Polarean Imaging PLC New System Order (0839Q)

TIDMPOLX

RNS Number : 0839Q

Polarean Imaging PLC

15 February 2019

Polarean Imaging Plc

("Polarean" or the "Company")

New System Order with the University of British Columbia

Polarean Imaging plc (AIM: POLX), the medical--imaging technology company, with a proprietary drug--device combination product for the magnetic resonance imaging (MRI) market, announces that it has entered into a contract for the procurement of its latest polarizer system by the University of British Columbia www.ubc.ca ("UBC") following the conclusion of UBC's procurement process.

UBC have received financial support from the Canada Foundation for Innovation ("CFI") www.innovation.ca/about. CFI have also been active in supporting pulmonary imaging research using hyperpolarized (129) Xe in the Toronto area and specifically, the SickKids Hospital in Toronto.

Richard Hullihen, CEO of Polarean, said: "We are excited to welcome Drs. Sin and Leipsic and the staff of UBC to our expanding base of collaborative researchers and look forward to assisting them in achieving the goals of their research programme. UBC has a long history and pioneering reputation in the field of medical imaging research and I look forward to providing further updates regarding our collaboration with UBC as appropriate.

"The Company's management team is excited to see the continued scientific and clinical evolution of hyperpolarized xenon imaging in medicine and to assist in providing our equipment to researchers in order to push these important frontiers."

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 
 Richard Morgan, Chairman 
 
 SP Angel Corporate Finance LLP                                                   Tel: [phone] 
 David Hignell / Lindsay Mair / Jamie Spotswood 
  (Corporate Finance) 
  Vadim Alexandre / Rob Rees (Corporate Broking) 
 
 Walbrook PR                                           Tel: [phone] or [e-mail] 
 Paul McManus / Anna Dunphy                                         Mob: [phone] 
                                                                                                   741 001 
 
 

About Polarean (www.polarean.com)

The Company and its wholly owned subsidiary, Polarean, Inc. (together the "Group") are revenue generating, medical drug-device combination companies operating in the high resolution functional magnetic resonance imaging market.

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 and gas exchange regionally in the smallest airways of the lungs, the tissue barrier between the lung and the bloodstream and in the pulmonary vasculature. Xenon gas exhibits solubility and signal properties that enable it to be imaged within other tissues and organs.

The Group operates in an area of significant unmet medical need and the Group's technology provides a novel diagnostic approach, offering a non-invasive and radiation-free functional imaging platform which is more accurate than current methods. The annual burden of pulmonary disease in the US is estimated to be over US$150 billion.

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February 15, 2019 02:00 ET (07:00 GMT)