Rosh Pina, Israel, Aug. 21, 2024 (GLOBE NEWSWIRE) -- IR-MED Inc., (“IR-MED” or the “Company”) (OTCQB:IRME), developer of a noninvasive artificial intelligence (AI) driven spectrographic analysis technology platform to address significant healthcare needs, announced today it has been recognized for its outstanding work in the development of its platform healthcare technology for “Sensing the Invisible” and awarded “Best Up-and-Coming Health Tech Company” at the Netty Awards.
The Netty Awards celebrate achievements in the digital landscape, honoring top companies and leaders across more than 100 distinct categories. It sets a benchmark for excellence and is a testament to the creativity, innovation, and technical prowess demonstrated by the winners.
Dr. Yaniv Cohen, IR-MED’s Co-Founder and Chief Scientific Officer, commented, "We are proud and honored to be recognized by the Netty Awards. Our team has put years of work and creativity into our platform technology which we believe will enhance quality of life through the early detection of various medical conditions. We believe that the Best Up-and-Coming Health Tech Company award is a testament to our hard work and dedication.”
IR-MED’s winning entry, consisting of its technology, is a groundbreaking work designed to improve patient care through technology. By providing healthcare professionals with non-invasive, skin tone agnostic, real-time data-driven analysis of blood and tissue to identify medical conditions, the Company aims to change treatment paradigms and economics in muti-billion dollar markets. PressureSafe™, slated for launch in the second half of 2024 in the U.S., is a handheld decision support device that identifies early-stage pressure injuries with 92% accuracy, creating a novel solution to a $26.8 billion problem and driving healthcare equality for people of all skin tones. DiaSafe™, a similar decision support device for diabetic foot ulcer detection, is slated for launch in the U.S. in the second half of 2025, and is being developed to address the $10.5 billion global diabetic foot ulcers treatment market, which is expected to grow to $17.1 billion by 2031.
According to the National Pressure Injury Advisory Panel, in the U.S. alone, 60,000 patients die every year as a direct result of pressure injuries. Patient care cost per pressure injury ranges from $20,900 up to $151,700, for the 2.5 million patients per year who develop pressure injuries. Pressure injuries are one of the five most common harms experienced by patients and the second most common claim for lawsuits after wrongful death.
About IR-MED
IR-MED Inc., is developing a noninvasive spectrographic analysis technology platform, allowing healthcare professions to detect, measure and monitor, in real time, different molecules in the blood, in human tissue, and in body fluids without invasive procedures. PressureSafe, the first product under development, is a handheld optical monitoring device that is being developed to support early detection of pressure injuries (PI) to the skin and underlying tissue, regardless of skin tone as it calibrates personally to each patient’s skin.
IR-MED’s technology is being developed to allow accurate readings of biomarkers in a non-invasive method, that may provide caregiver the optimal decision support-system in cases where uncertainties disturb physicians in their decision processes.
IR-MED holds patents protecting its technology and innovations in the noninvasive tissue analysis, and in the modeling and analysis of subcutaneous tissue.
PressureSafe is currently undergoing usability studies at multiple medical centers.
Safe Harbor Statement / Forward-Looking Statements
Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For example, IR-Med is using forward-looking statements when it discusses the ability of the its platform technology to enhance quality of life through the early detection of various medical conditions, its belief that the award is a testament to its hard work and dedication and the expected launch dates for its devices. Statements relating to the future performance of IR-Med are subject to many factors including, but not limited to, the sufficiency or working capital and our ability to raise the capital needed to fund our development efforts, completion of the development and design of PressureSafe device, results of clinical/useability studies and trials, timing of product development, FDA approval/clearance of products in development, customer acceptance of our products in the market, the introduction of competitive products, the impact of any product liability or other adverse litigation, commercialization and technological difficulties, and the other risks identified in our most recent annual report on Form 10-K/A filed on April 8, 2024 with the Securities and Exchange Commission. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information, or otherwise.
Contact:
Sharon Levkoviz, Chief Financial Officer
Tel: +972 (0) 4 6555054
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