Brain surgery technology specialists IRRAS plans to relist its shares from Nasdaq First North Premier to Nasdaq Stockholm’s main market at some point this year. The Stockholm-based company has engaged Carnegie Investment Bank as financial advisor.
“Applying for a listing of IRRAS’ shares to Nasdaq Stockholm’s main list has been a goal since we were first listed in 2017, and it reflects the significant progress and achievements we have made since that time, including our commercial-stage product pipeline and global sales initiatives,” said president and chief executive Kleanthis Xanthopoulos.
The group raised Kr290 million (US$30.9 million) at Kr45 per share when it floated in November 2017. Sole coordinator on the deal was ABG Sundal Collier.
The company develops products for brain surgery. The company’s initial product uses a dual lumen catheter that combines active irrigation with ongoing fluid drainage to addres complications associated with the current methods of managing intracranial fluid. It received FDA clearance in July last year.