Envizion Medical (TASE: ENVM) reported to the Tel Aviv Stock Exchange this morning that it had completed development of a special feeding tube for infants and premature babies, and that it was starting to prepare for a clinical trial with a view to obtaining US Food and Drug Administration (FDA) for use of the device on babies in the US. The company expects that the results of the trial will be received in the course of 2022.
Investors have responded enthusiastically to the report, and Envizion Medical's share price is up by more than 8% this morning.
Envizion Medical produces and sells advanced electromagnetic navigation systems that assist medical teams in introducing enteral feeding tubes into the body efficiently and safely, avoiding medical risks and complications. The special tube for feeding infants and premature babies has a diameter of just 2 millimeters, thanks to miniaturization of the navigation sensor and its incorporation into the tube.
The company estimates that 50% of the feeding tubes inserted into infants and premature babies are inserted incorrectly, as the current prevailing insertion method is blind. Envizion medical's solution is based on its ENvue system that uses sensors and a navigation system for introducing a feeding tube into the body. The system is currently in use at seventeen hospitals in the US.
In September last year, Envizion Medical CEO and co-founder Dr. Doron Besser said that since the outbreak of the Covid-19 pandemic, use of the company's feeding tubes in US hospitals had risen 40%, among other things because of the sharp rise in the number of comatose patients and patients on ventilators.
Dr. Besser said that the development of special feeding tubes for infants and premature babies was "a breakthrough for many families, and for infant and premature baby wards throughout the world," adding, "As far as the company is aware, this is the first feeding solution with navigation capability for infants and premature babies in existence."
Published by Globes, Israel business news - en.globes.co.il - on October 18, 2021.
Copyright of Globes Publisher Itonut (1983) Ltd. 2021.