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Polarean Imaging PLC

Amphion Innovations - Pledge of Polarean shares

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RNS Number : 5605U
Polarean Imaging PLC
01 April 2019
 

1 April 2019

Polarean Imaging Plc 

("Polarean" or the "Company")

 

Amphion Innovations plc - Pledge of Polarean shares

 

Polarean Imaging plc (AIM: POLX), the medical‑imaging technology company, with a proprietary drug‑device combination product for the magnetic resonance imaging (MRI) market, notes that its partner company Amphion Innovations plc ("Amphion"), has pledged its holding of 18,372,523 shares in Polarean as additional security against its loan facility with its debt provider (the "Lender").

 

Amphion has transferred the legal title to, but retains the beneficial interest in, the pledged shares in Polarean. In addition, the Lender has agreed to adhere to the terms of an orderly market agreement for the next 12 months with regards to the 18,372,523 Polarean shares.

The full announcement from Amphion is available here 
http://www.rns-pdf.londonstockexchange.com/rns/5605U_1-2019-3-29.pdf

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

 

Enquiries:

 

Polarean Imaging plc

www.polarean.com / www.polarean-ir.com

Richard Hullihen, Chief Executive Officer

Via Walbrook PR

Richard Morgan, Chairman

 

 

 

SP Angel Corporate Finance LLP

Tel: +44 (0)20 3470 0470

David Hignell

 

Lindsay Mair

 

 

 

MC Services (European IR)

Tel: +49 (0)89 210 2280

Raimund Gabriel

 

 

 

Walbrook PR

Tel: +44 (0)20 7933 8780 or [email protected]

Paul McManus / Anna Dunphy
Helen Cresswell

Mob: +44 (0)7980 541 893 / +44 (0)7879 741 001
Mob: +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 (129Xe) 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.

 

The Group is currently undertaking Phase III Non-Inferiority Clinical Trials for 129Xe at Duke University and University of Virginia.


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 [email protected] or visit www.rns.com.
 
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Quick facts: Polarean Imaging PLC

Price: £0.18

Market: AIM
Market Cap: £20.6 m
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