Polarean Imaging PLC Company update (4102G)
November 06 2018 - 1:00AM
UK Regulatory
TIDMPOLX
RNS Number : 4102G
Polarean Imaging PLC
06 November 2018
Polarean Imaging Plc
("Polarean" or the "Company")
Company Update
Polarean Imaging plc (AIM: POLX), the medical--imaging
technology company, with a proprietary drug--device combination
product for the magnetic resonance imaging (MRI) market, provides
shareholders with the following update on Company progress:
New System Installation
Further to the announcement made on 3 October 2018, the Company
announces the installation and commissioning of the latest model of
Polarean's Xenon polariser to The Department of Radiology at
University of Missouri Health Care ("MUHC"). The University of
Missouri, Columbia is the flagship university in the University of
Missouri system. The Department of Radiology at MUHC has a
successful imaging research programme that will be further enhanced
with the addition of hyperpolarised gas MRI. Faculty members Robby
Thomen PhD, Lucia Flors, MD, PhD and Talissa Altes MD bring
expertise from previous work at successful hyperpolarised gas
imaging sites (Dr. Flors and Dr. Altes from University of Virginia
and Dr. Thomen from Cincinnati Children's Hospital) and plan to
establish a new hyperpolarised gas laboratory at MUHC focused on
basic research and clinical translation.
Robby Thomen, Assistant Professor in Radiology and
BioEngineering at MUHC, said: "We believe that hyperpolarised gas
MRI opens a door to numerous applications in medicine and we're
excited to bring the technology to the Midwest. The high
polarisation and throughput afforded by Polarean's device along
with its ease of use is necessary to bring the technology into the
clinic and see real patient benefit. We are excited to work closely
with Polarean to this end."
Richard Hullihen, CEO of Polarean, said: "We are excited to
welcome the University, Drs. Altes, Thomen, and Flores and their
staff to the community of researchers using our technology to
develop these patient-benefitting clinical applications of the
future. These include The University of Oxford, University of
Wisconsin, Fraunhofer Institute, Robarts Institute, University of
North Carolina, and others."
New Order
The Company also announces receipt of a new order to provide an
upgrade to the polariser already operating at SickKids Hospital in
Toronto (www.sickkids.ca), one of its earliest customers. This
upgrade will more than double the system polarisation levels and
will be a benefit to the research programme there in providing
better image quality and results. This acquisition was enabled by a
grant from the Canada Foundation for Innovation (for more
information see: www.innovation.ca/about).
Richard Hullihen, CEO of Polarean, commented: "This is the most
recent example of upgrading earlier polarisers to later levels of
performance and supporting the work of our collaborative
researchers worldwide. The staff at SickKids have co-ordinated one
of the most prolific research programmes in hyperpolarised noble
gas imaging from the start. We are grateful to the CFI for
supporting this vital work and enabling us to upgrade the installed
system there, which is a testament to the development potential of
the original design."
Clinical Trial Update
The Company can also update shareholders that its Phase III
Non-Inferiority Clinical Trial is up and running at both of its
sites, Duke University and University of Virginia. Candidate
patient flows are showing to be as planned for transplant and
resection, screening methods are functioning as designed, enrolment
is happening in both clinical indication pathways and data
collection is in process. Per the design of the trial, data
analysis will begin after a sufficient percentage of patients in
both pathways have been accumulated.
Richard Hullihen, CEO of Polarean, said: "We are grateful to the
staff and our trial institutions Duke and University of Virginia
for their support and performance in conducting the trial, we are
pleased with the performance of our CROs in executing and managing
the trial, and look forward to the on-schedule completion of trial
enrolment during the second quarter of 2019."
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
Northland Capital Partners Limited Tel: +44 (0)20 3861 6625
David Hignell / Gerry Beaney / Jamie Spotswood
(Corporate Finance)
Vadim Alexandre/ Rob Rees (Corporate Broking)
MC Services (European IR) Tel: +49 (0)89 210 2280
Raimund Gabriel
The Life Sciences Division (Financial Adviser)
Navid Malik, Director Mob: 07957 224 730
Alia Minhas, Chief Executive Officer Mob: 07590 696 057
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
Helen Cresswell 741 001
+44 (0)7841 917 679
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 functional
magnetic resonance 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 than current methods. The annual
burden of pulmonary disease in the US is estimated to be over
US$150 billion.
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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