this is Pavas Mehra we are present today
at Pareto Securities' annual Health Care
Conference in Stockholm and with me I
have Kleanthis Xanthopoulos CEO of IRRAS
welcome thank you for having me
so could you please tell us a bit more
about IRRAS and the product that you're
developing. IRRAS is a commercial stage company
focusing on your critical care basically
addressing some very significant health
care unmet needs and we have a
technology that is transformative that
is based on essentially a fluid exchange
in an intelligent way to evacuate
intracranial bleeding from patients and
looking forward out of an investor
perspective are there any specific
events that we can be on the lookout for
absolutely we have received approval by
the US FDA and launched with our own
sales force in in the US in the
beginning of this year so obviously
sales in the US and as we established
our footprint in in the market there it
will be very important to follow we
have some very early forward-looking
successes in in the US the second big
catalyst is of course the
reintroduction of the product in the
European Union we are expecting to hear
in terms of our CE-mark
recertification this year and expect to
be back in in in the market quickly
thereafter in the EU and of course
importantly also to look that we have
global aspirations we have a
transformative company and transformative set
of products we just got approvals in a
couple of other countries Israel is one
for example where we see a global
expansion through a network of
distributors so those three catalysts
would be very important to to follow and
just like shortly about the numbers how
big is the addressable market in the US
and the EU and also the like next big
geographies that you're looking at very
good point the market is big and growing
it's about 1.2 billion when you look in
the EU and the US alone in terms of
intracranial bleeding indications so
it's a very big market currently
dominated by three players and we now
have an assembly of product products and
a system they're unique and
differentiate that we think we can play
in this market and win not just be part
of the market but also be ultimately the
dominant player if you look at globally
we think that will exceed 1.5 billion
potentially up to two billion in total
global sales so very important market
unmet medical need and we're providing
comprehensive solutions that sounds
impressive indeed and in terms of market
share what are we aiming for over the next three years our
target is to have a ten percent market
share that will justify and substantiate
the financial targets that we have two
hundred and seventy five million SEK of
them within the next three years by 2021
is what we have disclosed publicly and I
think because the market is also growing
based on aging population and incidents
of hemorrhagic hematoma and internal
bleeding's are increasing we think we
can do better and substantiate that
those numbers will with a better
penetration in the future thank you very
much for the walkthrough and we're
looking forward to following IRRAS
ahead thank you
thank you very much appreciate it
