Polarean Imaging PLC Appointment of Non-Executive Director (4439O)
01 Junio 2020 - 1:00AM
UK Regulatory
TIDMPOLX
RNS Number : 4439O
Polarean Imaging PLC
01 June 2020
Polarean Imaging Plc
("Polarean" or the "Company")
Appointment of Non-Executive Director
Polarean Imaging plc (AIM: POLX), a clinical stage medical
imaging technology company developing a proprietary magnetic
resonance imaging (MRI) drug-device combination, announces the
appointment of Mr. Cyrille Petit to the Company's Board as a
Non-Executive Director with immediate effect.
Mr. Petit is Chief Corporate Development Officer and Head of
Strategic Initiatives of the Bracco Group, a global leader in
diagnostic imaging and medical devices ("Bracco"). Bracco recently
acquired a 7.6% interest in the ordinary share capital of Polarean
as part of the Company's GBP8.4m fundraise, which was first
announced on 13 March 2020. As such, Cyrille Petit is joining the
Board of Polarean as a representative of Bracco.
Cyrille Petit began his career at Goldman Sachs and went on to
specialise in external growth, mergers and acquisitions, and
strategy at General Electric, where he worked for 15 years. In
2012, he joined the executive committee of Smith & Nephew PLC
as Chief Corporate Development Officer, and later added the
responsibilities of President, Global Business Services. There, he
led the group's transformation and helped to accelerate growth
through a series of transactions worth in excess of US$3B.
Mr. Cyrille Petit will be appointed to the Board on the same
basis as regards voting and term of appointment as the Company's
existing Non-Executive Directors. He will serve on the Audit
Committee. He will be subject to the same requirements as contained
in the Articles of Association of the Company for such appointment
to be approved at the next Annual General Meeting of the Company,
and will be subject to the same requirements for retirement by
rotation as the other Directors.
Richard Hullihen, Chief Executive Officer o f Polarean, said:
"Cyrille's direct experience is well matched to the markets and
upcoming evolution of Polarean. He is welcome on the Board, and I
am excited that he has agreed to join us in the Non-Executive
Director role. On behalf of the Board, I would like to welcome
Cyrille to Polarean and we look forward to the skills and advice he
will bring to the Company."
Information required under Schedule 2(g) of the AIM Rules for
Companies ("AIM Rules")
The following information is disclosed pursuant to Rule 17 and
Schedule Two paragraph (g) of the AIM Rules for Companies in
relation to Cyrille Yann Nicolas Petit, aged 50:
Current Directorships Directorships held over the
past 5 years
Blue Earth Diagnostics Bioventus Inc
Inc
----------------------------
Blue Earth Diagnostics
Limited
----------------------------
Bracco Horizons Limited
----------------------------
Cyrille Petit Conseil
SAS
----------------------------
Flowonix Inc
----------------------------
Reapplix A/S
----------------------------
SCI Berteaux 2000
----------------------------
SCI Caducee
----------------------------
SCI Familiale de Kerminizy
----------------------------
SCI Happy Family
----------------------------
Virbac SA
----------------------------
Cyrille Petit holds 350,000 ordinary shares in the capital of
the Company.
Save as disclosed above, there are no other matters which are
required to be disclosed with regards to the appointment of Cyrille
Petit in accordance Rule 17 and Schedule Two paragraph (g) of the
AIM Rules for Companies .
Market Abuse Regulation Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 ("MAR") until the release of this
announcement.
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.
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END
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