One of Amphion Innovations Plc’s (LON:AMP) partner companies, m2m Acquisition, has merged with Polarean Inc to create Polarean Imaging, a magnetic resonance imaging specialist.
Amphion holds around 26% of the merged entity. Polarean raised US$2mln in funds through a share placing prior to the merger going through.
Polarean’s main technology is a drug-device combination product that enables the visualisation of hyperpolarised Xenon129 via magnetic resonance imaging technology with a particular application for the diagnosis of a number of pulmonary indications.
It is currently being used at a number of research sites on a pre-Food and Drug Administration (FDA) clearance basis to facilitate the research and evaluation of lung function, to assist in making improved disease progression assessment, and to clearly visualise the effectiveness of several therapeutics which are under development.
At present, there are 15 Polarean system units installed at 11 research institutions, and the company expects to sell additional units and consumables for research purposes during the course of the Phase III clinical trial of Polarean’s technology.