TIDMPOLX

RNS Number : 4682H

Polarean Imaging PLC

25 March 2020

Polarean Imaging Plc

("Polarean" or the "Company")

General Meeting: Change of Venue

Polarean Imaging plc (AIM: POLX), a clinical stage medical imaging technology company developing a proprietary magnetic resonance imaging (MRI) drug-device combination, announces that i n light of the UK Government's latest announcements in response to the Covid-19 outbreak, it is no longer practical to hold the forthcoming General Meeting at the Reed Smith LLP London office.

The General Meeting will still proceed at 2.00pm (BST), or 9am US local time, on the previously notified date of 1 April 2020 but, pursuant to Polarean's articles of association, the Board has determined that it will instead be held at the Company's offices (2500 Meridian Parkway (Suite 175), Durham, NC 27713, USA) and that only the number of shareholders required for the General Meeting to be quorate should physically attend. The Board encourages shareholders who have not already done so to submit their votes by proxy rather than attend the General Meeting in person.

The Company will provide a facility for shareholders to join the General Meeting either online or telephonically and there will be an opportunity for shareholders to ask questions. In order to facilitate the process, and so that questions can be fully answered at the end of the meeting, the Board would request questions to be submitted in advance, before 5pm (BST) on Monday, 30 March 2020.

To register for dial-in details and to submit any questions please contact Walbrook PR via email at polarean@walbrookpr.com or call +44 (0)20 7933 8780.

A letter addressed to the Company's shareholders which provides additional information regarding the new arrangements for the General Meeting is now available to download via the Company's website at: https://www.polarean-ir.com/content/investors/shareholder-information

Enquiries:

 
 Polarean Imaging plc                                 www.polarean.com / www.polarean-ir.com 
 Richard Hullihen, Chief Executive                                           Via Walbrook PR 
  Officer 
 
 SP Angel Corporate Finance LLP                                     Tel: +44 (0)20 3470 0470 
 David Hignell / Soltan Tagiev 
  (Corporate Finance) 
 Vadim Alexandre / Rob Rees (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's Technology

Polarean's technology produces hyperpolarized inert Xenon gas, used in conjunction with standard MRI to create high-resolution three-dimensional functional maps of the human lung. This technique provides a unique and sensitive way to monitor changes in lung structure and function; it is currently used in basic and clinical research to study lung physiology and to monitor the efficacy of new drugs.

The central equipment required for hyperpolarized gas MRI is a polarizer. Using circularly polarized laser light, the polarizer transforms the inert, stable noble gas isotope (129) Xenon into its hyperpolarized state. This process leaves the gas chemically unchanged, while only the nucleus is magnetically aligned. The resulting MRI signal is enhanced by a factor of 100,000, making direct imaging of gas atoms possible.

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 specializes in the use of hyperpolarized Xenon gas ((129) Xe) as an imaging agent to visualize ventilation.(129) Xe gas is currently being studied for visualization of 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 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 optimize 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.

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 rns@lseg.com or visit www.rns.com.

END

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(END) Dow Jones Newswires

March 25, 2020 03:00 ET (07:00 GMT)

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