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.
TW: Christopher, congratulations on Polarean Imaging's first de novo order for the XENOVIEW polariser. Can you share more about this significant milestone for the company?
CVJ: Thanks, Tom. It's a pleasure to be here. Since I took over as CEO in July, we've made great strides. This de novo order from a prominent Northeast medical institution marks our first brand-new customer, a major step for Polarean.
We've converted our research systems into clinical systems, which has been a significant part of our strategy. This new order signifies our expanding reach and the growing interest in our technology.
TW: You've mentioned the collaboration with Philips. How is this partnership enhancing Polarean's offerings?
CVJ: Our partnership with Philips has been excellent. It focuses on ensuring seamless integration of our products with Philips’ technology, including our FDA-approved MRI coils. We've recently trained Philips' commercial staff in the U.S., which bodes well for our growth in 2024. This collaboration is vital for our technical and commercial progress, helping us to reach more sites and potential customers.
TW: Polarean has several strategic growth initiatives underway. Can you elaborate on these?
CVJ: Certainly. We have five key growth initiatives. First, we're driving utilization of our technology at sites like Cincinnati Children's Hospital and the University of Missouri. Seeing our technology in action and the interest it's generating is exciting.
Secondly, we're expanding our footprint, engaging both new and existing research centres.
Thirdly, establishing Medicare reimbursement has been crucial for us, as it demonstrates a viable return on investment to our partners.
Our fourth initiative is a clinical trial for FDA approval to explore new lung functions. This could revolutionize lung imaging technology. Lastly, we're exploring partnerships with pharma companies, medical device companies, and foundations, which are progressing well.