SECTOR: HEALTHCARE
POLAREAN IMAGING (LON:POLX)
SECTOR – HEALTHCARE
RATING – CORP*
MARKET CAP – £13m
CURRENT PRICE – 17p#
ANALYST – BARRY GIBB
Year-end Dec
2017A
Revenue ($m)
1.24
EBITDA ($m)
(3.55)
Adj. pre-tax Profit ($m)
(3.96)
Net Cash/(Debt) ($m)
(0.14)
No forecasts provided
SOURCE: Northland Capital Partners Limited estimates.*Northland Capital Partners Limited provides acts as Nomad and Broker to Polarean Imaging Ltd. and therefore this information should be viewed as a Marketing Communication.
Licensing agreement with Duke University
NORTHLAND VIEW
- Polarean Imaging entered a licencing agreement with Duke University (Duke) for patents regarding the novel use of hyperpolarised gas MRI in pulmonary vascular disease (PVD). PVD disorders can lead to high blood pressure in the blood vessels leading to or from the lungs.
- Duke recently patented a method of using hyperpolarised gas MRI to quantify pulmonary vascular pressure. This non-invasive method may remove the need for costly and invasive catheterisation currently used to confirm PVD and monitor its progression.
- The licencing agreement grants Polarean exclusive rights to the technology who aim to collaborate with Duke to bring the technology to clinic. The license should strengthens the previous licensing of Duke's 3D gas exchange imaging technology to provide a complete diagnostic suite that addresses a critical unmet need in the care of patients with PVD.
- Richard Hullihen, CEO, commented: We are delighted to expand our collaboration with Duke University and are especially excited to be co-developing this novel use for hyperpolarised MRI. With this extension of hyperpolarised xenon technology, we are expanding the usefulness of our core technology to fully address diseases of the airways, lung parenchyma, and now the pulmonary vasculature."
Polarean’s CTO, Bastiaan Driehuys, is a professor of radiology at Duke University. Furthermore, Duke is one of the sites of the Company’s Phase III clinical trial which initiated in August 2018. The trial is testing the Company’s drug-device platform which generates polarised 129-Xenon (129Xe) gas to provide a non-invasive, radiation-free method to visualise lung structure and function using MRI. The trial is a non-inferiority study testing 129Xe MRI, against 133-Xenon scintigraphy, a conventional imaging technique. A non-inferiority trial tests whether the novel technique is not clinically worse than an established control.
COMPANY DESCRIPTION
Polarean Imaging is a healthcare technology company with a proprietary drug-device combination in Phase III clinical trials.