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.