Polarean Imaging PLC New System Order (1545F)

TIDMPOLX

RNS Number : 1545F

Polarean Imaging PLC

11 July 2019

Polarean Imaging Plc

("Polarean" or the "Company")

New System Order

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 received its latest research unit order for a Polarean 9820 Xenon Polariser system from the University of Kansas Medical Center ("KUMC").

KUMC is a major research and teaching hospital (see: www.kumc.edu) and this polariser will form the cornerstone of a new hyperpolarised 129Xe imaging research programme. Following receipt of this order, the Company now has a total of 25 polarisers either installed or on order.

Richard Hullihen, CEO of Polarean, said: "We are delighted to begin our relationship with KUMC and look forward to a long and mutually beneficial work programme which will aim to expand the clinical and public health frontiers of hyperpolarised xenon imaging."

Polarean products are currently being used at a number of research sites on a pre-FDA clearance basis to facilitate the research and evaluation of lung function. For more information on the Polarean 9820 129Xe Hyperpolariser see: http://www.polarean.com/129Xe_hyperpolarizer_9820.html

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 medical 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 and less harmful to the patient than current methods. The annual burden of pulmonary disease in the US is estimated to be over US$150 billion.

The Group also develops and manufactures high performance MRI radiofrequency (RF) coils which are a required component for imaging (129) Xe in the MRI system. The development of these coils by the Group facilitates the adoption of the Xenon technology by providing application-specific RF coils which optimise the imaging of (129) Xe in MRI equipment for use as a medical diagnostic as well as a method of monitoring the efficacy of therapeutic intervention.

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July 11, 2019 02:00 ET (06:00 GMT)