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REG - Polarean Imaging PLC - New system order

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RNS Number : 1269J  Polarean Imaging PLC  25 April 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
(129)Xenon gas to enhance magnetic resonance imaging (MRI) in pulmonary
medicine, announces it has received an additional research unit order for a
Xenon Polariser 9820. The system will be installed in the Center for Pulmonary
Imaging Research at the Cincinnati Children's Medical Center ("CCHMC"). The
Company holds a Small Business Innovation Research grant with the Cincinnati
Children's Center, awarded by the National Heart, Lung and Blood Institute
(NHLBI) in April 2017.

 

CCHMC is a non-profit academic medical center, which is distinguished and
globally renowned for paediatric teaching and research, and is one of the
Company's longest key clinical collaborators. A key focus of the collaboration
is to lead the field of paediatric pulmonary imaging through advanced imaging
techniques and multi-nuclear capabilities, including hyperpolarised
(129)Xenon gas.

 

Jason Woods, Director at the Center for Pulmonary Imaging Research commented:
"We're excited to expand our capabilities with an additional hyperpolariser,
which will facilitate and accelerate clinical trials in the CCHMCand within
the Xe MRI Clinical Trials Consortium. This model also allows future potential
increases in demand."

 

Richard Hullihen, CEO of Polarean Imaging said: "We are pleased to
announce the ordering of the latest model of our xenon polariser from the
CCHMC. We are delighted to be able to support their exceptional programme for
advancing non-invasive hyperpolarised noble gas MR imaging in paediatric
research. The CCHMC have made significant progress in their breakthrough
efforts in early detection, therapy development, evaluation and management and
we believe our partnership can help them improve the outcomes for the most
vulnerable of patients."

 

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
6 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. Cincinnati Children's Medical Center

 

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