IRRAS Publishes Update on Financial Situation
Stockholm, Sweden (24 August 2023) – As previously communicated, IRRAS AB (publ) (the “Company” or ”IRRAS”) is in immediate need of funding. Adoption of the Company’s IRRAflow system continues to progress, particularly at hospitals in the United States, and the Company has completed a series of organizational and strategic changes to control its quarterly cash burn. However, such progress has not yet resulted in an improvement in the Company’s short-term financial position. The Company is currently dependent on a short-term loan facility in the amount up to SEK 60 million from Bacara Holdings,