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RNS Number : 9112Z Polarean Imaging PLC 28 January 2022
Polarean Imaging Plc
("Polarean" or the "Company")
Block Listing Return
Name of applicant: Polarean Imaging Plc
Name of scheme: Polarean Share Option Plan
Number and class of securities originally admitted: 8,000,000 ordinary shares of £0.00037 each
Date of admission: 29 July 2021
Period of return: From: 29 July 2021 To: 28 January 2022
Balance of unallotted securities under scheme(s) from previous return: 8,000,000
Plus: The amount by which the block scheme(s) has been increased since the 0
date of the last return (if any increase has been applied for):
Less: Number of securities issued/allotted under scheme(s) during period (see 443,030
LR3.5.7G):
Equals: Balance under scheme(s) not yet issued/allotted at end of period: 7,556,970
Total number of securities in issue at the end of the period 209,516,196
Name of contact: Richard Hullihen, Chief Executive Officer
Telephone number of contact: +44 (0)20 7933 8780 or polarean@walbrookpr.com
Enquiries:
Polarean Imaging plc www.polarean.com / www.polarean-ir.com
Richard Hullihen, Chief Executive Officer Via Walbrook PR
Jonathan Allis, Chairman
Stifel Nicolaus Europe Limited (NOMAD and Sole Corporate Broker) +44 (0)20 7710 7600
Nicholas Moore / Ben Maddison / Samira Essebiyea (Healthcare Investment
Banking)
Nick Adams / Fred Walsh (Corporate Broking)
Walbrook PR Tel: +44 (0)20 7933 8780 or polarean@walbrookpr.com
Paul McManus / Anna Dunphy Mob: +44 (0)7980 541 893 / +44 (0)7879 741 001
About Polarean (www.polarean.com)
The Company and its wholly owned subsidiary, Polarean, Inc. (together the
"Group") are revenue-generating, investigational drug-device combination
companies operating in the high-resolution medical imaging research space.
The Group develops equipment that enables existing MRI systems to achieve an
improved level of pulmonary function imaging and specialises in the use of
hyperpolarised Xenon gas ((129)Xe) as an imaging agent to visualise
ventilation. (129)Xe gas is currently being studied for visualisation of gas
exchange regionally in the smallest airways of the lungs, across the alveolar
tissue barrier, and into the pulmonary bloodstream.
In October 2020, the Group submitted a New Drug Application ("NDA") to the FDA
for hyperpolarised (129)Xe used to evaluate pulmonary function and to
visualise the lung using MRI. The Group received a complete response letter
on 5 October 2021.
The Group operates in an area of significant unmet medical need and the
Group's technology provides a novel investigational diagnostic approach,
offering a non-invasive and radiation-free functional imaging platform. The
annual economic burden of pulmonary disease in the US is estimated to be over
US $150 billion.
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