InspireMD, Inc. Appoints Patrick Jamnik as Vice President of Business Development and Strategic Initiatives and Reports

InspireMD, Inc. Appoints Patrick Jamnik as Vice President of Business
Development and Strategic Initiatives and Reports Inducement Grants Under NYSE
American Company Guide §711(a)

TEL AVIV, Israel, Oct. 06, 2020 (GLOBE NEWSWIRE) -- InspireMD, Inc. (NYSE
American: NSPR) (“Company”), the developer of the CGuard™ Embolic Prevention
System (EPS) for the prevention of stroke caused by carotid artery disease
(CAD), today announced the appointment of Patrick Jamnik as vice president,
business development and strategic initiatives. In this newly created
position, Mr. Jamnik will oversee the Company’s business development
activities and play a key role in advancing its short and long-term strategic
goals, with much of his focus being the U.S. market.

“At different times throughout my career, I have been fortunate to see the
powerful impact created when pioneering technology encounters genuine unmet
clinical needs. CGuard™ EPS presents the opportunity to create such an impact
on the advancement of carotid artery stenting,” said Mr. Jamnik. “I am
thrilled to be joining InspireMD at such an important and exciting time.”

Mr. Jamnik brings with him more than 15 years of global market development
experience in broad-based roles with both large and emerging medical
technology companies. Prior to joining InspireMD, he served in a commercial
leadership role for Stryker Corp. Before that, he served as director of global
marketing at Stanmore Implants Worldwide and played a central role in
establishing its U.S. business, contributing to its eventual acquisition by
Stryker. Mr. Jamnik received both a BA and MBA from The University of

“We welcome Patrick to the executive leadership team and look forward to his
leadership in advancing our growth through market and portfolio expansion
along with strategic initiatives to build on the success of our CGuard EPS and
Micronet platform. As we gain traction and leverage the superior clinical
results of our stent platform, we will continue to develop new strategic
pathways for growth,” said Marvin L. Slosman, chief executive officer of

InspireMD also today announced that the Company has granted Patrick Jamnik,
the Company’s new vice president of business development, 162,920 shares of
restricted stock and options to purchase 54,307 shares of the Company’s common
stock as inducement awards outside the Company’s 2013 Long-Term Incentive
Plan. The grant was approved by the Compensation Committee and was made as an
inducement material to the employee entering into employment. The grant was
made in reliance on the employment inducement exception to shareholder
approval provided under the NYSE American Company Guide, Section 711(a), which
requires public announcement of inducement awards.

The option award has an exercise price of $0.34 per share, the closing price
of the Company’s common stock on October 5, 2020, the grant date, and has a
ten-year term. Both the option and restricted stock awards will vest in three
equal installments on the first, second, and third anniversaries of the date
of grant, provided Mr. Jamnik remains employed by the Company through the
applicable vesting dates. These inducement awards also provide for accelerated
vesting in connection with a change in control of the Company or certain
involuntary terminations of Mr. Jamnik’s employment. 

About The CGuard® EPS

The CGuard® Embolic Protection System is an advanced platform solution
designed to deliver the flexibility of the traditional open-cell stent with
advanced protection from peri-procedural and post-procedural embolic events
caused by plaque prolapse through the stent strut that can lead to stroke.
CGuard’s unique MicroNet® technology mitigates the prolapse and associated
embolization and has shown superior clinical outcomes for patients against
alternative carotid stent types, conventional and next-generation double-layer
stents, as well as invasive procedures such as endarterectomy, a major
surgical procedure.  InspireMD’s CGuard™ has created a new dimension in the
protected treatment of carotid artery disease and has the potential to
establish a new standard of care for the management of carotid artery disease
and stroke prevention.

About InspireMD, Inc.

InspireMD seeks to utilize its proprietary MicroNet® technology to make its
products the industry standard for carotid stenting by providing outstanding
acute results and durable, stroke-free, long-term outcomes.

Forward-looking Statements

This press release contains “forward-looking statements.” Such statements  may
be preceded  by  the  words  “intends,”  “may,”  “will,”  “plans,”  “expects,”
“anticipates,”  “projects,”  “predicts,”   “estimates,”  “aims,”   “believes,”
“hopes,” “potential”  or similar  words.  Forward-looking statements  are  not
guarantees of future  performance, are  based on certain  assumptions and  are
subject to various known  and unknown risks and  uncertainties, many of  which
are beyond the Company’s  control, and cannot be  predicted or quantified  and
consequently, actual results  may differ  materially from  those expressed  or
implied by  such  forward-looking  statements. Such  risks  and  uncertainties
include, without  limitation,  risks  and uncertainties  associated  with  (i)
market acceptance of  our existing  and new products,  (ii) negative  clinical
trial results or lengthy product delays in key markets, (iii) an inability  to
secure regulatory approvals for the sale  of our products, (iv) the impact  of
the COVID-19  pandemic on  our  manufacturing, sales,  business plan  and  the
global economy, (v) intense  competition in the  medical device industry  from
much larger,  multinational companies,  (vi) product  liability claims,  (vii)
product  malfunctions,  (viii)  our  limited  manufacturing  capabilities  and
reliance on  subcontractors for  assistance, (ix)  insufficient or  inadequate
reimbursement by governmental and other  third party payers for our  products,
(x) our  efforts to  successfully obtain  and maintain  intellectual  property
protection  covering  our  products,  which   may  not  be  successful,   (xi)
legislative or regulatory reform of the healthcare system in both the U.S. and
foreign jurisdictions,  (xii) our  reliance on  single suppliers  for  certain
product components, (xiii)  the fact  that we  will need  to raise  additional
capital to meet our business requirements in the future and that such  capital
raising may be costly, dilutive or difficult to obtain and (xiv) the fact that
we conduct business in multiple foreign jurisdictions, exposing us to  foreign
currency exchange rate fluctuations, logistical and communications challenges,
burdens and costs of compliance with  foreign laws and political and  economic
instability in each jurisdiction. More detailed information about the  Company
and the  risk factors  that  may affect  the  realization of  forward  looking
statements is  set forth  in the  Company’s filings  with the  Securities  and
Exchange Commission (SEC), including the Company’s Annual Report on Form  10-K
and its Quarterly  Reports on Form  10-Q. Investors and  security holders  are
urged to  read  these documents  free  of charge  on  the SEC’s  web  site  at The Company  assumes no obligation  to publicly update  or
revise its forward-looking statements as  a result of new information,  future
events or otherwise.

Investor Contacts:

Craig Shore
Chief Financial Officer
InspireMD, Inc.
[email protected] 


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