Polarean Imaging PLC (AIM:POLX, OTC:PLLWF) announced its latest new order for a Xenon MRI System, from the University of Alabama at Birmingham (UAB) Hospital.
The order from the hospital, a top-tier academic institution in the southeastern United States, extends the company's innovative imaging technology to an additional major hospital for the first time, Polarean noted.
It marks the increasing adoption of Polarean's advanced MRI solutions.
"Expanding our user base is one of the five key growth pillars we identified last year, and so I am delighted to have received our second de novo system order from UAB Hospital, a prestigious top-tier US academic facility,” chief executive Christopher von Jako said in a statement.
“Hospital acquisition of new capital equipment can be a lengthy process, and so momentum continues to build for our sales success.”
Revenue won through new orders and completed sales in 2024 will now tally some $2.5 million, the Polaren CEO highlighted, adding that the company is expecting further orders.
Polarean said it expects to install the new system later this year and would work closely with the hospital team to build a strong Xenon MRI program.
The company noted that the collaboration will facilitate clinical imaging, research funded by the National Institutes of Health, and pharmaceutical-sponsored trials.
"Feedback on the Polarean technology from physicians continues to be overwhelmingly positive, and we look forward to working closely with clinicians and scientists at UAB hospital to help establish the approved use of XENOVIEW for the visualisation of ventilation patients aged 12 and older,” Polarean chief commercial officer added.
“We are continuing to have productive meetings with our other high-priority centres, as they work through the necessary steps of the value assessment and procurement process.
“These centres are becoming increasingly aware of our technology's clinical, scientific, and economic value in lung ventilation, as well as research into gas exchange and cardiopulmonary for future applications, where we recently strengthened our patent portfolio."