OPKO Completes Acquisition of Inspiro Medical Ltd.
MIAMI -- May 22, 2014
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
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
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
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