Inspira Technologies More Than Double After Distribution Pact For ART Systems In Eastern Europe

Inspira Technologies OXY BHN Ltd IINN has signed an exclusive summary distribution agreement with Innovimed Sp. z o.o, a master distributor specializing in medical solutions in Eastern Europe, the Middle East, and Africa. 

• A more comprehensive agreement will follow the summary distribution agreement.
• The agreement follows the distribution agreement signed last month with WAAS Group for a potential $66 million in Spain & Portugal. 
• Related Link: Why Did Inspira Technologies Stock Quadruple Today?
• The agreement entered has an initial term of 7 years and targets $108 million. The parties will collaborate on the marketing and deployment of the ART device. 
• The ART, an early extracorporeal respiratory support system, can minimize the need for invasive mechanical ventilation, with an intent to function as an "Artificial Lung" for deteriorating respiratory patients.
• According to the agreement, Innovimed has committed to purchase minimum orders of 1,552 ART devices and 59,040 disposable units for deployment at hospitals and medical centers in Poland, the Czech Republic, and Slovakia.
• Price Action: IINN shares are up 117.5% at $5.85 during the premarket session on the last check Thursday.