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Amphion Innovations plc - Pledge of Polarean shares

01 April 2019

Polarean Imaging plc (AIM: POLX), the medical‑imaging technology company, with a proprietary drug‑device combination product for the magnetic resonance imaging (MRI) market, notes that its partner company Amphion Innovations plc ("Amphion"), has pledged its holding of 18,372,523 shares in Polarean as additional security against its loan facility with its debt provider (the "Lender").

Amphion has transferred the legal title to, but retains the beneficial interest in, the pledged shares in Polarean. In addition, the Lender has agreed to adhere to the terms of an orderly market agreement for the next 12 months with regards to the 18,372,523 Polarean shares.

The full announcement from Amphion is available here 
http://www.rns-pdf.londonstockexchange.com/rns/5605U_1-2019-3-29.pdf

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

Enquiries:

Polarean Imaging plc www.polarean.com / www.polarean-ir.com
Richard Hullihen, Chief Executive Officer Via Walbrook PR
Richard Morgan, Chairman  
   
SP Angel Corporate Finance LLP Tel: +44 (0)20 3470 0470
David Hignell / Lindsay Mair (Corporate Finance)  
   
MC Services (European IR) Tel: +49 (0)89 210 2280
Raimund Gabriel  
   
Walbrook PR Tel: +44 (0)20 7933 8780
or polarean@walbrookpr.com
Paul McManus / Anna Dunphy / Helen Cresswell Mob: +44 (0)7980 541 893 /
Mob: +44 (0)7879 741 001 /
Mob: +44 (0)7841 917 679

 

About Polarean (www.polarean.com)

The Company and its wholly owned subsidiary, Polarean, Inc. (together the "Group") are revenue generating, medical drug-device combination companies operating in the high resolution functional magnetic resonance imaging market.

The Group develops equipment that enables existing MRI systems to achieve an improved level of pulmonary function imaging and specialises in the use of hyperpolarised Xenon gas (129Xe) as an imaging agent to visualise ventilation and gas exchange regionally in the smallest airways of the lungs, the tissue barrier between the lung and the bloodstream and in the pulmonary vasculature. Xenon gas exhibits solubility and signal properties that enable it to be imaged within other tissues and organs.

The Group operates in an area of significant unmet medical need and the Group's technology provides a novel diagnostic approach, offering a non-invasive and radiation-free functional imaging platform which is more accurate than current methods. The annual burden of pulmonary disease in the US is estimated to be over US $150 billion.

The Group is currently undertaking Phase III Non-Inferiority Clinical Trials for 129Xe at Duke University and University of Virginia.

 

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