IRRAS Promotes Will Martin to Chief Executive Officer

Having established a strong manufacturing, clinical and regulatory foundation, Company to focus primarily on commercialization

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IRRAS

Apr 21, 2021, 14:07 ET

STOCKHOLM, April 21, 2021 /PRNewswire/ -- IRRAS, a commercial-stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, today announced that its Board of Directors has appointed Will Martin as President and Chief Executive Officer (CEO) of the Company. Will Martin, currently the company's President and Chief Commercial Officer, will assume his new role on July 1, 2021, He will succeed current CEO, Kleanthis G. Xanthopoulos, Ph.D., who will remain on IRRAS' Board of Directors and will serve as a company advisor during a transition period.

Will Martin joined IRRAS in 2018. Prior to IRRAS, he served as General Manager of the Peripheral Vascular devices business for Philips Healthcare, Vice President of Commercial Operations at AtheroMed, Inc. prior to its acquisition by Volcano Corporation, and held other key commercial roles at other life science companies. He received a BA degree from The University of Notre Dame and an MBA from Johns Hopkins University and also served as a Lieutenant in the United States Navy.

"Dr. Xanthopoulos has built a strong medical and technical foundation for IRRAS within the expanding market for neurocritical care. Critical fundamental elements, such as establishing in-house manufacturing, strengthening our organization, securing key regulatory approvals, and growing sales, are now in place," said Marios Fotiadis, Chairman of IRRAS' Board of Directors. "We have been planning for a potential transition since Will Martin was promoted to President in June. With IRRAS now positioned for faster commercial expansion, the timing is right."

"During my time at IRRAS, we've made meaningful progress in building a strong foundation for future expansion across all areas of our business," said Will Martin. "I am incredibly excited to lead our Company through its next phase of growth and will work closely with our team members to become a global leader in neurocritical care."

"We have now treated over 200 patients with IRRAflow at more than 30 leading institutions in 18 countries across 3 continents with extremely positive treatment outcomes. Our other product line, Hummingbird, is well positioned to increase market share globally in the established market for intracranial pressure monitoring," said Dr. Xanthopoulos. "During Q1, we more than doubled the number of commercial capital systems in the US, and sales are growing faster than ever before. The stage is set, and the time is right for Will to take over as IRRAS' President and CEO. With his strong commercial skills and my continued engagement, IRRAS will have the right set up for the next step of growth and financial value creation."

About IRRAS

IRRAS is a global medical care company focused on 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 AB (publ) is listed on Nasdaq Stockholm (ticker: IRRAS).

For more information, please contact:

USA
Kleanthis G. Xanthopoulos, Ph.D.
CEO
[email protected]

Europe
Sabina Berlin
CFO
+46 73 951 95 02
[email protected]

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 April 21, 2021 at 20:00 (CET).

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IRRAS Promotes Will Martin to Chief Executive Officer

SOURCE IRRAS