Vator Securities today announced the completion of a SEK 91.2 million capital raise for IRRAS AB. IRRAS AB is a commercial medical technology company that develops and sells a groundbreaking pump and catheter system for the treatment of cerebral hemorrhage. The system is marketed under the name IRRAflowTM and is the only device on the market that monitors intracranial pressure (ICP) and through a double-lumen catheter that simultaneously drains blood and administers fluids for rinsing the disease area. IRRAflowTM is equipped with sensors for intracranial pressure and the market’s most sensitive alarm system. IRRAflowTM solves a major clinical problem in competing treatment methods because the risk of retention of the catheter’s intake holes is severely limited by its double cell catheter construction and intracranial pressure monitoring. This entails that the risk of infection in patients treated for cerebral hemorrhage is greatly reduced. IRRAS has already begun the sale of IRRAflowTM in the German market with compensation from the state insurance scheme (reimbursement). The company has received orders from 12 out of 18 major hospitals/centers for the treatment of cerebral hemorrhage. These 18 units together cover 80 percent of the German market.
IRRA’s Chairman, Kleanthis G. Xanthopoulos, PhD, comments:
“Vator Securities has been advising IRRAS for four years now and has consistently been an excellent advisor to the company. IRRAS’ revolutionary product in combination with Vator Securities’ experience, commitment and investor relationship resulted in a very good outcome for all parties in this transaction.”