IRRAS Announces Changes in Management Group

STOCKHOLM, June 18, 2019 /PRNewswire/ -- IRRAS AB (Nasdaq First North Premier: IRRAS), a commercial stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, announced today that Fredrik Alpsten, Chief Financial Officer (CFO), will leave IRRAS to pursue another opportunity outside of the company. However, he will remain at IRRAS until July 31 and will continue to support the company to ensure a seamless transition of responsibilities.

Furthermore, Lance Boling, Vice President, Product Development, will revert to a consultant position for the company, a role he previously held since 2013 before joining the management group at IRRAS in 2017.

Effective June 24, 2019, there will be a single IRRAS management group, which will replace the previous structure with both executive and extended management teams. The management team will consist of the following persons:

Kleanthis G. Xanthopoulos, Ph.D. - President & CEO
Sabina Berlin - CFO
Will Martin - Chief Commercial Officer
Adam Sampson - Vice President, Product Excellence
Vinny Podichetty - Vice President, Clinical, Regulatory Affairs & Quality
Kellie Fontes - Senior Director, Human Capital

Mrs. Berlin, who is promoted to CFO, has been with IRRAS since 2014 and was previously Vice President, Finance, and deputy CFO. Kleanthis G. Xanthopoulos, Ph.D., President & CEO will take over the responsibility for investor relations. Adam Sampson, Vice President, Product Excellence, will assume responsibility for IRRAS’ new product development. Additionally, David Asbury, former Director of R&D at the recently acquired InnerSpace Neuro Solutions, is consulting with the company to complement the R&D team.

“The Board and I want to thank Fredrik and Lance for their major contributions and service to IRRAS during the last several years. Since they joined us, IRRAS has been transformed from an R&D company to a commercial-stage, publicly-traded company with a comprehensive portfolio of products for neurocritical care. Both Fredrik and Lance have played important roles in this process and have contributed significantly to our progress,” said Kleanthis G. Xanthopoulos, Ph.D., President & CEO of IRRAS AB.

About IRRAS

IRRAS AB (Nasdaq First North Premier: IRRAS) is a publicly-traded, commercial-stage medical technology company focused on developing and commercializing innovative solutions for neurocritical care.

The company’s flagship product, IRRAflow, is the world’s first “irrigating ventricular drain.” Its unique mechanism of action addresses the complications associated with the current methods of managing intracranial fluid by using a dual lumen catheter that combines active irrigation with ongoing fluid drainage. Additionally, IRRAflow incorporates ICP monitoring and uses a proprietary software to regulate treatment based on desired pressure levels. IRRAS also has several other innovative neurocritical care products that are commercial available in the US, including the Hummingbird intracranial pressure (ICP) monitoring system.

With its unique and comprehensive product portfolio, protected by multiple patents and patent applications, IRRAS is well positioned to establish a leadership position in the medical device market. 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 First North Premier. Wildeco is certified adviser of the company. Wildeco is reached at + 46 8 545 271 00 or at info@wildeco.se.

For more information, please contact:

US
Kleanthis G. Xanthopoulos, Ph.D.
President & CEO
info@irras.com

Europe
Sabina Berlin
CFO
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 June 18, 2019 at 08.00 a.m. (CET).

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SOURCE IRRAS

Company Codes: ISIN:SE0008321202, LSE:0GDW, Stockholm:IRRAS