REG - Polarean Imaging PLC - Appointment of Dan Brague as consultant

Polarean ImagingAnnouncement

17/04/2023 07:00

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RNS Number : 3358W  Polarean Imaging PLC  17 April 2023

Polarean Imaging Plc

("Polarean" or the "Company")

 

Appointment of Dan Brague as consultant

Strategic counsel to the commercial team, refining XENOVIEW(TM) sales plan

 

Polarean Imaging plc (AIM: POLX), the medical imaging technology company,
announces the appointment of Mr. Daniel ("Dan") Brague, currently a
Non-Executive Director of Polarean, as a consultant to the Company with
immediate effect.

 

Dan Brague will provide strategic advice to the Polarean commercial team to
help refine its marketing and sales plans for the Company's drug device
combination product, XENOVIEW(TM) (xenon Xe 129 hyperpolarised).

 

Dan is a highly accomplished executive leader with a background focused on
enterprise growth and value creation, who joined the Board of Polarean as a
Non-Executive Director in May 2022. He has spent more than 25 years in the
healthcare sector with over 20 years in diagnostic imaging, and a proven track
record across sales & marketing, product innovation, finance and business
strategy. His most recent executive role was as CEO of Curium North America, a
leading global manufacturer of radiopharmaceuticals, specifically including
inhaled gas radioisotopes.

 

Dan will retain his position on the Board as a Non-Executive Director and
Chairman of the Remuneration Committee.

 

Under the terms of the consultancy contract, Polarean will pay Dan an hourly
fee of US$300. This fee is capped at US$100,000 in total.

 

The consultancy agreement with Dan amounts to a related party transaction
within the meaning of the AIM Rules for Companies (the "AIM Rules"). The
Directors who are independent of the related party transaction (being all the
Directors other than Mr. Dan Brague) having consulted with Stifel, the
Company's nominated adviser, consider the terms of the consultancy agreement
to be fair and reasonable insofar as the shareholders of the Company are
concerned.

 

Richard Hullihen, CEO of Polarean Imaging plc said: "Dan brings significant
experience in the commercialisation of innovative medical imaging products
worldwide, including pulmonary diagnostics. His specific background in the US
healthcare environment, reimbursement, and market development will be
invaluable as we look to execute our commercialisation strategy for
XENOVIEW(TM)."

 

Commenting on his appointment, Dan Brague said: "Having served on the
Polarean Board since May 2022, I am a strong believer in the potential of
XENOVIEW(TM) to meet the clinical need for a non-invasive diagnostic
technology for the over 30 million Americans that suffer from a chronic lung
disease. I am pleased to be able to use my experience to support the Polarean
team in its commercialisation activities."

 

Enquiries:

 

  Polarean Imaging plc                                         www.polarean.com / www.polarean-ir.com
  Richard Hullihen, Chief Executive Officer                    Via Walbrook PR
  Kenneth West, Chairman

  Stifel Nicolaus Europe Limited (NOMAD and Sole Corporate Broker)                 +44 (0)20 7710 7600
  Nicholas Moore / Samira Essebiyea / Kate Hanshaw (Healthcare Investment
 Banking)
  Nick Adams / Nick Harland (Corporate Broking)

  Walbrook PR         Tel: +44 (0)20 7933 8780 or polarean@walbrookpr.com
  Anna Dunphy / Phillip Marriage           Mob: +44 (0)7876 741 001 / +44 (0) 7867 984 082

 

 

About Polarean (www.polarean.com)

The Company and its wholly owned subsidiary, Polarean, Inc. (together the
"Group") are revenue-generating, medical imaging technology companies
operating in the high-resolution medical imaging space.  Polarean aspires to
revolutionize pulmonary medicine by bringing the power and safety of MRI to
the respiratory healthcare community in need of new solutions to evaluate lung
function, diagnose disease, characterize disease progression, and monitor
response to treatment. By researching, developing, and commercializing novel
imaging solutions with a non-invasive and radiation-free functional imaging
platform, Polarean's vision is to help address the global unmet medical needs
of more than 500 million patients worldwide suffering with chronic respiratory
disease. Polarean is a leader in the field of hyperpolarization science and
has successfully developed the first and only hyperpolarized MRI contrast
agent to be approved in the United States. On December 23, 2022, the FDA
granted approval for Polarean's first drug device combination product,
XENOVIEW(TM) (xenon Xe 129 hyperpolarized). (129)Xe MRI is also currently
being studied for visualization and quantification of gas exchange regionally
in the smallest airways of the lungs, across the alveolar tissue membrane, and
into the pulmonary bloodstream for future clinical indications.

 

 

About Xenoview

 

Indication

Xenoview, prepared from the xenon Xe 129 Gas Blend, is a hyperpolarised
contrast agent for use with magnetic imaging (MRI) for evaluation of lung
ventilation in adults and paediatric patients aged 12 years and older.

 

Limitations of Use

Xenoview has not been evaluated for use with lung perfusion imaging.

Important Safety Information

 

Contraindications

None.

 

WARNINGS AND PRECAUTIONS

Risk of Decreased Image Quality from Supplemental Oxygen: Supplemental oxygen
administered simultaneously with XENOVIEW inhalation can cause degradation of
image quality.  For patients on supplemental oxygen, withhold oxygen
inhalation for two breaths prior to XENOVIEW inhalation, and resume oxygen
inhalation immediately following the imaging breath hold.

 

Risk of Transient Hypoxia:  Inhalation of an anoxic gas such as XENOVIEW may
cause transient hypoxemia in susceptible patients.  Monitor all patients for
oxygen saturation and symptoms of hypoxemia and treat as clinically indicated.

 

ADVERSE REACTIONS

Adverse Reactions in Adult Patients:  The adverse reactions (> one
patient) in efficacy trials were oropharyngeal pain, headache, and dizziness.

 

Adverse Reactions in Pediatric Patients:  In published literature in
paediatric patients aged 6 to 18 years, the following transient adverse
reactions were reported:  blood oxygen desaturation, heart rate elevation,
numbness, tingling, dizziness, and euphoria.   In at least one published
study of paediatric patients aged 6 to 18 years, transient decrease in SpO2%
and transient increase in heart rate were reported following hyperpolarised
xenon Xe 129 administration.  XENOVIEW is not approved for use in paediatric
patients less than 12 years of age.

 

See full U.S. Prescribing Information at www.xenoview.net

 

XENOVIEW has received marketing approval in the United States and not in other
countries.

 

XENOVIEW(TM) is a trademark of Polarean, Inc.
 

 

 

 

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