IRRAS Secures Short-term Financing Agreement of MSEK 30

Stockholm, Sweden (May 19, 2022) – IRRAS, a commercial-stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, today announced a short-term financing agreement with Bacara Holdings, its largest shareholder, which is led by the company’s Chairman of the Board of Directors, Marios Fotiadis.  This bridge loan agreement provides IRRAS up to MSEK 30 in funding to cover its working capital needs until the completion of the company’s ongoing financing process, which is intended to secure sufficient funds to support growth for at least 18 months.  The short-term loan is a secured credit facility with an interest rate of 6.0% on an annual basis.

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:

Sten Gustafsson
Director, Investor Relations
sten.gustafsson@irras.com
+46 102 11 5172

The information was released for public disclosure, through the agency of the contact person above, on May 19, 2022, at 8:30 (CET).