Inspira Technologies Oxy B.H.N. Ltd. (IINN) is planning to raise $17 million in an IPO on the week of April 5th, IPO Scoop reports. The company will issue 2,800,000 shares at a price of $5.50-$6.50 per share.
Inspira Technologies Oxy B.H.N. Ltd. has a market cap of $78.5 million.
The Benchmark Company served as the underwriter for the IPO and National Securities Corporation was co-manager.
Inspira Technologies Oxy B.H.N. Ltd. provided the following description of their company for its IPO: “We are a specialty medical device company engaged in the research, development, manufacture, and marketing of proprietary respiratory support technology that is intended to provide an alternative to invasive mechanical ventilation, or MV, which is the standard of care today for the treatment of respiratory failure. Although it may be lifesaving, MV is associated with increased costs of care, extended lengths of stay in the hospital, frequent incidence of infections, ventilator dependence and mortality. Using our state-of-the-art respiratory support technology, our goal is to set a new standard of care and to provide patients with acute respiratory distress syndrome an opportunity to maintain spontaneous breathing and avoid the various risks associated with the use of MV. As part of our strategy to reach this goal, and in parallel to pursuing regulatory approvals, we are actively working to establish collaborations with key opinion leaders and globally ranked hospitals, to provide endorsement and early clinical adoption of our respiratory support technology in order for us to achieve strong market penetration at market launch. “.
Inspira Technologies Oxy B.H.N. Ltd. was founded in 2018 and has 89 employees. The company is located at 2 Ha-Tidhar St., Ra’anana, 4366504 Israel and can be reached via phone at +972.4.6230333 or on the web at http://www.inspira-technologies.com.
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