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Inspiration Healthcare receives approval for clinical testing of Project WAVE respiratory device

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Inspiration Healthcare Group PLC (LON:IHC) said it has received confirmation from the UK’s Medicines and Healthcare products Regulatory Agency (MHRA) to proceed with clinical testing for Project WAVE, a respiratory device it has designed for use in neonatal intensive care.

The AIM-listed firm said initial trials are now expected to begin in the next few months at the Trevor Mann Baby Unit at Brighton & Sussex University Hospital, adding that it has acquired the technology for Project WAVE, a non-invasive device to support breathing in premature infants, under a 2018 licence agreement from a US West Coast University with the project granted a patent by the US Patent Office in March.

WATCH: Inspiration Healthcare Group says maiden dividend is due to ‘company reaching its maturity’

“We are delighted to have passed this regulatory hurdle and getting Wave one step further in its development and are all looking forward to beginning our work with the neonatal team at the Royal Sussex to demonstrate the efficacy of this important new technology and approach in neonatal care”, Inspiration chief executive Neil Campbell said in a statement.

Shares in the company rose 1.6% to 81.8p in early deals on Monday.

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