IR-MED Receives $500,000 Grant from the Israel Innovation Authority to Develop its Platform Technology for the Early Detection of Diabetic Foot Ulcers

Rosh Pina, Israel, July 15, 2024 (GLOBE NEWSWIRE) — IR-MED Inc., (“IR-MED” or the “Company”) (OTCQB:IRME), developer of a noninvasive artificial intelligence (AI) driven spectrographic analysis technology platform to address significant healthcare needs, announced it has received a grant from the Israel Innovation Authority (IIA) in the amount of approximately $500,000, to develop its platform technology for a new indication, a decision support device for the early detection of diabetic foot ulcers. The grant’s 13-month development timeline is proceeding on schedule with IR-MED having achieved its mid-point milestones. Computer simulations of infrared light reflectance from lesions under the skin surface have been completed, and based on these data, the Company is building the DiaSafe™ device’s hardware in accordance with the development plan agreed upon with the IIA.

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