NewsIRRAS introduces IRRAflowTM v 2.5 with several upgrades including an updated battery configuration

San Diego, CA, USA, Laichingen, Germany and Stockholm, Sweden January 18, 2018 – IRRAS AB (NASDAQ Stockholm: IRRAS), a commercial-stage, medical technology company focused on designing, developing and commercializing innovative solutions for various brain pathologies, today announced the launch of a significantly improved version of its flagship IRRAflow product in the European Union (EU). IRRAflow version 2.5 incorporates several aesthetic and mechanical upgrades, as well as an updated battery configuration. The new battery configuration was optimized in response to a voluntary recall and temporary hold on selling the device following an isolated incident of a battery malfunction that occurred in December 2017. The hold has now been lifted.

IRRAS has transitioned to a new manufacturer for the battery pack contained in all IRRAflowdevices. The new manufacturer is based in Germany, and the specific battery pack chosen has been used since 2012 in tens of thousands medical devices and by over a dozen medical device companies. In February 2018, the first IRRAflow v 2.5 units will be ready for shipment to customers. IRRAS will re-introduce the optimized devices to the current customers and will begin to record sales shortly thereafter.

“The rapid response to the IRRAflow single battery malfunction incident during a sales demonstration reflects IRRAS’ ongoing commitment to developing quality medical technology products. We are pleased to have introduced an updated medical grade battery configuration from a qualified German vendor,” said Kleanthis G. Xanthopoulos, Ph.D., President and CEO of IRRAS. “Looking ahead, we are sharply focused on accelerating our commercial plans to expand sales in the EU markets, in the United States pending approval by the FDA, and in other selective worldwide markets.”

Investor and Media Contact:
Fredrik Alpsten
CFO and Deputy CEO
+46 706 67 31 06

This information is 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 18 January 2017 at 08.30 a.m. (CET).