TIDMPOLX

RNS Number : 7062B

Polarean Imaging PLC

12 October 2020

Polarean Imaging Plc

("Polarean" or the "Company")

New System Order

Polarean Imaging plc (AIM: POLX), the medical-imaging technology company, with an investigational proprietary drug-device combination product for the magnetic resonance imaging (MRI) market, announces the Company has received its latest research unit order for a 9820 Xenon Polariser system from the University of Texas MD Anderson Cancer Center ("MD Anderson Cancer Center").

MD Anderson Cancer Center is a major cancer research and teaching hospital. This new unit will initiate their research programme using hyperpolarised noble gas imaging in oncology, including assessing lung function as consequence of chemotherapy and radiation therapies, and providing guidance for improved radiation treatment planning, among other topics.

Richard Hullihen, CEO of Polarean, said: "We are excited to begin our relationship with MD Anderson Cancer Center who have pioneered such a breadth of oncology applications for medical imaging for this patient population, and welcome them to the group of our users researching the use of hyperpolarised 129 Xe in pulmonary function."

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 
 Jonathan Allis, Chairman 
 
 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 ( 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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October 12, 2020 02:00 ET (06:00 GMT)

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