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- IRRAS has signed a commercial agreement with Medtronic, starting with a pilot phase where Medtronic will have the exclusive right to promote the IRRAflow system in certain sales territories in the United States.
- IRRAS will closely support the Medtronic team and remain responsible for customer training activities, order fulfillment, and patient treatment support.
Stockholm, November 14, 2022 - IRRAS, a commercial-stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, today announced it has signed a Sales Agency Agreement to promote its IRRAflow system in the United States with Medtronic, a global leader in healthcare technology.
During the initial pilot phase of the agreement, Medtronic shall have the exclusive right to promote IRRAflow in a select number of its territories in the United States. The IRRAS neurocritical education team will closely support the Medtronic sales professionals to train new customers, fulfill customer orders, and support patient treatments within these designated territories.
In areas of the United States that are not governed by this Sales Agency Agreement, IRRAS' team of sales professionals will continue to directly promote IRRAflow to stroke center customers.
"Medtronic is a company that is unsurpassed in its focus on therapies that extend life, restore health, and improve patient outcomes," said Will Martin, President and Chief Executive Officer of IRRAS. "As the largest medical device company in the world, Medtronic is the ideal partner to accelerate the commercial launch of our IRRAflow system in the world's largest market. This partnership will build broader awareness of IRRAS' cutting-edge technology and will ensure that more patients with intracranial bleeding can receive the latest available advances in treatment."
At the current time, IRRAS' previously stated financial targets remain unchanged. As the partnership with Medtronic matures, IRRAS will assess the impact of the shift in its sales strategy on these targets and will provide all needed updates in a timely fashion.
About the IRRAflow Active Fluid Exchange System
Patients that suffer from intracranial bleeding historically have suffered from subpar clinical outcomes due to the inherent shortcomings of passive drainage catheters that are used to drain excess fluid and remove collected blood within the brain. Traditional drainage catheters experience unacceptably high rates of complications, such as catheter occlusions, insufficient drainage, and infection, that are well documented in clinical evidence, and the IRRAflow system has been designed to address such shortcomings and advance treatment options for these critically ill patients
As the only system that enables active exchange of intracranial fluids, IRRAflow combines automated irrigation, controlled drainage, and continuous monitoring of the patient's intracranial pressure (ICP) within one intelligent system. IRRAflow's unique mechanism of action uses recurring irrigation to prevent solid particles from blocking the drainage holes on the catheter tip and also to dilute collected toxic material, making it easier to remove. This enhanced treatment has been shown to improve patient outcomes and reduced required treatment time across a variety of intracranial pathologies in more than 15 manuscripts published in peer-reviewed journals.
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:
Director, Investor Relations
+46 102 11 5172
This information 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 November 14, 2022, at 18:00 (CET).