- Therma Bright’s (THRM) partner, Israeli medical device startup Inretio, is moving to a new manufacturing facility
- The facility is based in Sapirim Industrial Park, which will support the manufacturing of the PREVA device
- PREVA helps remove blood clots for ischemic stroke treatments
- The new10,700 square foot facility will scale up device production from 500 units to 5,000 units per month
- Therma Bright (THRM) is up 5.26 per cent, trading at $0.10 per share as of 2:16 p.m. EST
Therma Bright (THRM) announced that its partner Israeli medical device startup, Inretio, is moving to a new manufacturing facility.
The facility is based in Sapirim Industrial Park, which the company stated is a hub for major technology and medical devices companies.
Inretio has been developing its PREVA device, which helps remove blood clots for ischemic stroke treatments, and the new facility will help manufacture this device.
According to THRM, the facility is 10,700 square feet and has dedicated spaces and equipment to support PREVA research and development, manufacturing, and quality control. Specifically, the new facility is designed to scale up the production of PREVA from 500 units to 5,000 units per month.
Facility provides more autonomy for partner
“Having our own manufacturing facility is a game-changer for us,” Raviv Vine, CEO of Inretio, said. “It will enable us to produce our PREVA device at scale, which is critical as we move towards clinical trials and potential commercialization.”
THRM shared it has been advancing the device, which has shown “promising results” from an ongoing animal study, which is expected to be completed during its second quarter.
“This expansion into a new space with the right equipment to bring this innovative, leading-edge ischemic stroke solution to market faster is fully supported by Therma Bright,” Rob Fia, CEO of Therma Bright, added. “With initial tests wrapping up and preparation for human trial approval and clinical study, the new site offers the right environment for the Inretio team’s success.”
Therma Bright (THRM) is up 5.26 per cent, trading at $0.10 per share as of 2:16 p.m. EST