual report contains more detailed risk factors and is available on the SEC's website.
InvestingPro Insights
In the wake of Inspira Technologies' patent approval for its VORTX™ system, investors are closely monitoring the company's financial health and market performance. According to InvestingPro data, Inspira Technologies currently holds a market capitalization of $21.28 million. The company's P/E ratio stands at -1.23, reflecting challenges in profitability, with the adjusted P/E ratio for the last twelve months as of Q4 2023 at -1.89.
While Inspira Technologies is innovating in the medical technology space, InvestingPro Tips suggest that the company is quickly burning through cash and has not been profitable over the last twelve months. Despite these challenges, the company holds more cash than debt on its balance sheet, which could provide some financial flexibility in its operations. Additionally, Inspira's liquid assets exceed its short-term obligations, indicating a degree of liquidity that may support its ongoing research and development efforts.
InvestingPro also highlights that Inspira's stock price movements have been quite volatile, with a significant price fall over the last three months but a strong return over the last month. Such volatility is important for investors to consider, especially those looking for stability in their investments. For those interested in further insights, InvestingPro offers additional tips on Inspira Technologies, which can be found at InvestingPro.
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