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InspireMD Provides Mid-Year Strategic Update
Date:8/16/2011

shipped the initial order for the MGuard™ stent to India.
  • 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 loans that were converted into common stock and warrants.

  • Dr. Asher Holzer, Co-Founder of InspireMD and the Company's President, commented, "InspireMD continues to make significant progress in developing, clinically validating and ultimately commercializing our patent-pending mesh net technology. Our presence at the EuroPCR conference in Paris in May was well-received, and the cocktail reception we hosted to celebrate the commencement of the MASTER randomized trial was attended by many industry leaders, demonstrating the significant and growing interest in our technology. We expect data from our MASTER trial, chaired by Dr. Gregg Stone, Director of Cardiovascular Research and Education from Columbia University in New York, in mid-2012, and are confident this study will drive additional adoption of our technology. In addition, we have begun the process of securing approval to sell our stents in the United States, pending approval from the United States Food and Drug Administration (FDA), which is targeted during 2014. We continue to collaborate with the Harvard Clinical Research Institute (HCRI), an international leader in design and conduct of coronary device trials, in order to obtain FDA approval."

    Mr. Ofir Paz, Co-Founder and CEO of InspireMD, commented, "In addition to our focus on the clinical data necessary to advance our efforts, we are simultaneously expanding our sales and marketing efforts in anticipation of the completion of the MASTER trial. This effort includes the recruiting of proven sales and marketing leadership to further grow our global distribution and the expansion of the sales and marketing team with the addition of proven personnel in key regions. In addition, we remain focused on innovation,
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    SOURCE InspireMD, Inc.
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