Corporate News

Block Listing Return

28 January 2022

Name of applicant:		Polarean Imaging Plc
Name of scheme:		Polarean Share Option Plan
Number and class of securities originally admitted:		8,000,000 ordinary shares of £0.00037 each
Date of admission:		29 July 2021
Period of return:	From:	29 July 2021	To:	28 January 2022
Balance of unallotted securities under scheme(s) from previous return:		8,000,000
Plus: The amount by which the block scheme(s) has been increased since the date of the last return (if any increase has been applied for):		0
Less: Number of securities issued/allotted under scheme(s) during period (see LR3.5.7G):		443,030
Equals: Balance under scheme(s) not yet issued/allotted at end of period:		7,556,970
Total number of securities in issue at the end of the period		209,516,196

Name of contact:	Richard Hullihen, Chief Executive Officer
Telephone number of contact:	+44 (0)20 7933 8780 or [email protected]

Enquiries:

Polarean Imaging plc			www.polarean.com / www.polarean-ir.com
Richard Hullihen, Chief Executive Officer			Via Walbrook PR
Jonathan Allis, Chairman

Stifel Nicolaus Europe Limited (NOMAD and Sole Corporate Broker)				+44 (0)20 7710 7600
Nicholas Moore / Ben Maddison / Samira Essebiyea (Healthcare Investment Banking)
Nick Adams / Fred Walsh (Corporate Broking)

Walbrook PR	Tel: +44 (0)20 7933 8780 or [email protected]
Paul McManus / Anna Dunphy		Mob: +44 (0)7980 541 893 / +44 (0)7879 741 001

About Polarean (www.polarean.com)

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

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. ¹²⁹Xe gas is currently being studied for visualisation of gas exchange regionally in the smallest airways of the lungs, across the alveolar tissue barrier, and into the pulmonary bloodstream.

In October 2020, the Group submitted a New Drug Application (“NDA”) to the FDA for hyperpolarised ¹²⁹Xe used to evaluate pulmonary function and to visualise the lung using MRI. The Group received a complete response letter on 5 October 2021.

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

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