InfraRed Imaging Systems, Inc. Information

InfraRed Imaging Systems, Inc.’s (INRIS) first product, the VascularViewer®, uses near infrared light to generate highly accurate, real-time images of veins and arteries. The device and its companion Disposable Light Source (DLS) provide detailed x-ray like imaging that allows clinicians to more accurately and efficiently insert needles and catheters for peripheral intravenous access and for arterial access procedures. Use of the VascularViewer will improve quality of careand reduce patient pain as well as reduce costs through reductions in 1) clinician time, 2) materials use, and 3) use of more complication- prone, expensive and advanced procedures. The product is fully ready to sell, and all regulatory requirements have been met. Vascular access is the most commonly performed invasive procedure in healthcare, with over 1.4 billion procedures estimated to be performed annually in the US. Industry and literature sources indicate that it takes on average 2.5 attempts in adults to successfully place a peripheral IV catheter. Missed “sticks” and outright failures increase hospital costs by increasing clinician labor and materials costs. The addressable market for the current version of the VascularViewer is $2.4 billion annually (133 million procedures annually). INRIS has identified at least 10 hospital departments where the VascularViewer can be used. INRIS is highlighting pediatric applications in its product launch, since the VascularViewer provides imaging capabilities in infants and pediatric patients that cannot be matched by competitive products, and, in the case of PICCs and arterial imaging, simply has not been available before. A Generation II device, which will be suitable for all vascular access procedures in adults has already been prototyped and will add $3 billion to the addressable market. INRIS is seeking additional capital for marketing, sales and general operations.