IR-MED Awarded $500,000 Grant from the Israel Innovation Authority to Advance AI-Powered DiaSafe(TM) Device for Diabetic Foot Ulcer Assessment
DiaSafe
, IR-MED’s second product, is being developed to provide safe, real-time optical readings of biomarkers for assessment of diabetic foot ulcersThe most common cause of amputation, diabetic foot ulcers can be prevented with early assessment, improving patient care and healthcare economics in a
$10 billion global treatment market$500,000 grant underscores continued confidence in IR-MED’s noninvasive “Sensing the Invisible” technology platform
Rosh Pina, Israel–(Newsfile Corp. – May 5, 2025) – IR-MED Inc. (OTCQB: IRME) (“IR-MED” or the “Company”), a developer of noninvasive artificial intelligence (AI)-driven spectrographic technology to address critical healthcare challenges, today announced that the Company has received a third grant from the Israel Innovation Authority (“IIA”). This grant, totaling approximately $500,000, was awarded following a rigorous peer review process, further demonstrating the IIA’s continued confidence in IR-MED’s groundbreaking technology.
This latest grant will support the ongoing development of IR-MED’s platform technology for a new indication, a decision support device for the assessment of diabetic foot ulcers. The IIA funding will support the next stage of the development of the DiaSafe
, and includes a total budget of $1.24 million, with 40% funded by the IIA. We believe that this sustained support by the IIA underscores the importance of IR-MED’s work in enhancing clinical decision-making for diabetic foot ulcers, a condition that affects millions worldwide and often leads to severe complications, including amputations.
During the development period covered by the grant, IR-MED will continue advancing the hardware and software of its DiaSafe device, aligning with the agreed-upon development roadmap. Additionally, the Company plans to initiate its first in-human clinical trial, a significant step toward bringing this innovative solution to the market.
By sensing the invisible, DiaSafe, IR-MED’s newest handheld device, is being designed to non-invasively evaluate the biomarkers of blood and tissue, at the point of care, to help healthcare professionals and caregivers better assess patients for diabetic foot ulcers. The Company believes an effective assessment device can reduce healthcare costs, save limbs, and save lives. Diabetic foot ulcers are more cost effective to manage in their initial stages. Assessing and treating diabetic foot ulcers early can significantly improve quality of life by reducing pain and increasing mobility.
Diabetic foot ulcers are a major cause of preventable death for people with diabetes, according to an article published in Diabetes Care, the journal of the American Diabetes Association. An estimated 537 million people globally have diabetes, and 19% to 34% of these, or up to 183 million people, will develop a diabetic foot ulcer during their lifetime. Of these, 20%, or up to 37 million people, will require lower-extremity amputation, and 10%, or 18 million people, will die within one year of their first diabetic foot ulcer diagnosis. Early intervention can reduce death rate associated with diabetic foot complications.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11614/250533_df9ba4c6a4a35981_002full.jpg
IR-MED’s DiaSafe is based on the same platform technology as the Company’s lead device, PressureSafe, a decision support device for the assessment of pressure injuries before skin breakage, which is U.S. Food and Drug Administration (“FDA”) listed.
“We are honored to receive continued support from the IIA for the third time,” said Ran Ziskind, Chief Executive Officer of IR-MED. “We believe that this grant serves as a strong validation of both the scientific merit and commercial potential of our proprietary sensing platform, which is engineered to assess physiological changes under the skin surface prior to skin breakdown. We remain committed to advancing our development pipeline, with the integration of DiaSafe alongside ongoing usability studies of PressureSafe in the United States.”
About Israel Innovation Authority
The Israel Innovation Authority, responsible for the country’s innovation policy, is an independent and impartial statutory public entity that operates for the benefit of the Israeli innovation ecosystem and Israeli economy as a whole. Its mission is to invest in innovation in order to promote sustainable and inclusive growth.
The Authority functions as an enabler with all things related to the Israeli innovation ecosystem. It provides conditional grants to support disruptive technological innovations as well as engaged in creating the groundwork and infrastructure to prepare for future technologies in order to maintain both technological and economical leadership as well as improve productivity and global competitiveness of the Israeli economy.
Innovation is by far the most valuable resource for the State of Israel, serving as a national asset crucial to economic prosperity. Israel Innovation Authority seeks to further develop and support technological innovation in Israel through various support tools. Its mission is to strengthen the innovation ecosystem and promote innovation, entrepreneurship, and disruptive technologies as leverage for inclusive and sustainable economic growth.
To view an enhanced version of this graphic, please visit:
Contact@ir-medical.com
mandrillapp.com/track/click/30568383/images.newsfilecorp.com?p=eyJzIjoiRE1rS3ZnaUhzSFNKTGNidmZHQk9uRl9vQWcwIiwidiI6MiwicCI6IntcInVcIjozMDU2ODM4MyxcInZcIjoyLFwidXJsXCI6XCJodHRwczpcXFwvXFxcL2ltYWdlcy… />
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250533
View more news from IR-MED, Inc.
You are receiving this email because you have previously indicated your interest in receiving news for IR-MED, Inc.
If you no longer want to receive messages from us, you can click here to unsubscribe.
Anti-Spam Policy | Privacy Policy
The post IR-MED Awarded $500,000 Grant from the Israel Innovation Authority to Advance AI-Powered DiaSafe(TM) Device for Diabetic Foot Ulcer Assessment first appeared on PressReleaseCC.
IR-MED Awarded $500,000 Grant from the Israel Innovation Authority to Advance AI-Powered DiaSafe(TM) Device for Diabetic Foot Ulcer Assessment first appeared on Web and IT News.
%20affecting%20skin%20and%20underlying%20tissue.%20Pressure%20Injury%20in%20the%20US%20alone%20accounts%20for%20%2426.8B%20in%20healthcare%20spending%20and%20results%20in%2060,000%20deaths%20annually.%20%20PressureSafe%20offers%20healthcare%20professionals%20a%20real-time%20evaluation%20of%20%20skin%20,%20regardless%20of%20patient%20skin%20tone.%20The%20potential%20assessment%20of%20pressure%20injuries%20using%20PressureSafe%20holds%20significant%20promise%20in%20addressing%20this%20widespread%20healthcare%20challenge%20and%20potentially%20reducing%20its%20burden%20worldwide.%20%3C/p%3E%0A%3Cp%3EIR-MED%20holds%20patents%20protecting%20its%20innovation%20in%20noninvasive%20tissue%20assessment.%3C/p%3E%0A%3Cp%3EPressureSafe%20is%20currently%20undergoing%20usability%20studies%20at%20multiple%20medical%20centers%20and%20is%20not%20yet%20available%20for%20commercial%20use.%3C/p%3E%0A%3Cp%3E%3Cb%3ESafe%20Harbor%20Statement%20/%20Forward-Looking%20Statements%3C/b%3E%3C/p%3E%0A%3Cp%3EStatements%20included%20in%20this%20press%20release,%20which%20are%20not%20historical%20in%20nature,%20are%20forward-looking%20statements%20made%20pursuant%20to%20the%20safe%20harbor%20provisions%20of%20the%20Private%20Securities%20Litigation%20Reform%20Act%20of%201995.%20For%20example,%20IR-Med%20is%20using%20forward-looking%20statements%20when%20it%20discusses%20the%20Company%E2%80%99s%20plans%20to%20continue%20advancing%20both%20the%20hardware%20and%20software%20of%20its%20DiaSafe%E2%84%A2%20device%20in%20alignment%20with%20a%20defined%20development%20roadmap;%20the%20Company%E2%80%99s%20plans%20to%20initiate%20its%20first%20in-human%20clinical%20trial%20for%20DiaSafe%E2%84%A2,%20marking%20a%20key%20step%20toward%20eventual%20market%20introduction;%20the%20future%20benefits%20of%20the%20DiaSafe%E2%84%A2%20product,%20including%20its%20potential%20to%20reduce%20healthcare%20costs,%20prevent%20amputations,%20and%20save%20lives%20by%20enabling%20early%20detection%20and%20treatment%20of%20diabetic%20foot%20ulcers;%20that%20DiaSafe%E2%84%A2%20is%20expected%20to%20complement%20the%20Company%E2%80%99s%20existing%20FDA-listed%20PressureSafe%E2%84%A2%20device,%20as%20part%20of%20a%20broader%20platform%20of%20AI-powered,%20noninvasive%20diagnostic%20tools;%20the%20Company%E2%80%99s%20market%20opportunities%20in%20the%20%2410%20billion%20global%20diabetic%20foot%20ulcer%20treatment%20space%20and%20commercial%20prospects%20for%20DiaSafe%E2%84%A2;%20the%20expansion%20of%20the%20Company%E2%80%99s%20product%20pipeline%20and%20clinical%20validation%20efforts,%20including%20continued%20usability%20studies%20of%20PressureSafe%E2%84%A2.%20Statements%20relating%20to%20the%20future%20performance%20of%20IR-Med%20are%20subject%20to%20many%20factors%20including,%20but%20not%20limited%20to,%20the%20accuracy%20of%20the%20Company%E2%80%99s%20estimates%20regarding%20expenses,%20future%20revenues,%20uses%20of%20cash,%20capital%20requirements%20and%20the%20need%20for%20additional%20financing;%20the%20initiation,%20cost,%20timing,%20progress%20and%20results%20of%20our%20development%20activities,%20usability%20studies,%20preclinical%20studies%20and%20any%20clinical%20trials%20that%20it%20may%20be%20required%20to%20undertake;%20the%20timing%20of%20and%20the%20Company%E2%80%99s%20ability%20to%20obtain%20and%20maintain%20regulatory%20approval%20of%20our%20existing%20product%20candidates,%20any%20product%20candidates%20that%20it%20may%20develop,%20and%20any%20related%20restrictions%20and/or%20limitations;%20the%20company%E2%80%99s%20plans%20to%20research,%20develop%20and%20commercialize%20its%20current%20and%20future%20product%20candidates;%20the%20Company%E2%80%99s%20ability%20to%20attract%20collaborators%20with%20development,%20regulatory%20and%20commercialization%20expertise;%20the%20company%E2%80%99s%20ability%20to%20obtain%20and%20maintain%20intellectual%20property%20protection%20for%20its%20product%20candidates;%20the%20Company%E2%80%99s%20ability%20to%20successfully%20commercialize%20its%20product%20candidates;%20the%20size%20and%20growth%20of%20the%20markets%20for%20its%20product%20candidates%20and%20its%20ability%20to%20serve%20those%20markets;%20the%20rate%20and%20degree%20of%20market%20acceptance%20of%20any%20future%20products;%20the%20success%20of%20competing%20devices%20that%20are%20or%20may%20become%20available;%20regulatory%20developments%20in%20the%20United%20States%20and%20other%20countries;%20the%20performance%20of%20its%20third-party%20suppliers%20and%20manufacturers%20and%20its%20ability%20to%20obtain%20alternative%20sources%20of%20raw%20materials;%20the%20impact%20of%20global%20inflationary%20pressures;%20its%20ability%20to%20obtain%20additional%20financing;%20use%20of%20the%20proceeds%20from%20its%20securities%20offerings;%20any%20restrictions%20on%20its%20ability%20to%20use%20its%20net%20operating%20loss%20carry-forwards;%20the%20impact%20of%20Israel%E2%80%99s%20multi-front%20war%20on%20its%20results,%20including%20potential%20economic%20restrictions%20imposed%20on%20and%20political%20and%20military%20instability%20in%20Israel;%20its%20ability%20to%20attract%20and%20retain%20key%20personnel,%20and%20the%20other%20risks%20identified%20in%20our%20most%20recent%20annual%20report%20on%20Form%2010-K%20filed%20on%20April%204,%202025%20with%20the%20Securities%20and%20Exchange%20Commission.%20Such%20statements%20are%20based%20upon%20the%20current%20beliefs%20and%20expectations%20of%20management%20and%20are%20subject%20to%20significant%20risks%20and%20uncertainties.%20Actual%20results%20may%20differ%20from%20those%20set%20forth%20in%20the%20forward-looking%20statements.%20The%20forward-looking%20statements%20contained%20in%20this%20press%20release%20are%20made%20as%20of%20the%20date%20hereof,%20and%20we%20do%20not%20undertake%20any%20obligation%20to%20update%20any%20forward-looking%20statements,%20whether%20as%20a%20result%20of%20future%20events,%20new%20information,%20or%20otherwise.%3C/p%3E%0A%3Cp%3EContact:%3Cbr%20/%3EHanover%20International,%20Inc.%3Cbr%20/%3EKathy%20Cusumano,%20President%3Cbr%20/%3E%3Ca%20href=){kind=link}