Innohale Provides Affordable & Accessible iNO Therapy
2021-11-09
According to Rock Health, the funding raised for healthcare startups in the first half of 2021 has already reached $14.7 Billion; more than the entire year of 2020. While this number is only based on data from the US SEC, it is reasonable to assume that this trend also happens globally. This year too, the winner of the InnoVEX Pitch Contest is a startup in the healthcare industry: Innohale Therapeutics. Based in Israel, their main technology aims to provide the much needed, but often scarce and expensive inhaled nitric oxide (iNO) therapy anywhere it is needed.
Research and Markets also stated that the estimated market value of iNO therapy in 2019 was USD 634.4 million and will reach approximately USD 1.2 billion in 2027, but a combination of factors might rapidly increase this value dramatically. Currently iNO therapy is used mainly to treat patients with pulmonary hypertension and hypoxemia. When inhaled, the nitric oxide gas will relax smooth muscle to widen (dilate) blood vessels, especially in the lungs.
The gas is also the gold standard for treating respiratory failure in premature babies (blue baby syndrome) and some studies also show that iNO therapy has the potential to treat patients that suffer from COVID-19. Indeed, the situation is improving in many countries, the risk of contracting COVID-19 still exists. While treatments do exist and have helped many to recover, any technology or solution that can facilitate the treatment can help the overburdened medical care system around the world.
In the InnoVEX Online 2021 Pitch Contest, Innohale was represented by Dr. Dan Rappaport. As the CEO, he shared his team's vision of making iNO therapy as accessible & simple as oxygen concentrators. As an expert with more than 20 years of experience in the development of medical technologies, Dr. Rappaport shared that currently iNO therapy is only available in ICUs of a few hospitals that can support the complex logistics as well as trained staff or caregivers.
Access to the lifesaving therapy is further limited due to its high price and complicated logistics. As a result; there is a scarcity due to availability as well as lack of access due to economic limitations. Dr. Rappaport believes Innohale Therapeutics' can circumvent the present problems with their PowerNO solution which can extract nitric oxide (NO) gas from ambient air in precise doses without the need for specific technical skills, high price tag, or complex logistics requirements.
Foregoing the need of the heavy and bulky canisters also provides higher mobility and convenience for the users, making the therapy possible in community clinics & health centers as well as home use. This feature also expands the possibility of providing iNO therapy to places previously unreachable by the transport logistics.
Innohale's products and solutions focus on delivering NO to their intended recipients through multiple methods. While the tankless solution might take time until it is available everywhere, the team also offers NO canister refilling solution that can be installed in existing locations such as hospitals, supply hubs, or even mounted on a truck for a more mobile solution. This way heavy users who need a steady supply of NO can have their own in-house refilling station while mobile refilling services can be deployed when a particular location has an urgent need of NO canisters.
Innohale Therapeutics' performance in the InnoVEX Pitch Contest impressed the judges as stated by the chief judge for the InnoVEX 2021 Pitch Contest: Mr. David Weng, the CEO of Taiwania Capital. Representing the panel, he remarked that the Innohale team was able to provide an innovative solution to a very complex problem. He continued that the impact that Innohale can provide will be global, especially after the pandemic.
As the winner of the InnoVEX Pitch Contest, the Innohale team won USD 20,000 worth of prizes; including USD 10,000 cash prize, online promotion from the exhibitors, as well as 1 standard booth for InnoVEX 2022.
After the Pitch Contest, Innohale also joined the InnoVEX Matchmaking Session where they matched with several VCs from Taiwan and abroad.
Learn more about Innohale and more InnoVEX ONLINE exhibitors here.
Look forward to more updates from InnoVEX
InnoVEX ONLINE 2021 matchmaking may have ended, but this is far from the end of it. Operating for the whole year, the InnoVEX ONLINE platform is active 24/7 and visitors can check out the exhibitors at any time and even contact them directly through the PinChat function built into the platform. There will also be news from InnoVEX regularly that will be published and sent via the weekly InnoVEX Tech Startup News digital newsletter. The content will also include highlighted exhibitors, pavilions, and other features of InnoVEX ONLINE 2021. Subscribe to the InnoVEX Tech Startup News here and never miss an update from InnoVEX.
InnoVEX 2022 is now open for Registration
In addition to the online platform, the 2022 InnoVEX onsite exhibition will take place in Taipei, Taiwan from May 24-27,2022. Online registration for both the hybrid exhibition or the InnoVEX ONLINE platform have started for global exhibitors. For more info or registration details, please click here.
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