Comment on transaction
The purpose of the rights issue is to ensure a successful implementation of the company’s growth strategy, including financing of its ongoing operations and the continued commercialization of its product portfolio.
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’ product portfolio includes the company’s original product IRRAflow and the product line Hummingbird ICP Monitoring.
- IRRAflow, which is a system for ventricular drainage and infusion, is FDA-approved and CE-marked for monitoring intracranial pressure as well as drainage of collected blood and excess cerebrospinal fluid.
- The Hummingbird product line includes eight FDA-approved products that help physicians diagnose and manage intracranial pressure in patients with traumatic brain injury, subarachnoid hemorrhage, and/or stroke.
- As IRRAflow is the only product on the market that has a flushing drainage, the combination of IRRAflow and Hummingbird creates a unique product portfolio and together with strong patent protection, IRRAS has, in the company’s assessment, good prospects of establishing itself as a leading player in the market.
- IRRAS markets and sells its products globally to hospitals, through its own sales force in the US and in selected markets in Europe, as well as through a network of distributors in other markets.