Opko acquires smart inhaler co Inspiro for $10m

Inspiromatic offers improved drug delivery and real time data for patient monitoring.

Opko Health Inc. (NYSE: OPK; TASE: OPK) has acquired Inspiro Medical Ltd., which is developing a new platform to deliver small molecule drugs, such as corticosteroids and beta agonists, or larger molecules for the treatment of respiratory diseases. Inspiro’s Inspiromatic device is a “smart” easy-to-use dry powder inhaler with several advantages over existing devices. Opko says it is paying $1 million cash and $9 million in shares. Inspiro has raised several million dollars to date and Trendlines is its largest shareholder.

Inspiromatic offers improved drug deposition to the lower airways of patients and real time data for patient compliance monitoring. The device has an internal microcontroller and flow sensor that controls the delivery of the medication and, using micro-pump technology, dispenses the drug particles at the right speed without the need for forceful inhalation. It also provides instant feedback to the patient with a green or red flasher light to indicate proper inhalation and a beeper after the dose has been delivered. The device gives doctors a built-in logger that stores patient use data for easy access and transmission by electronic devices such as smartphones.

A clinical study on 30 asthmatic children comparing Inspiromatic to a market leading dry powder inhaler, Inspiromatic demonstrated superior pulmonary delivery of the active drug.

Inspiro was founded by Inspiro CEO Nimrod Kaufmann. The company's device was invented by Dr. Guy Steuer. It largest shareholder is Trendlines International Ltd.

"We are pleased to add this next generation inhaler to Opko's growing product portfolio. We expect this innovative device to play a valuable role in the improvement of therapy for asthma, chronic obstructive pulmonary disease, cystic fibrosis and other respiratory diseases. We plan to use the Inspiromatic device to test the inhaled form of Opko’s new sulfated disaccharide drug against these disorders," said said Opko chairman and CEO Dr. Phillip Frost.

"This drug product is still undergoing pre-clinical testing prior to submission of an investigational new drug application, but animal data indicates safety and efficacy for both inhaled and orally delivered forms. Of course, we believe that Inspiromatic can improve outcomes of treatment with other drugs, those presently available in more “standard” type inhalers, as well as new inhalation drugs being developed. This acquisition fits our strategy of developing new products that address large markets in need of more effective therapeutic solutions,"

Kaufmann said, “We are extremely proud of Inspiro’s success in bringing our smart Inspiromatic respiratory drug-delivery device to market."

Trendlines Medical CEO Eran Feldhay said, “The acquisition of Inspiro is our third exit in eight months, all to U.S.-based multinational corporations. This success brings continuing confirmation of the strength of the Trendlines team in fulfilling our vision of creating and developing companies to improve the human condition. We are very pleased to see Opko take the Inspiro opportunity forward.”

This is Opko's fourth acquisition in Israel.

Published by Globes [online], Israel business news - www.globes-online.com - on April 22, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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