Inspired Technologies Announces Latest Round of Financing

NORTH HUNTINGDON, Pa.--(BUSINESS WIRE)--Inspired Technologies, Inc. today announced the closing of its latest financing round. Birchmere Ventures, Cardinal Partners, Draper Triangle Ventures and Innovation Ventures have joined in funding the company’s next stage of growth. Inspired Technologies, founded in May 2005 as COPD Partners, anticipates deploying the proceeds to fuel its current product launch and accelerate its technology pipeline of innovative respiratory products.

The Pittsburgh-based company’s home oxygen liquefaction technology is enabling Home Oxygen Providers to reposition their businesses and adopt an aggressive growth strategy in an era of competitive pricing with rapid patient growth. Recently the company gained FDA approval for its VIAspire™ Liquefier, which produces liquid oxygen in the home. Approval is pending for the companion VIAspire™ Oxygen Portables with proprietary SmartDose™ technology.

Commenting on the financing, Dan Easley, president and CEO of Inspired Technologies, said, “Every one of our investors brings outstanding insight and experience in home care technologies and early stage innovation development. The company is looking forward to tapping into these resources as it introduces the VIAspire™ Personal Oxygen System and ramps up its growth.”

“It’s been very exciting to see Inspired Technologies’ progress to date, and this round of financing completes a strong position for future growth,” added Ned Renzi of Birchmere Ventures. “We’re looking forward to improving the lives of COPD patients and strengthening the providers’ business model.”

Inspired Technologies’ innovative oxygen liquefaction and patient-delivery technologies establish a new standard of home respiratory care for COPD patients, while offering home oxygen providers a way to strengthen their business model. These devices improve the COPD patient’s saturation, ambulatory ability and overall quality of life, leading to better patient outcomes. Inspired Technologies’ products uniquely align the interests of patients, home medical equipment providers, clinicians and payers. For more information, see the company’s web site at www.inspiredtechnologiesinc.com.