Shares in Polarean Imaging PLC (AIM:POLX, OTC:PLLWF) rose 6% after the company announced a new commercial partnership with Ascend Imaging to boost US sales of its xenon-based MRI technology.
The agreement, covering four states, allows Ascend to act as an independent sales representative, helping expand Polarean’s footprint without growing its internal team.
The UK-listed group specialises in imaging technology that gives detailed views of lung function, targeting conditions such as asthma and chronic obstructive pulmonary disease. Its system uses hyperpolarised xenon gas to offer real-time visualisation of airflow in the lungs.
The agreement with Ascend, which has deep ties in radiology and medical imaging, is non-exclusive, enabling Polarean to explore similar deals elsewhere.
The company expects the arrangement to drive commercial progress in the second half of 2025.
Polarean said the partnership provides an efficient route to new customers in key markets while supporting its long-term US expansion strategy.
In a note, American broker Stifel told investors: "This agreement makes strategic sense to us and should help to deliver the required acceleration of commercial traction in [the second half].
"Leveraging sales reps organisations to commercialise capital medical equipment is commonplace, as evidenced by Philips using Ascend, which in turn underscores the specific credibility of Ascend."
The shares rose 0.08p to 1.48p. Stifel reiterated its 'buy' advice.