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InspireMD Announces Year-to-Date 2011 Progress
Date:5/17/2011

TEL AVIV, Israel, May 17, 2011 /PRNewswire/ -- InspireMD, Inc. (OTC BB: NSPR) ("Inspire" or the "Company"), the developer of the MGuard™ mesh protective stent system, today announced that it has filed its Form 10-Q for the three months ended March 31, 2011 with the U.S. Securities and Exchange Commission. The Company provided an update on progress year-to-date:

Fiscal Year-to-Date Highlights

  • During March and April 2011, InspireMD completed financing transactions totaling $11.1 million, comprised of $10.4 million in cash and $0.7 million worth of debentures that were converted.
  • InspireMD announced a distribution agreement with Indian distributor, Kirloskar Technologies (KTPL), making MGuard available in India. KTPL has already closed an initial order for the MGuard stent in India.
  • InspireMD scheduled a cocktail reception and scientific symposium in conjunction with the Company's appearance at the EuroPCR conference. The symposium is scheduled for Wednesday, May 18th at 6:30 p.m. adjacent to the EuroPCR conference at the Concorde Lafayette Hotel, Paris, Grande Etoile D'Or Hall.  The symposium will be chaired by Dr. Martin Leon and the meeting faculty includes Drs. Alexandre Abizaid, Antonio Colombo, Dariusz Dudek, Eberhard Grube, Chaim Lotan, Sigmund Silber.

Dr. Asher Holzer, Co-Founder of InspireMD and the Company's President, commented, "We have made tremendous progress thus far during 2011 in being able to develop and commercialize our patent-pending mesh net technology. This mesh net wraps a stent, providing embolic protection and filtering debris to prevent major adverse cardiac events and reducing vessel injury by spreading strut pressure. Our recently completed financings provide us with the resources to pursue approval with the United States Food and Drug Administration (FDA) to sell our product in the United States and to further develop additiona
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