Polarean Imaging PLC Amphion Innovations - Pledge of Polarean shares (5605U)

TIDMPOLX

RNS Number : 5605U

Polarean Imaging PLC

01 April 2019

1 April 2019

Polarean Imaging Plc

("Polarean" or the "Company")

Amphion Innovations plc - Pledge of Polarean shares

Polarean Imaging plc (AIM: POLX), the medical--imaging technology company, with a proprietary drug--device combination product for the magnetic resonance imaging (MRI) market, notes that its partner company Amphion Innovations plc ("Amphion"), has pledged its holding of 18,372,523 shares in Polarean as additional security against its loan facility with its debt provider (the "Lender").

Amphion has transferred the legal title to, but retains the beneficial interest in, the pledged shares in Polarean. In addition, the Lender has agreed to adhere to the terms of an orderly market agreement for the next 12 months with regards to the 18,372,523 Polarean shares.

The full announcement from Amphion is available here

http://www.rns-pdf.londonstockexchange.com/rns/5605U_1-2019-3-29.pdf

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

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 
 
MC Services (European IR)                                                  Tel: [phone] 
Raimund Gabriel 
 
Walbrook PR                                    Tel: [phone] or [e-mail] 
Paul McManus / Anna Dunphy                          Mob: [phone] 
 Helen Cresswell                                                          Mob: [phone] 
 
 

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.

The Group is currently undertaking Phase III Non-Inferiority Clinical Trials for (129) Xe at Duke University and University of Virginia.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

MSCDMGZFVLRGLZM

(END) Dow Jones Newswires

April 01, 2019 02:01 ET (06:01 GMT)