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Polarean Imaging is fully funded to complete regulatory process

Last updated: 03:05 29 Feb 2024 EST, First published: 01:51 08 Jan 2021 EST

Snapshot

  • Polarean Imaging outlines ambitious investment plans as it looks to commercialise XENOVIEW
  • Polarean Imaging receives "clear indication of belief in the company" from major shareholder
lung

About the company

Polarean Imaging PLC is a revenue-generating medical imaging technology company operating in the high-resolution medical imaging space.

The company aspires to revolutionize pulmonary medicine by bringing the power and safety of MRI to the respiratory healthcare community in need of new solutions to evaluate lung function, diagnose disease, characterize disease progression, and monitor response to treatment.

In December 2022, the company was granted FDA approval for its first drug device combination product, XENOVIEW.

Using a xenon gas blend, XENOVIEW is designed to improve the results of MRI lung scans.

How it is doing

29 Feb 2024

Polarean Imaging PLC (AIM:POLX, OTC:PLLWF) has provided investors with detailed insight into how it intends to commercialise its groundbreaking XENOVIEW technology - a plan that would require at least $10m in additional investment.

In the update, it said shareholders NUKEM Isotopes and Bracco Imaging are ready to stump up $2.5m and $2m respectively, while HMRC has given what's called advanced assurance over the availability of $2.5m under the Enterprise Investment Scheme.

Its plans for the roll-out of the unique lung imaging system are based on its five-pillar growth strategy, focusing on driving the utilisation of XENOVIEW, expanding its user base, broadening reimbursement coverage, expanding its total addressable market, and developing strategic partnerships.

Supporting this, the new investment would be used to expand and develop the sales team, finalise the anticipated gas exchange clinical trial and provide a financial runway out to 2026.  Polarean expects to cross the Rubicon into profitability in late 2027.

20 Dec 2023

In a recent interview with Thomas Warner from Proactive, Christopher von Jako, CEO of Polarean Imaging PLC (AIM:POLX, OTC:PLLWF), shared exciting developments following the announcement of the company's first de novo order for its cutting-edge XENOVIEW polariser.

Von Jako, who assumed leadership in July, elaborates on the company's ongoing collaboration with global giant Philips and discusses various strategic growth initiatives aimed at bolstering Polarean's position in the market. He also addresses the financial outlook and plans for closing the funding gap by the third quarter of the next year.

07 Dec 2023

Polarean Imaging PLC (AIM:POLX, OTC:PLLWF) hailed the receipt its first de novo order for its XENOVIEW polariser from a top-tier academic medical centre in the US north-east.

The company, which added that its current cash runway is expected to last into the third quarter of 2024, said it is also optimistic about the “positive” meetings and active negotiations it is having with other top-tier academic medical centres.

What management says

17 Jan 2024

Polarean Imaging PLC (AIM:POLX, OTC:PLLWF) CEO Christopher von Jako speaks to Thomas Warner from Proactive after the medical imaging technology company announced that NUKEM Isotopes GmbH recently increased its stake in Polarean to over 10%, marking a shift in the company's shareholder dynamics.

Von Jako explains that NUKEM, a key player in the trading of stable isotopes used in various industries including medical imaging, has been a long-term partner of Polarean. They supply xenon-129 gas, a critical component of Polarean's functional MRI product.

Von Jako frames it as a strong vote of confidence in Polarean's technology and future, describing it as a "clear indication of interest and belief in the company and the technology." Currently, von Jako is focusing on attending the annual 129Xe MRI Clinical Trials Consortium in Florida, a significant event for discussing scientific and clinical applications of their technology.

Polarean Imaging receives "clear indication of belief in the company" from...

Polarean Imaging PLC (AIM:POLX, OTC:PLLWF) CEO Christopher von Jako speaks to Thomas Warner from Proactive after the medical imaging technology company announced that NUKEM Isotopes GmbH recently increased its stake in Polarean to over 10%, marking a shift in the company's shareholder...

on 01/17/2024