Inspiration Healthcare Group PLC (LON:IHC) told investors it has sought permission to start trials for a respiratory device designed for use in neonatal intensive care.
The technology for the device, referred to as Project WAVE, was acquired in 2018 by Inspiration under licence from a leading US west coast university. The technology was granted a patent in March 2020.
READ: Inspiration Healthcare optimistic on the prospects
An application has been submitted through the Integrated Research Approval System (IRAS), requesting to start the trial at the Trevor Mann Baby Unit, Brighton & Sussex University Hospital.
"We are pleased to have submitted this application and moving the project on to the next phase,” Neil Campbell, Inspiration chief executive said in a statement.
“The Project WAVE device we have developed incorporates the latest findings in neonatal respiration from a leading US West Coast University with Inspiration Healthcare's experience and knowledge in designing and manufacturing neonatal devices which improve medical outcomes.
“Once our submission gets the green light, which we expect in a few months, we look forward to working with the team at the Royal Sussex and getting the project one step closer to fruition," he added.
The company noted that Project WAVE received a grant towards the cost of the trail, awarded in June, with the European Regional Development Fund (ERDF) contributing up to 50%, capped at £50,000.