REG - Polarean Imaging PLC - Directorate Change

Polarean ImagingAnnouncement

27/09/2023 14:00

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RNS Number : 8750N  Polarean Imaging PLC  27 September 2023

Polarean Imaging Plc

("Polarean" or the "Company")

 

Directorate appointment

 

Polarean Imaging plc (AIM: POLX), a commercial-stage medical device leader in
advanced magnetic resonance imaging ("MRI") of the lungs, announces the
appointment of William Blair ("Bill") as an Independent Non-Executive Director
("NED") to the Board of Polarean with immediate effect.

 

Bill is an investment professional, board director and executive with over 30
years of experience in investment banking, fund management, venture capital
and private equity, with particular expertise in advising smaller and
AIM-listed healthcare companies.

 

He currently serves as a NED and Chair of the Audit Committee at North East
Finance, which invested £160m in a portfolio of companies ranging from
micro-companies to those now listed on the London Stock Exchange.  in the
North East of England and the Tees Valley. Since July 2020, Bill has also
served as an NED for Iksuda Therapeutics, a biotechnology company focused on
developing antibody-drug-conjugate therapies, providing strategic advice and
support on funding options and exit strategy. Bill is also currently a
director at HVS Advisers, providing strategic advice to venture capital funds,
institutions and SMEs (small and medium enterprises), and is a member of the
Investment Advisory Board at the Pioneer Group Life Sciences Fund.

 

Bill will be appointed to the Board on the same basis as regards voting and
term of appointment as the Company's existing Non-Executive Directors. He will
be subject to the same requirements as contained in the Articles of
Association of the Company for such appointment to be approved at the next
Annual General Meeting of the Company and will be subject to the same
requirements for retirement by rotation as the other Directors.

 

500,000 share options over ordinary shares in the Company (the "Share
Options") have been granted to Bill. The Share Options will be exercisable at
a price of 52p each per ordinary share in the Company and will vest 25% on 27
September 2024 with the remaining Share Options vesting in equal portions on
the last day of each calendar month over the period of 36 months starting on
31 October 2024.

 

Notifications have been made in accordance with the requirements of the UK
Market Abuse Regulation in respect of the PDMR and further details can be
found by following this
link:  https://www.polarean-ir.com/content/investors/shareholder-information
(https://www.polarean-ir.com/content/investors/shareholder-information)

 

Christopher von Jako, Ph.D., CEO of Polarean, said: "We are delighted to
welcome Bill to the Board of Polarean. We felt it was important to have
someone with further experience of the UK healthcare sector and with
AIM-listed companies on the Board. Following conversations with Amati Global
Investors, our largest shareholder, and several other shareholders, we
identified Bill as the ideal candidate, given his deep understanding of the UK
investor landscape and vast experience with AIM.

 

"We believe Bill's expertise will be invaluable to us as we continue the
commercialisation of XENOVIEW and look to address the unmet medical needs of
patients suffering with chronic respiratory diseases. As a team we look
forward to his strategic advice helping us identify and evaluate the various
financing options for the Company."

 

William Blair, Non-Executive Director of Polarean, said: "I am pleased to be
joining the Board of Polarean, and to be able to share my experience as an
investment professional and adviser to innovative companies. I am excited by
Polarean's technology and its potential in both pulmonary and cardio-pulmonary
medicine, and look forward to working with the other Board members to take the
Company forward."

 

Additional Information

 

The following information is disclosed pursuant to Rule 17 and Schedule Two
paragraph (g) of the AIM Rules for Companies in relation to Mr. William
Taninhill Blair, aged 68:

 

 Current Directorships                  Previous Directorships or Partnerships (previous 5 years)
 HVS Advisers Limited                   Bridge Valley Ventures

 North East Finance (Hold co) Limited   Iksuda Therapeutics Limited

 North East Finance (Sub co) Limited

 North East Technology (GP) Limited

Save as disclosed above there are no additional disclosures to be made in
accordance with Rule 17 or Schedule Two paragraph (g) of the AIM Rules for
Companies.

 

 

Enquiries:

 

 Polarean Imaging plc                                        www.polarean.com / www.polarean-ir.com (http://www.polarean-ir.com)
 Christopher von Jako, Ph.D, Chief Executive Officer         Via Walbrook PR
 Charles Osborne, Chief Financial Officer

 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
revolutionise pulmonary medicine by bringing the power and safety of MRI to
the respiratory healthcare community in need of new solutions to evaluate lung
ventilation, diagnose disease, characterise disease progression, and monitor
response to treatment. By researching, developing, and commercialising 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 hyperpolarisation science and
has successfully developed the first and only hyperpolarised MRI contrast
agent to be approved in the United States.   The company also commercialises
systems (such as the HPX hyperpolarisation system), accessories (such as
Xe-specific chest coils and phantoms) and FDA-cleared post-processing software
(to support ventilation defect analysis), to support fully integrated modern
respiratory imaging operations.

 

 

XENOVIEW IMPORTANT SAFETY INFORMATION

 

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 desaturation 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 Paediatric and Adolescent Patients: In published literature in
paediatric patients aged 6 to 18, 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 was reported following hyperpolarised xenon Xe 129
administration. XENOVIEW is not approved for use in paediatric patients less
than 12 years of age.

 

Please see full prescribing information at www.xenoview.net

 

PLC-RNS-2323

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