Why The Inspira Technologies Oxy Stock Surged 50.81% (IINN)

By Amit Chowdhry ● Jan 24, 2023
  • The stock price of Inspira Technologies Oxy (IINN) surged by 50.81% in the most recent trading session. This is why.

The stock price of Inspira Technologies Oxy (IINN) surged by 50.81% in the most recent trading session.

Why: Inspira Technologies announced that the novel convertible dual lumen cannula device and method of use, being developed for the INSPIRA ART System, has been granted a patent by the U.S. Patent and Trademark Office (USPTO). The patent approval includes 20 claims that were found to be novel, with inventive step and industrial applicability.

Based on the U.S. patent grant, the company plans to file for similar patents in additional countries. And thecCompany expects to integrate the convertible dual lumen cannula with additional Inspira products in the future. In addition, the Company may consider the future commercialization of the convertible dual lumen cannula separately as a disposable product.

A dual lumen cannula is a medical disposable device often used for the simultaneous venous drainage and reinfusion of blood during processes such as, but not limited to, extracorporeal membrane oxygenation (ECMO) in Intensive Care Units (ICUs). And the dual lumen cannula is a single tube with two separate inner channels or “lumens” and requires only a single incision point.

Inspira Technologies’ convertible dual lumen cannula device uniquely intravascularly converts a single-lumen cannula into a dual lumen cannula after initial insertion, which allows for the same incision point to potentially have multiple uses. And the convertible dual lumen cannula is designed to allow for switching from a single lumen to a dual lumen cannula, and vice versa, without the need for new incisions required when changing or adding additional cannulas. The Inspira Technologies convertible dual lumen is designed to potentially allow for fast action and reduced risk, complications and additional infection points.

Enhances Usability and Medical Value of the INSPIRA ART System

The newly patented convertible dual lumen cannula is expected to be a core component of the INSPIRA ART system, a potential new mode of acute respiratory care under development, designed to reduce the need for invasive mechanical ventilation allowing the patient to remain awake and maintain spontaneous breathing.

And the dual lumen cannula device is planned to be utilized during INSPIRA ART treatment with awake patients, potentially facilitating a safer and more comfortable cannulation procedure. For example, by inserting the INSPIRA ART convertible dual lumen in the jugular vein located in the neck, we believe that this will potentially contribute to patient benefits and enhance the INSPIRA ART system’s usability and comprehensive medical value to both patients and medical staff.

KEY QUOTE:

“The novel, and now patented, convertible dual lumen cannula device represents another step forward in the delivery of new technologies designed to be simple and scalable. In today’s market, dual lumens are extremely expensive to manufacture. Therefore, Inspira Technologies believes that the new device can provide the medical market with a more affordable solution, which could contribute to patient safety, procedural efficiency, and reduced risks and complications.”

— CEO of Inspira Technologies Dagi Ben-Noon