IR-Med’s PressureSafe Noninvasive Wound Care Device to be Demonstrated at Northwell Health’s 10th Annual Shining the Light on Wound Care Symposium

• A 94.7% accuracy in identifying Stage 1 pressure injuries was achieved in a proof-of-concept device upon which PressureSafe is based
• Company to exhibit and demo its “sense the invisible” handheld medical device set to transform pressure injury detection and treatment

Rosh Pina, Israel, May 19, 2023 (GLOBE NEWSWIRE) -- IR-MED Inc., (“IR-MED” or the “Company”) (OTCQB:IRME), developer of a noninvasive AI-driven spectrographic analysis technology platform to address significant healthcare needs, announced today it will exhibit and conduct live demonstrations of its PressureSafe wound care device at Northwell Health’s 10th Annual Shining the Light on Wound Care Symposium on May 19, 2023 at the TWA Hotel at JFK International Airport in New York.

PressureSafe, which is showing high accuracy in noninvasively identifying Stage 1 pressure injuries in current useability studies, will be presented to over 250 wound specialists including podiatrists, endocrinologists, internists, vascular and plastic surgeons, family practitioners, registered nurses, physical therapists, nurse practitioners, registered dieticians, and physician assistants attending continuing medical education (CME) courses at the Wound Care Symposium.

Using penetrating infrared light to “look” beneath the skin’s surface, PressureSafe senses biomarkers and structural changes in tissue layers. This data is then processed using AI software to provide clinical feedback as a decision support system (DSS). The device is automatically recalibrated per each patient’s skin and tissue to create a personalized medical experience for each patient.

60,000 of the 2.5 million patients who develop pressure wounds die each year according to the National Pressure Injury Advisory Council. Early detection of pressure injuries can be challenging for all patients, particularly for minority populations. Patients with dark skin tones suffered more than twice as much as those with lighter skin according to a study published in the peer-reviewed journal Wounds because visual cues commonly associated with the identification of Stage 1 pressure wounds may not be sufficient in persons with darkly pigmented skin.

“As we prepare to launch PressureSafe in the U.S., following regulatory approval, we are engaging with the wound care community to build awareness around our device which we believe is a breakthrough in the early detection of pressure wounds and is skin-tone agnostic. Early detection can significantly improve patient wellness while also reducing cost burden and mortality,” stated Yaniv Cohen, CSO of IR-Med.

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. 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. Expected US launch: Fourth Quarter/2023, subject to relevant regulatory approvals.

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. 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

Released May 19, 2023