"We have now entered a crucial period for the company as the clinical trials near completion," said Richard Hullihen, chief executive.
Enrolment in the lung transplant pathway trial is now at 98% while 87% of the lung lobe trial has now been filled.
Polarean’s technology enhances images produced by MRI scans in patients suffering from lung conditions.
Currently, MRIs don’t help much in lung analysis but Polarean’s drug-device combination uses hyperpolarised 129-Xenon gas to generate 3D pictures.
By inhaling and holding a small amount of the gas in the lungs for just a few seconds, the patient is able to create a much stronger MRI signal, providing doctors with multiple images of lung structure and function.
There are now 25 of its hyperpolarised Xenon systems.
Investment in the trials meant losses in the half-year to June were US$3.4mln. In July, the company raised US$2.1mln in a placing.