REG - Polarean Imaging PLC - New system order

Polarean ImagingAnnouncement

14/02/2022 07:00

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RNS Number : 5035B  Polarean Imaging PLC  14 February 2022

Polarean Imaging Plc

("Polarean" or the "Company")

 

New system order

 

Polarean Imaging plc (AIM: POLX), the medical‑imaging technology company,
with an investigational drug‑device combination product using hyperpolarised
xenon-129 gas to enhance magnetic resonance imaging (MRI) in pulmonary
medicine, announces the Company has received an additional research unit order
for a Xenon Polariser system from McMaster University in Ontario, Canada. The
newest unit (version 9820) will supplement the University's existing
hyperpolarisation (129)Xe MRI research programme which is currently using a
prior Polarean model (version 9800).

 

The system will be installed in St. Joseph's Healthcare Hamilton ("SJHH").
SJHH is a member of the St. Joseph's Health System ("St. Joseph's")
(http://www.sjhs.ca/) , and is affiliated with McMaster University
(https://www.mcmaster.ca/) . St. Joseph's is also home to the Firestone
Institute for Respiratory Health, which is an internationally regarded
hospital-based centre-of-excellence for adult pulmonary research and patient
care.

 

Richard Hullihen, CEO of Polarean, said: "We are excited that this
distinguished Canadian academic and research health centre is extending its
utilisation of our (129)Xe MRI technology. This new addition to the
University's hyperpolarised (129)Xe MRI research programme will help to
support its increasing volume of clinical studies, from both academia and drug
industry collaborators. We are pleased to support these researchers' use of
our platform as they continue their efforts to advance pulmonary patient
care."

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) 596/2014.

 

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 / Samira Essebiyea / William Palmer-Brown (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 membrane, 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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