San Diego, CA, USA, Laichingen, Germany and Stockholm, Sweden March 5, 2018 – IRRAS AB (NASDAQ Stockholm: IRRAS), a commercial-stage medical technology company focused on designing, developing, and commercializing innovative solutions for various brain pathologies, today announced the appointment of Will Martin as Chief Commercial Officer and a member of the executive management team. Mr. Martin has amassed nearly 20 years of commercial, marketing, and executive experience in the medical device field with expertise in driving aggressive revenue growth for multiple product platforms in both emerging and large companies. In this newly created role, Mr. Martin will report directly to the President CEO of IRRAS, Kleanthis G. Xanthopoulos, Ph.D., from the San Diego site.
“We’re thrilled to welcome Will to the IRRAS team as we accelerate the commercial planning for our IRRAflow™ products,” said Kleanthis G. Xanthopoulos, President and CEO of IRRAS. “Will’s commercial and leadership experience will be invaluable to IRRAS as we build our commercial infrastructure to realize revenue growth in Europe while expanding into attractive new markets like the United States.”
Mr. Martin commented, “I have dedicated much of my career to providing patients with access to innovative medical devices, and, by joining IRRAS, I am pleased to continue this work by guiding the commercial strategies for IRRAflow™. We have a tremendous opportunity to revolutionize the treatment of hemorrhagic strokes, and I look forward to working with the experienced team at IRRAS to accomplish our goals.”
Most recently, Mr. Martin served as General Manager of the Peripheral Vascular (PV) devices business for Philips Healthcare, a global healthcare technology conglomerate. In this role, Mr. Martin oversaw the growth and expansion of Philips into the PV interventional space, was responsible for defining and owning the global PV business strategy, and played a key role in the acquisition of Spectranetics for more than $2B. During his tenure, the PV segment was one of the fastest growing businesses in Philips.
Prior to Philips, Mr. Martin was Vice President of Commercial Operations and Vice President of Marketing and Business Development at AtheroMed, Inc. (acquired by Volcano, Inc). In this key leadership role, he developed the global launch strategy for the Phoenix Atherectomy System and hired and led the initial US sales force during the product’s successful initial market introduction. He served as Vice President of Sales and Marketing at Hotspur Technologies, Inc. (acquired by Teleflex), the VP of International Sales at AccessClosure, Inc. (acquired by Cardinal Health), and held other key commercial roles at Boston Scientific Corporation, Aventis Pharmaceuticals, and Corning, Inc.
Mr. Martin was a Lieutenant in the U.S. Navy. Mr. Martin received a BA from Notre Dame and an MBA from Johns Hopkins University.
About IRRAflow™
IRRAS has developed and commercialized a revolutionary intelligent brain fluid management device stemming from its core IRRAflow™ technology that addresses the complications associated with the occurrence of intracranial bleedings. Currently available devices do not address the complications that lead to death because they do not prevent occlusion (or blockage) in the catheter during treatment and they do not accurately monitor intracranial pressure (ICP). IRRAS’ products provide a transformative solution for stroke and hematoma patients with less invasiveness and more efficacy, through the integration of aspiration, targeted infusion and intracranial pressure monitoring in a single robust device.
In February 2018, IRRAS launched a significantly improved version of IRRAflow™ in the EU, which incorporated several aesthetic and mechanical upgrades and an updated battery configuration. The new battery configuration was optimized in response to a voluntary recall and temporary hold on selling the device following an isolated incident of a battery malfunction that occurred in December 2017. The hold has now been lifted.
About IRRAS AB
IRRAS (NASDAQ Stockholm: IRRAS), is a publicly-traded, commercial-stage medical technology company focused on designing, developing and commercializing innovative solutions for various brain pathologies, with a goal of dramatically improving patient outcomes, reducing patient-time in the intensive care unit and medical ward, and providing significant health economic benefits to hospitals and healthcare providers. The Company’s initial product focus is on intracranial fluid management solutions that utilize its proprietary platform technology, IRRAflow™, which is a CE-marked, fully integrated, closed-circuit medical device system that enables intelligent intracranial fluid management as well as accurate, real-time monitoring of intracranial pressure.
With its unique product portfolio, protected by key intellectual property patents and patent applications, IRRAS is well-positioned to improve patient outcomes and establish a leadership position in the medical device market. IRRAS maintains its headquarters in Sweden with corporate offices in Germany and San Diego, CA, USA. For more information, please visit www.irras.com.
Investor and Media Contact:
Fredrik Alpsten
CFO and Deputy CEO
+46 706 67 31 06
fredrik.alpsten@irras.com
This information is 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 March 5, 2018 at 08.30 a.m. (CET).
