Holding(s) in Company

RNS Number : 5145Z

Polarean Imaging PLC

13 January 2020

 

13 January 2020

Polarean Imaging Plc

("Polarean" or the "Company")

Holding(s) in Company

Polarean Imaging plc (AIM: POLX), the medical-imaging technology company, with a proprietary magnetic resonance imaging (MRI) drug-device combination, received notification on 10 January 2020 that Tyndall Investment Management now holds 4,917,016 ordinary shares of £0.00037 in Polarean, which represents 4.3% of the Company's issued share capital, with voting rights.

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, Soltan Tagiev (Corporate Finance) Vadim Alexandre / Rob Rees (Corporate Broking)
Walbrook PR	Tel: [phone] or [e-mail]
Paul McManus / Anna Dunphy		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 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 (¹²⁹Xe) 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 ¹²⁹Xe 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 ¹²⁹Xe 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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