Inspira Technologies OXY, which is developing minimally invasive devices for mechanical ventilation, filed on Friday with the SEC to raise up to $18 million in an initial public offering.
The company's lead product is the augmented respiration technology (ART) system, a novel respiratory support system comprised of a minimally invasive, portable dual lumen cannula which is inserted into the jugular vein and utilizes extra-corporeal direct blood oxygenation to elevate and stabilize declining oxygen saturation levels. Its ART system is currently in development, has not been tested in humans, and has not been cleared or approved by the FDA.
The Tel-Aviv, Israel-based company was founded in 2018 and plans to list on the Nasdaq under the symbol IINN. Inspira Technologies OXY filed confidentially on December 29, 2020. The Benchmark Company is the sole bookrunner on the deal. No pricing terms were disclosed.
