May 22, 2014 9:29am EDT
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MIAMI--(BUSINESS WIRE)--
OPKO Health, Inc. (NYSE: OPK )
announced that it has completed the acquisition of Inspiro Medical Ltd.
(“Inspiro”), an Israeli medical device company developing a new platform
to deliver small molecule drugs such as corticosteroids and beta
agonists or larger molecules to treat respiratory diseases. Inspiro’s
Inspiromatic™ is a “smart” easy-to-use dry powder inhaler with several
advantages over existing devices.
In a recently completed, First In Man double blinded clinical study
conducted in 30 asthmatic children comparing Inspiromatic™ to a market
leading dry powder inhaler, Inspiromatic™ demonstrated superior
pulmonary delivery of the active drug.
About Inspiromatic
Inspiromatic™ offers improved drug deposition to the lower airways of
patients and real time data for patient compliance monitoring. The
device has an internal microcontroller and flow sensor that controls the
delivery of the medication and, using micro-pump technology, dispenses
the drug particles at the right speed without the need for forceful
inhalation. It also provides instant feedback to the patient with a
green or red flasher light to indicate proper inhalation and a beeper
after the dose has been delivered. For physicians, Inspiromatic™
provides a built-in logger that stores patient use data for easy access
and transmission by electronic devices such as smart phones.
About OPKO Health, Inc.
OPKO is a multinational biopharmaceutical and diagnostics company that
seeks to establish industry leading positions in large, rapidly growing
markets by leveraging its discovery, development and commercialization
expertise and novel and proprietary technologies.
This press release contains "forward-looking statements," as that
term is defined under the Private Securities Litigation Reform Act of
1995 (PSLRA), which statements may be identified by words such as
"expects," "plans," "projects," "will," "may," "anticipates,"
"believes," "should," "intends," "estimates," and other words of similar
meaning, including statements regarding the expected benefits of the
acquisition of Inspiro Medical, the expected benefits of the
Inspiromatic™ inhaler, whether it will offer improved drug deposition to
the lower airways of patients and real time data for patient compliance
monitoring, whether it will provide superior delivery of active drug
over other inhalers, whether it will play a valuable role in the
improvement of therapy for asthma, chronic obstructive pulmonary
disease, cystic fibrosis and other respiratory diseases, whether the
Inspiromatic™ or any of OPKO’s drugs or other products under development
will ever be successfully developed or commercialized, whether the
Inspiromatic™ can improve outcomes of treatment, that earlier clinical
results of effectiveness and safety may not be reproducible or
indicative of future results, that the Inspiromatic™ and/or any of our
compounds or products under development may fail, may not achieve the
expected results or effectiveness and may not generate data that would
support the approval or marketing of products for the indications being
studied or for other indications, that currently available
over-the-counter and prescription products, as well as products under
development by others, may prove to be as or more effective than our
products for the indications being studied, as well as other
non-historical statements about our expectations, beliefs or intentions
regarding our business, technologies and products, financial condition,
strategies or prospects. Many factors could cause our actual activities
or results to differ materially from the activities and results
anticipated in forward-looking statements. These factors include those
described in our filings with the Securities and Exchange Commission,
that the various conditions to the closing of the transaction with
Inspiro Medical may not be met, as well as risks inherent in funding,
developing and obtaining regulatory approvals of new,
commercially-viable and competitive products and treatments. In
addition, forward-looking statements may also be adversely affected by
general market factors, competitive product development, product
availability, federal and state regulations and legislation, the
regulatory process for new products and indications, manufacturing
issues that may arise, patent positions and litigation, among other
factors. The forward-looking statements contained in this press release
speak only as of the date the statements were made, and we do not
undertake any obligation to update forward-looking statements. We intend
that all forward-looking statements be subject to the safe-harbor
provisions of the PSLRA.
OPKO Health, Inc.
Steven D. Rubin or Adam Logal, 305-575-4100
Source: OPKO Health, Inc.
Released May 22, 2014
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