Project Wave awarded Innovation Support Grant

RNS Number : 5755P

Inspiration Healthcare Group PLC

11 June 2020

 

("Inspiration Healthcare", the "Company" or the "Group")

PROJECT WAVE awarded  a 

Med Tech Trials Innovation Support Grant by

The Academic Health Science Network

Inspiration Healthcare Group plc (AIM: IHC), the global medical technology company is delighted to announce that "Project Wave" which is developing a novel technology for a respiratory device designed to be used in neonatal intensive care has been awarded a grant towards the cost of trials expected to commence this year on 20 babies at Trevor Mann Unit, Brighton & Sussex University Hospital.  

The Med Tech Trials Innovation Support Grant (MTT-ISG) has been awarded by the Academic Health Science Networks (AHSN) and part financed by the European Regional Development Fund (ERDF) will contribute up to 50% (£50,000 maximum) towards the costs of the trials.

Project Wave is being developed by Inspiration Healthcare after it entered into a licence agreement in 2019 with a major University in California, USA. In March 2020, the technology behind Project Wave was granted a patent by the US Patent Office.

The Academic Health Science Network (AHSN) was established by NHS England in 2013 to spread innovation at pace and scale in the UK, improving health and generating economic growth.

Neil Campbell, Chief Executive Officer of Inspiration Healthcare commented: "We are delighted to receive this important grant which shows confidence in the technology and research in the important area of respiratory support of the newborn.  The trial will allow us to gather important data to validate the efficacy of this new and unique respiratory device. It's also tremendous opportunity for our team to have worked so closely with the AHSN on this trial which ultimately will facilitate how we introduce the device into the UK and Internationally."

Enquiries:

Inspiration Healthcare Group plc Neil Campbell, Chief Executive Officer Mike Briant, Chief Financial Officer Jon Ballard, Financial Controller	Tel: [phone]
Nominated Adviser & Broker Cenkos Securities plc Mark Connelly Stephen Keys Cameron MacRitchie	Tel: [phone]
Cadogan PR  Alex Walters [e-mail]	Tel: [phone]

About Inspiration Healthcare   http://www.inspiration-healthcare.com

Inspiration Healthcare is a global provider of medical technology for use in critical care & operating theatres. The Company provides high quality innovative products to patients around the world which help to improve patient outcomes and it actively invests in innovative product opportunities and disruptive technologies.

Through investment in research and development the Company has 6 key own brand products that can be used within the first 6 hours of life to help premature and sick babies; helping with assessment, resuscitation, stabilisation as well as preventing brain damage. Additionally the Company has its own range of products for maintaining normothermia pre- during and post-surgery.

With product availability extending to over 50 countries through a distribution network, Inspiration Healthcare's success has been built on continuous innovation, excellent customer service and an inherent commitment to improving patient outcomes, working in close collaboration with key opinion leaders across the globe. In the UK and Ireland the Company has a direct sales team selling Inspiration Branded and complementary products from third parties, with an additional range of home healthcare products. This is supported by Technical Support for planned preventative maintenance and emergency assistance. Further information on Inspiration Healthcare can be seen at www.inspiration-healthcare.com

 

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