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IRRAS AB announced a significant milestone with the publication of a clinical case report in the Cureus Journal, demonstrating the efficacy of its IRRAflow system for treating intraventricular hemorrhage (IVH). The case highlights how IRRAflow outperforms standard external ventricular drains (EVD), reducing complications like clotting. The study, conducted at Buffalo General Medical Center, showcases the ability of IRRAflow to effectively deliver thrombolytic medication, leading to improved patient outcomes. CEO Kleanthis Xanthopoulos emphasized the importance of this validation in promoting broader adoption of IRRAflow in clinical settings.
IRRAS has announced a strategic collaboration with Aarhus University Hospital in Denmark to advance the use of its IRRAflow system for treating intraventricular hemorrhage (IVH). Dr. Anders Korshøj will lead the initiative, which includes a clinical study comparing IRRAflow to traditional external ventricular drainage treatments. The aim is to improve patient outcomes and gather clinical data to enhance awareness of IRRAflow among neurocritical care specialists. Aarhus University Hospital is recognized as Denmark's best hospital and ranked 11th globally.
IRRAS, a global healthcare company specializing in neurocritical care, will present its strategy on March 30, 2021, from 4:00 pm to 5:00 pm CET, at the Swedish Investment Bank Redeye. CEO Kleanthis G. Xanthopoulos and President Will Martin will lead the session, including a presentation followed by a Q&A lasting one hour. A live webcast will be available at this link. More information about the company can be found at www.irras.com. IRRAS is listed on Nasdaq Stockholm under the ticker IRRAS.
IRRAS reported a 40% annual revenue growth despite challenges from the COVID-19 pandemic, increasing global installations of IRRAflow from 55 to 68 units. In Q4 2020, net revenue reached SEK 2.5 million, while operating loss amounted to SEK -36.8 million. In 2020, total revenues were SEK 7.4 million and operating loss was SEK -134.3 million. Key accomplishments include signed agreements with Premier and Karolinska University Hospital and successful evaluations at major medical centers. The company is moving towards in-house manufacturing for better quality and cost efficiency.
IRRAS will host a conference call and online presentation on February 16, 2021, at 16:00 CET to discuss its Q4 2020 interim report, which will be released earlier that day at 08:00 CET. The event will be accessible via dial-in numbers: Sweden: +46 8 56 64 27 03 and International: +44 33 33 00 92 71. The presentation will also be webcast at this link. CEO Kleanthis G. Xanthopoulos, along with other executives, will speak during the event.
IRRAS AB announced positive clinical research findings presented at the 18th Annual Meeting of the Neurocritical Care Society, demonstrating the safety and efficacy of its IRRAflow system in treating chronic subdural hematomas. The research revealed no complications or bleeding recurrence in six patients, with an average hospitalization time of 2.83 days—compared to the U.S. average of six days. These results suggest potential cost savings as chronic subdural hematomas are projected to become the most common cranial neurosurgical condition by 2030. IRRAS aims to expand data collection for future studies.
IRRAS AB announced the issuance of U.S. Patent No. 10,687,720 B2 for its Automatic Air Management System, integral to its Hummingbird ICP Monitoring System, which offers the most accurate intracranial pressure (ICP) measurement available. This patent extends protection until 2035 and strengthens IRRAS's intellectual property portfolio, enabling further expansion in the U.S. and potential EU launches. The Hummingbird product line includes innovative solutions like the Hummingbird Quad and Solo, enhancing neurocritical care.
