IRRAS Announces Key IRRAflow Commercial Milestones in Germany

STOCKHOLM, Oct. 22, 2020 /PRNewswire/ -- IRRAS AB, a commercial-stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, today announced important commercial milestones from the launch of its IRRAflow system in Germany. The company generated its initial revenue in Germany and also completed the first German patient since launching the most recent version of IRRAflow.

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 4th 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).

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SOURCE IRRAS


Company Codes: Bloomberg:IRRAS@SS, Frankfurt:4Z7, ISIN:SE0008321202, LSE:0GDW, OTC-PINK:IRRAF, RICS:IRRAS.ST, Stockholm:IRRAS, Stuttgart:4Z7

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