Growth despite COVID-19 resurgence  

“During the course of the 4th quarter, challenges associated with the COVID-19 global pandemic increased and impacted the company’s commercial activity. In both the European Union (EU) and the United States (US), another round of lockdowns was instituted, limiting hospital access, reducing the ability to travel, and reducing focus on neurosurgical procedures in hospital intensive care units (ICUs). Despite these challenges, our IRRAS team increased the number of IRRAflow control units installed globally from 55 to 68 during the quarter and delivered annual revenue growth of 40%.

IRRAflow evaluations were completed at Buffalo General Medical Center, one of the most influential neurosurgical centers in the world, and with West Virginia University Medicine, another important academic comprehensive stroke center. In both evaluations, 10 patients were treated with positive results. In Germany, BGU Kliniken Halle Bergmannstrost also completed a 90-day evaluation of IRRAflow. Feedback received during these evaluations indicated that patients experienced improved outcomes and fewer complications with IRRAflow compared to established treatment methods. IRRAS is currently in discussions to convert all three centers into commercial customers early in 2021.

As the launch of IRRAflow continues, expanding the network of reference accounts that have adopted the system is an important part of our growth strategy. The reputation and influence of these centers will positively impact the company’s ability to attract other stroke centers around the world as customers. Additionally, multiple scientific publications are being prepared for submission to peer-reviewed journals describing the outcomes of the patients treated during these evaluations. When released, such publications will further highlight the advantages of our technology and will help IRRAS accelerate IRRAflow’s commercialization.”

Kleanthis G. Xanthopoulos, Ph.D., CEO of IRRAS

Fourth quarter, October – December 2020

• Net revenue amounted to SEK 2.5 million (3.4).
• Operating loss (EBIT) amounted to SEK -36.8 million (-35.7).
• Loss after tax amounted to SEK -38.1 million (-36.5).
• Earnings per share before and after dilution amounted to SEK -0.57 (-1.27).

Period January – December 2020

• Net revenue amounted to SEK 7.4 million (5.3).
• Operating loss (EBIT) amounted to SEK -134.3 million (-151.5).
• Loss after tax amounted to SEK -135.9 million (-151.1).
• Earnings per share before and after dilution amounted to SEK -2.46 (-5.61).

Key accomplishments

• Agreement for Hummingbird signed with purchasing network Premier
• Collaboration agreement signed with Karolinska University Hospital
• IRRAflow launched in the Netherlands, Latin America and South Eastern Europe through distributors
• Evaluation agreements signed with hospitals in the US, Denmark and Germany and multiple evaluations in the US completed with positive outlook
• The company’s first FDA quality audit performed without remarks
• Transition to inhouse manufacturing of IRRAflow for improved quality and reduced cost
• The Board of Directors proposes no dividend 

Events after the end of the quarter

• Patient treatments started at multiple hospitals in the US, where personnel have been trained during 2020
• Additional evaluation agreements signed in the US

The report is available on the company’s website: https://investors.irras.com/en/reports-presentations
 

About IRRAS

IRRAS is a global medical care company focused on delivering innovative medical solutions to improve the lives of critically ill patients. IRRAS designs, develops, and commercializes neurocritical care products that transform patient outcomes and decrease the overall cost of care by addressing complications associated with current treatment methodologies. IRRAS markets and sells its comprehensive, innovative IRRAflow and Hummingbird ICP Monitoring product lines to hospitals worldwide through its direct sales organization in the United States and select European countries as well as an international network of distribution partners. 

IRRAS maintains its headquarters in Stockholm, Sweden, with corporate offices in Munich, Germany, and San Diego, California, USA. For more information, please visit www.irras.com.

IRRAS AB (publ) is listed on Nasdaq Stockholm (ticker: IRRAS).
 

For more information, please contact:

USA
Kleanthis G. Xanthopoulos, Ph.D.
CEO
ir@irras.com

Europa
Sabina Berlin
CFO
+46 73 951 95 02
sabina.berlin@irras.com

This document is considered information that IRRAS is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact person above, on February 16, 2021 at 8:00 a.m. (CET).

 Release

On Tuesday February 16, at 16.00 CET, IRRAS will host a conference call and an online presentation of its Q4 2020 interim report (which will have been published earlier on the 16^th at 08.00 CET). The presentation will be held in English.

The dial-in numbers for the conference call are:
Sweden: +46 8 56 64 27 03
Rest of the world: +44 33 33 00 92 71

The presentation will be webcast and can be accessed from the following web address:
https://tv.streamfabriken.com/irras-q4-2020 

Speakers: CEO Kleanthis G. Xanthopoulos, Ph.D., President and CCO Will Martin and CFO Sabina Berlin

About IRRAS

IRRAS is a global medical care company focused on delivering innovative medical solutions to improve the lives of critically ill patients. IRRAS designs, develops, and commercializes neurocritical care products that transform patient outcomes and decrease the overall cost of care by addressing complications associated with current treatment methodologies. IRRAS markets and sells its comprehensive, innovative IRRAflow and Hummingbird ICP Monitoring product lines to hospitals worldwide through its direct sales organization in the United States and select European countries as well as an international network of distribution partners.

IRRAS maintains its headquarters in Stockholm, Sweden, with corporate offices in Munich, Germany, and San Diego, California, USA.  For more information, please visit www.irras.com.

IRRAS AB (publ) is listed on Nasdaq Stockholm (ticker: IRRAS).
 

For more information, please contact:

USA
Kleanthis G. Xanthopoulos, Ph.D.
CEO
ir@irras.com

Europa
Sabina Berlin
CFO
+46 73 951 95 02
sabina.berlin@irras.com

The information was released for public disclosure, through the agency of the contact person above, on February 9, 2020 at 08:00 (CET).

Stockholm, January 12, 2021 – IRRAS AB, a commercial-stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, today announced a collaboration agreement with Karolinska University Hospital, a world-class clinical facility, that includes the initiation of an evaluation of IRRAflow, the company’s lead commercial product.

Peter Alpkvist, Neurosurgeon and head of Neurosurgical Intensive Care Unit (NICU) at Karolinska University Hospital, comments, “We are excited to bring an innovative, next-generation solution for the treatment of intracranial bleeding to our neurocritical care patients.”

“We are pleased and excited to have this collaboration agreement executed and look forward to having the world’s first irrigating ventricular drainage system available to the clinical team at the neurosurgery department of Karolinska University Hospital,” said Coenraad Tamse, Vice President of International Sales at IRRAS.

“This partnership allows us to accelerate commercial launches in the Nordic region while working closely with a leading facility and clinical experts,” added Edmond Malek, IRRAS’ Nordic Country Sales Head.

About Karolinska University Hospital

Karolinska University Hospital is one of Scandinavia’s premier health facilities and one of Europe´s largest teaching hospitals. Their services encompass health care for disorders ranging from major public health diseases to rare medical conditions. In the Stockholm region, they are a designated provider of highly specialized medical services. Karolinska University Hospital also serve many patients from other parts of Sweden and from other countries around the world. As the county council´s teaching hospital, Karolinska University Hospital has a primary responsibility for the clinical components of research and education. Together with the world-respected Karolinska Institutet, they lead in medical breakthroughs in Sweden. They believe that patient care, research, and education must all play equally strong roles in its effort to extend and enhance people’s lives. As a major teaching hospital they educate and train tomorrow’s medical specialists and healthcare professionals.

About IRRAS

IRRAS is a global medical care company focused on delivering innovative medical solutions to improve the lives of critically ill patients. IRRAS designs, develops, and commercializes neurocritical care products that transform patient outcomes and decrease the overall cost of care by addressing complications associated with current treatment methodologies. IRRAS markets and sells its comprehensive, innovative IRRAflow and Hummingbird ICP Monitoring product lines to hospitals worldwide through its direct sales organization in the United States and select European countries as well as an international network of distribution partners.

IRRAS maintains its headquarters in Stockholm, Sweden, with corporate offices in Munich, Germany, and San Diego, California, USA. For more information, please visit www.irras.com.

IRRAS is listed on Nasdaq Stockholm (ticker: IRRAS).

For more information, please contact:

USA

Kleanthis G. Xanthopoulos, Ph.D.
CEO
ir@irras.com

Europe

Sabina Berlin
CFO
+46 73 951 95 02
sabina.berlin@irras.com

The information was released for public disclosure, through the agency of the contact person above, on January 12, 2021 at 08:00 (CET).

Stockholm, December 17, 2020 – IRRAS AB, a commercial-stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, today announced an exclusive distribution agreement with Medical Innovation Solutions, a leading distributor of world-class neurosurgical medical devices and technologies throughout Southeastern Europe, including the key markets of Serbia, Croatia, Romania, North Macedonia, Slovenia and Hungary.“

We are pleased to partner with Medical Innovation Solutions to expand the commercial availability of our IRRAflow product line to physicians and patients throughout southeastern Europe,” said Coenraad Tamse, Vice President of International Sales for IRRAS. “This partnership expands the IRRAflow launch into a new geographic region of Europe by partnering with a leading distributor that successfully sells a complementary product portfolio that targets a hospital’s intensive care unit (ICU).”

Saša Pozder, Managing Director of Medical Innovation Solutions, commented, “We are excited to add IRRAflow to our product portfolio because we can now offer patients a next generation solution for intracranial bleeding. This exclusive distribution agreement builds upon our history of success in launching leading medical technologies to our clients. We plan to focus our early efforts in Serbia and Croatia and will build upon this initial success by expanding into the broader geography.”

About IRRAS

IRRAS is a global medical care company focused on delivering innovative medical solutions to improve the lives of critically ill patients. IRRAS designs, develops, and commercializes neurocritical care products that transform patient outcomes and decrease the overall cost of care by addressing complications associated with current treatment methodologies. IRRAS markets and sells its comprehensive, innovative IRRAflow and Hummingbird ICP Monitoring product lines to hospitals worldwide through its direct sales organization in the United States and select European countries as well as an international network of distribution partners.

IRRAS maintains its headquarters in Stockholm, Sweden, with corporate offices in Munich, Germany, and San Diego, California, USA. For more information, please visit www.irras.com.

IRRAS is listed on Nasdaq Stockholm (ticker: IRRAS).

For more information, please contact:

USA

Kleanthis G. Xanthopoulos, Ph.D.
CEO
ir@irras.com

Europe

Sabina Berlin
CFO
+46 73 951 95 02
sabina.berlin@irras.com

The information was released for public disclosure, through the agency of the contact person above, on December 17, 2020 at 08:00 (CET).

Stockholm, December 10, 2020 – IRRAS AB, a commercial-stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, today announced an exclusive distribution agreement with Anade SA, a well-established distributor of leading neurosurgical medical devices and technologies through Latin America.

“We are pleased to partner with Anade SA to expand the commercial availability of our IRRAflow product line to physicians and patients throughout multiple markets in Latin America,” said Coenraad Tamse, Vice President of International Sales for IRRAS. “Currently, IRRAflow has received regulatory clearance in Costa Rica and Argentina, and regulatory clearance is being pursued in 5 additional markets. This partnership allows us to accelerate commercial launches in these markets with the capable sales professionals of Anade and its sub-distribution partners identifying and training customers in each of these new markets.”

Miguel Ferro, Vice President of Anade SA, added, “We are excited to bring an exciting product, such as IRRAflow, to these initial markets in Latin America. IRRAflow clearly complements our existing neurosurgery portfolio by providing a next generation solution for the treatment of intracranial bleeding, and our team is actively working with leading physicians to plan an effective product launch.”

About IRRAS

IRRAS is a global medical care company focused on delivering innovative medical solutions to improve the lives of critically ill patients. IRRAS designs, develops, and commercializes neurocritical care products that transform patient outcomes and decrease the overall cost of care by addressing complications associated with current treatment methodologies. IRRAS markets and sells its comprehensive, innovative IRRAflow and Hummingbird ICP Monitoring product lines to hospitals worldwide through its direct sales organization in the United States and select European countries as well as an international network of distribution partners.

IRRAS maintains its headquarters in Stockholm, Sweden, with corporate offices in Munich, Germany, and San Diego, California, USA. For more information, please visit www.irras.com.

IRRAS is listed on Nasdaq Stockholm (ticker: IRRAS).

For more information, please contact:

USA

Kleanthis G. Xanthopoulos, Ph.D.
CEO
ir@irras.com

Europe

Sabina Berlin
CFO
+46 73 951 95 02
sabina.berlin@irras.com

The information was released for public disclosure, through the agency of the contact person above, on December 10, 2020 at 08:00 (CET).

Stockholm, November 26, 2020 – IRRAS AB, a commercial-stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, today announced an exclusive distribution agreement with KM Innovations BV, a leading distributor of world-class neurosurgical medical devices and technologies in The Netherlands.

“We are pleased to partner with KM Innovations to expand the commercial availability of our IRRAflow® product line to physicians and patients throughout the Netherlands,” said Coenraad Tamse, Vice President of International Sales for IRRAS. “As we expand the launch of our products throughout Europe, this partnership strategically expands our commercial capabilities with a large and established distributor with 35 years of experience supplying cutting-edge neurosurgical technologies.”

Sanne Krijnen, Managing Director of KM Innovations Medical, commented, “We are excited to add IRRAflow to our product portfolio as it allows us to bring our customers a next generation solution for the treatment of intracranial bleeding and hemorrhagic stroke.  This exclusive distribution agreement expands our proven record of success in bringing safe and effective, leading-edge medical technologies to our Dutch clients, and we look forward to our partnership with IRRAS.”

About KM Innovations

Krijnen Medical Innovations BV has been a distributor of innovative surgical technologies since 1985.  With a head office in Waardenburg, the Netherlands, Krijnen Medical serves customers in the Netherlands, Belgium, France, and Luxembourg with dedicated sales professionals to support its general, cardio, vascular, thoracic, and neurosurgical product lines.

About IRRAS

IRRAS is a global medical care company focused on delivering innovative medical solutions to improve the lives of critically ill patients. IRRAS designs, develops, and commercializes neurocritical care products that transform patient outcomes and decrease the overall cost of care by addressing complications associated with current treatment methodologies. IRRAS markets and sells its comprehensive, innovative IRRAflow and Hummingbird ICP Monitoring product lines to hospitals worldwide through its direct sales organization in the United States and select European countries as well as an international network of distribution partners.

IRRAS maintains its headquarters in Stockholm, Sweden, with corporate offices in Munich, Germany, and San Diego, California, USA. For more information, please visit www.irras.com.

IRRAS is listed on Nasdaq Stockholm (ticker: IRRAS).

For more information, please contact:

USA

Kleanthis G. Xanthopoulos, Ph.D.
CEO
ir@irras.com

Europe

Sabina Berlin
CFO
+46 73 951 95 02
sabina.berlin@irras.com

The information was released for public disclosure, through the agency of the contact person above, on November 26, 2020 at 08:00 (CET).

Stockholm, November 17, 2020 – IRRAS AB, a commercial-stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, today announced that its Hummingbird family of intracranial pressure (ICP) monitoring equipment has been awarded a group purchasing agreement with Premier Inc. in the United States. Effective December 1, the new agreement allows Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for Hummingbird ICP Monitoring products.

Premier added the Hummingbird products to its list of contractually approved items in the neurosurgical critical care product category via its Technology Breakthroughs program. This selective program allowed IRRAS to gain status as an approved supplier outside of Premier’s normal contract cycle.

“Today’s announcement is a significant accomplishment for the commercial growth of IRRAS,” said Will Martin, IRRAS’ President and Chief Commercial Officer. “This contract accelerates our US Hummingbird launch by allowing our team to introduce the product to Premier’s broad membership group of approximately 4,100 hospitals.”

Assessment of a patient’s ICP is a critical element of managing traumatic brain injury, and the Hummingbird product family is designed to continuously monitor a patient’s ICP by placing a small probe directly into the brain tissue. Instead of using strain gauge or fiberoptic sensors like other ICP monitors, the Hummingbird system uses a small air bladder that allows simple setup and automatic, hourly ICP recalibration. This air bladder mechanism of action eliminates challenges that plague other systems, including cumbersome setup and ICP readings that cannot be recalibrated and become increasingly inaccurate over time.

Premier is a leading healthcare improvement company, uniting an alliance of approximately 4,100 US hospitals and 200,000 other providers to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and advisory and other services, Premier enables better care and outcomes at a lower cost.

1. Severe TBI. Centers for Disease Control and Prevention, Centers for Disease Control and Prevention, 2 Apr. 2019, www.cdc.gov/traumaticbraininjury/severe.html.
2. Traumatic Brain Injury Fact sheets and Policy brief. Center-TBI, https://www.center-tbi.eu/files/news/21571f81-20b8-4860-a3dd-1f6e27d02b3d.pdf.

 

About IRRAS

IRRAS is a global medical care company focused on delivering innovative medical solutions to improve the lives of critically ill patients. IRRAS designs, develops, and commercializes neurocritical care products that transform patient outcomes and decrease the overall cost of care by addressing complications

associated with current treatment methodologies. IRRAS markets and sells its comprehensive, innovative IRRAflow and Hummingbird ICP Monitoring product lines to hospitals worldwide through its direct sales organization in the United States and select European countries as well as an international network of distribution partners.

IRRAS maintains its headquarters in Stockholm, Sweden, with corporate offices in Munich, Germany, and San Diego, California, USA. For more information, please visit www.irras.com.

IRRAS AB (publ) is listed on Nasdaq Stockholm (ticker: IRRAS).

For more information, please contact:

USA

Kleanthis G. Xanthopoulos, Ph.D.
CEO
ir@irras.com

Europe

Sabina Berlin
CFO
+46 73 951 95 02
sabina.berlin@irras.com

  

The information was released for public disclosure, through the agency of the contact person above, on November 17, 2020 at 08:00 (CET).

IRRAS’ progress continues and sales increase

“During the third quarter IRRAS made decisive progress in a number of areas. Sales growth was seen again as commercial activity resumed after being impacted by COVID-19 restrictions, and a clinical study data was presented that demonstrated that IRRAflow shortens the length of hospital stays for patients with chronic subdural hematoma (cSH). In both Europe and the US, patient treatments started in new hospitals as a number of new clinical evaluations have begun. We see a clear increased demand for IRRAflow in both Europe and the US and remain confident that we can capture a share of the SEK 15.5 billion market over the next few years.”

Kleanthis G. Xanthopoulos, Ph.D., CEO of IRRAS

Third quarter, July – September 2020

• Net revenue amounted to SEK 2.1 million (0.9).

• Operating loss (EBIT) amounted to SEK -31.0 million (-35.9).
• Loss after tax amounted to SEK -31.0 million (-35.7).
• Earnings per share before and after dilution amounted to SEK -0.47 (-1.24).

Period January – September 2020

• Net revenue amounted to SEK 4.9 million (1.9).

• Operating loss (EBIT) amounted to SEK -97.5 million (-115.7).
• Loss after tax amounted to SEK -97.8 million (-114.6).
• Earnings per share before and after dilution amounted to SEK -1.90 (-4.36).

Important events during the quarter

• Change of Chairman of the Board of Directors
  Anders P. Wiklund, Chairman of the Board of Directors of IRRAS, passed away in August and was replaced by Marios Fotiadis, a current board member of IRRAS.

Other key accomplishments

• First new hospital approvals in the US were received to begin evaluations of IRRAflow since the start of covid-19 restrictions.

• Training and IRRAflow treatments were resumed at multiple comprehensive stroke centers in the US.
• First ever treatment with Hummingbird Solo ICP Monitoring system was completed.
• IRRAS was granted a sixth patent for Hummingbird ICP Monitoring product line.
• Two posters were presented at Neurocritical Care Society annual meeting that documented that IRRAflow reduced hospital length of stay after chronic subdural hematoma treatment by more than 50% compared to the US average.
• CE Mark certification was extended until 2024 for IRRAflow.
• The global sales organisation was enhanced in Europe.

Events after the end of the quarter

• The first patient treatment with IRRAflow was performed at Universitätsklinikum Schleswig-Holstein (UKSH), Lübeck, in Germany.

• Initial agreement signed by BG Klinikum Bergmannstrost in Halle, Germany, to evaluate IRRAflow.
• Initial agreement signed by Aarhus University Hospital in Aarhus, Denmark, to evaluate IRRAflow.

The report is available on the company’s website: https://investors.irras.com/en/reports-presentations
 

About IRRAS

IRRAS is a global medical care company focused on delivering innovative medical solutions to improve the lives of critically ill patients. IRRAS designs, develops, and commercializes neurocritical care products that transform patient outcomes and decrease the overall cost of care by addressing complications associated with current treatment methodologies. IRRAS markets and sells its comprehensive, innovative IRRAflow and Hummingbird ICP Monitoring product lines to hospitals worldwide through its direct sales organization in the United States and select European countries as well as an international network of distribution partners. 

IRRAS maintains its headquarters in Stockholm, Sweden, with corporate offices in Munich, Germany, and San Diego, California, USA. For more information, please visit www.irras.com.

IRRAS AB (publ) is listed on Nasdaq Stockholm (ticker: IRRAS).
 

For more information, please contact:

USA
Kleanthis G. Xanthopoulos, Ph.D.
CEO
ir@irras.com

Europa
Sabina Berlin
CFO
+46 73 951 95 02
sabina.berlin@irras.com

This document is considered information that IRRAS is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact person above, on November 10, 2020 at 8:00 a.m. (CET).

 IRRAS AB (publ) interim report for January to September 2020

On Tuesday November 10, at 16.00 CET, IRRAS will host a conference call and an online presentation of its Q3 2020 interim report (which will have been published earlier on the 10^th at 08.00 CET). The presentation will be held in English.

The dial-in numbers for the conference call are:
Sweden: +46 8 50 55 83 50
Rest of the world: +44 33 33 00 92 70

The presentation will be webcast and can be accessed from the following web address:
https://tv.streamfabriken.com/irras-q3-2020 

Speakers: CEO Kleanthis G. Xanthopoulos, Ph.D., President and CCO Will Martin and CFO Sabina Berlin

About IRRAS

IRRAS is a global medical care company focused on delivering innovative medical solutions to improve the lives of critically ill patients. IRRAS designs, develops, and commercializes neurocritical care products that transform patient outcomes and decrease the overall cost of care by addressing complications associated with current treatment methodologies. IRRAS markets and sells its comprehensive, innovative IRRAflow and Hummingbird ICP Monitoring product lines to hospitals worldwide through its direct sales organization in the United States and select European countries as well as an international network of distribution partners.

IRRAS maintains its headquarters in Stockholm, Sweden, with corporate offices in Munich, Germany, and San Diego, California, USA.  For more information, please visit www.irras.com.

IRRAS AB (publ) is listed on Nasdaq Stockholm (ticker: IRRAS).
 

For more information, please contact:

USA
Kleanthis G. Xanthopoulos, Ph.D.
CEO
ir@irras.com

Europa
Sabina Berlin
CFO
+46 73 951 95 02
sabina.berlin@irras.com

The information was released for public disclosure, through the agency of the contact person above, on November 4, 2020 at 08:00 (CET).

 Initial Evaluation Agreement Signed, First Revenue Generated

The latest generation of IRRAflow was launched in Europe in the first quarter of this year after securing the product’s CE Mark certification in December 2019. The covid-19 pandemic slowed the launch of this IRRAflow system, but the IRRAS team in Germany has been able to secure physician support for product evaluations and train hospital staff remotely in recent months.

The first agreement to evaluate IRRAflow has been signed by BG Klinikum Bergmannstrost in Halle, Germany, which placed an order for IRRAflow disposable kits to support an evaluation by Dr. med. Felix Goehre. This facility did not have experience with IRRAflow during its earlier German commercial availability and will be a new customer for IRRAS. The evaluation will begin later in the 4^th quarter after product training has been completed for the nursing staff.

“The reintroduction of IRRAflow into the German market represents a major step forward for IRRAS,” said Coenraad Tamse, Vice President, International Sales, of IRRAS. “Germany is the largest market for neurosurgery in Europe, and we are pleased with extensive growth opportunities that we have seen from German customers.”

First Patient Treatment

In addition, the first patient in Germany has been treated using the latest generation IRRAflow system. Dr. Jan Leppert at Universitätsklinikum Schleswig-Holstein (UKSH), located in Lübeck, treated a ventricular hemorrhage with IRRAflow after multiple traditional drainage catheters became blocked. Dr. Leppert and the hospital in Lübeck had previously treated patients in 2017 and 2018 when the earlier version of IRRAflow was available in Germany.

“The fact that the UKSH in Lübeck has resumed patient treatments using the latest IRRAflow version is a confirmation of the patient benefits that the system offers,” added Mr. Tamse. “Beyond Lübeck, other previous IRRAS customers have confirmed their interest in resuming IRRAflow treatments after refresher training is completed.”

About IRRAS

IRRAS is a global medical care company focused on delivering innovative medical solutions to improve the lives of critically ill patients. IRRAS designs, develops, and commercializes neurocritical care products that transform patient outcomes and decrease the overall cost of care by addressing complications associated with current treatment methodologies. IRRAS markets and sells its comprehensive, innovative IRRAflow and Hummingbird ICP Monitoring product lines to hospitals worldwide through its direct sales organization in the United States and select European countries as well as an international network of distribution partners.

IRRAS maintains its headquarters in Stockholm, Sweden, with corporate offices in Munich, Germany, and San Diego, California, USA. For more information, please visit www.irras.com.

IRRAS is listed on Nasdaq Stockholm (ticker: IRRAS).

For more information, please contact:

USA

Kleanthis G. Xanthopoulos, Ph.D.
CEO
ir@irras.com

Europe

Sabina Berlin
CFO
+46 73 951 95 02
sabina.berlin@irras.com

The information was released for public disclosure, through the agency of the contact person above, on October 22, 2020 at 11:30 (CET).