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Polarean Imaging raises £2.1mln in share placing

“We are now entering a crucial period in Polarean's development and I look forward to providing our shareholders with further updates as appropriate," said chief executive Richard Hullihen.

Polarean
Polarean said the placing will allow for the swift completion of enrolment for clinical trials

Polarean Imaging PLC (LON:POLX) has raised £2.1mln through a share placing to strengthen the company’s balance sheet and to support phase III clinical trials and product launch planning.

The medical-imaging technology firm issued more than 11.6mln ordinary shares at a price of 18p each.

"We thank our shareholders for their support on this placing which will enable the swift completion of enrolment for the clinical trials via the addition of a third trial site at the University of Cincinnati, allow us to focus our undivided attention on completion of the new drug application and submission following readout and provide valuable resource for post submission launch preparation and planning," said chief executive Richard Hullihen.

"We are now entering a crucial period in Polarean's development and I look forward to providing our shareholders with further updates as appropriate."

Quick facts: Polarean Imaging PLC

Price: 40.5 GBX

AIM:POLX
Market: AIM
Market Cap: £65.54 m
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