IR-MED Awarded Most Innovative Non-Invasive Diagnostics Technology Developer 2023 by Corporate Vision Magazine

PressureSafe, for the early detection of pressure injuries, addresses a healthcare challenge that costs $26.8 billion and causes 60,000 deaths annually in the U.S. alone
Non-invasive device to augment visual inspection found to be more than 90% accurate in detecting pressure injuries

Rosh Pina, Israel, Dec. 21, 2023 (GLOBE NEWSWIRE) -- IR-MED Inc., (“IR-MED” or the “Company”) (OTCQB:IRME), developer of a noninvasive artificial intelligence (AI) driven spectrographic analysis technology platform to address significant healthcare needs, announced today it has been awarded the “Most Innovative Non-Invasive Diagnostics Technology Developer 2023 – Israel” by UK-based Corporate Vision Magazine for the Company’s PressureSafe^™ device and technology platform.

Corporate Vision’s Small Business Awards aim to be a beacon of light for businesses that make an incredible contribution to their clients and customers by shaping their industries and bringing something unique to the market.

Awards Coordinator Jessie Wilson commented on the success of IR-MED and others recognized in this year’s program, “Our Small Business Awards showcase sublime examples of businesses from those with a wide range of services to those serving singular niche markets, and I couldn’t be happier to have worked with such a fine selection of small businesses. Wishing you a fantastic end to 2023, and a monumental 2024 to come.”

“Our groundbreaking technology platform, and specifically our PressureSafe device, are increasingly being recognized by medical practitioners and technologists for its potential to make a significant contribution in healthcare by reducing the risk and severity of pressure injuries,” stated Tzur Di-Cori, IR-MED’s CEO. “We look forward to launching PressureSafe in the U.S. in 2024.”

PressureSafe, an innovative non-invasive medical device that uses infrared optical spectroscopy and AI, is designed to effectively detect early-stage pressure injuries for all skin tones. Pressure injuries cost the U.S. healthcare system $26.8 billion and lead to 60,000 deaths annually. PressureSafe was found to be 96% accurate in detecting pressure injuries based on interim results from a multicenter study. The skin-color agnostic device effectively addresses equity in healthcare by using infrared light to detect biomarker changes below the skin’s surface. PressureSafe is expected to launch in the U.S. in the first half of 2024, subject to regulatory approval.

About IR-MED

IR-MED Inc., is developing a noninvasive spectrographic analysis technology platform, allowing healthcare professions to detect, measure and monitor, in real time, different molecules in the blood, in human tissue, and in body fluids without invasive procedures. PressureSafe, the first product under development, is a handheld optical monitoring device that is being developed to support early detection of pressure injuries (PI) to the skin and underlying tissue, regardless of skin tone as it calibrates personally to each patient’s skin.

IR-MED’s technology is being developed to allow accurate readings of biomarkers in a non-invasive method, that may provide caregiver the optimal decision support-system in cases where uncertainties disturb physicians in their decision processes.

IR-MED holds patents protecting its technology and innovations in the noninvasive tissue analysis, and in the modeling and analysis of subcutaneous tissue.

PressureSafe is currently undergoing usability studies at multiple medical centers. It is not yet available for commercial use.

Safe Harbor Statement / Forward-Looking Statements

Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For example, IR-Med is using forward looking statements when it states that its technology platform, and specifically the PressureSafe device, are increasingly being recognized by medical practitioners and technologists for its potential to make a significant contribution in healthcare by reducing the risk and severity of pressure injuries and that PressureSafe is expected to launch in the U.S. in the first quarter of 2024, subject to regulatory approval. Statements relating to the future performance of IR-Med are subject to many factors including, but not limited to, the sufficiency or working capital and our ability to raise the capital needed to fund our development efforts, completion of the development and design of PressureSafe device, results of clinical/useability studies and trials, timing of product development, FDA approval/clearance of products in development, customer acceptance of our products in the market, the introduction of competitive products, the impact of any product liability or other adverse litigation, commercialization and technological difficulties, and the other risks identified in our most recent annual report on Form 10-K filed on March 29, 2023 with the Securities and Exchange Commission. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information, or otherwise.

Contact:

Sharon Levkoviz, Chief Financial Officer

Tel: +972 (0) 4 6555054

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