Irras AB, a Stockholm, Sweden-based commercial-stage medical technology company, raised $11.25m in funding.
Backers included Serendipity/Ixora, and The Vandel Group, as well as high net-worth healthcare investors in Sweden.
The company will use the funds for EU commercial growth and regulatory approval in the US.
Led by Kleanthis G. Xanthopoulos, Ph.D., Executive Chairman and acting CEO, Irras is a commercial-stage medical technology company formed to develop and commercialize devices for a broad range of brain pathology therapeutic applications and procedures. Its flagship product, IRRAflow™, is a medical device that provides intelligent, dynamic control of CNS fluids to address the complications associated with the occurrence of hemorrhagic stroke.
The company has operations in Germany and La Jolla, USA.