Inspiration Healthcare Group PLC (LON:IHC) has announced that ‘Project Wave’, which is developing a novel technology for a respiratory device designed to be used in neonatal intensive care, has been awarded a grant towards the cost of trials expected to commence this year on 20 babies at Trevor Mann Unit, Brighton & Sussex University Hospital.
The global medical technology company said the Med Tech Trials Innovation Support Grant (MTT-ISG) has been awarded by the Academic Health Science Networks (AHSN) and part-financed by the European Regional Development Fund (ERDF) will contribute up to 50% (£50,000 maximum) towards the costs of the trials.
READ: Inspiration Healthcare Group chief executive delighted with first quarter performance
Project Wave is being developed by Inspiration Healthcare after it entered into a licence agreement in 2019 with a major University in California, USA. In March 2020, the technology behind Project Wave was granted a patent by the US Patent Office.
The Academic Health Science Network (AHSN) was established by NHS England in 2013 to spread innovation at pace and scale in the UK, improving health and generating economic growth.
In a statement, Neil Campbell, chief executive officer of Inspiration Healthcare commented: "We are delighted to receive this important grant which shows confidence in the technology and research in the important area of respiratory support of the newborn.
"The trial will allow us to gather important data to validate the efficacy of this new and unique respiratory device. It's also tremendous opportunity for our team to have worked so closely with the AHSN on this trial which ultimately will facilitate how we introduce the device into the UK and Internationally."