Corporate News

Polarean Imaging plc (AIM: POLX), a clinical stage medical imaging technology company developing a proprietary magnetic resonance imaging (MRI) drug-device combination, announces that in light of the UK Government’s latest announcements in response to the Covid-19 outbreak, it is no longer practical to hold the forthcoming General Meeting at the Reed Smith LLP London office.

The General Meeting will still proceed at 2.00pm (BST), or 9am US local time, on the previously notified date of 1 April 2020 but, pursuant to Polarean’s articles of association, the Board has determined that it will instead be held at the Company's offices (2500 Meridian Parkway (Suite 175), Durham, NC 27713, USA) and that only the number of shareholders required for the General Meeting to be quorate should physically attend. The Board encourages shareholders who have not already done so to submit their votes by proxy rather than attend the General Meeting in person.

The Company will provide a facility for shareholders to join the General Meeting either online or telephonically and there will be an opportunity for shareholders to ask questions. In order to facilitate the process, and so that questions can be fully answered at the end of the meeting, the Board would request questions to be submitted in advance, before 5pm (BST) on Monday, 30 March 2020.

To register for dial-in details and to submit any questions please contact Walbrook PR via email at [email protected] or call +44 (0)20 7933 8780.

A letter addressed to the Company’s shareholders which provides additional information regarding the new arrangements for the General Meeting is now available to download via the Company’s website at: https://www.polarean-ir.com/content/investors/shareholder-information

Enquiries:

About Polarean’s Technology

Polarean's technology produces hyperpolarized inert Xenon gas, used in conjunction with standard MRI to create high-resolution three-dimensional functional maps of the human lung. This technique provides a unique and sensitive way to monitor changes in lung structure and function; it is currently used in basic and clinical research to study lung physiology and to monitor the efficacy of new drugs.

The central equipment required for hyperpolarized gas MRI is a polarizer. Using circularly polarized laser light, the polarizer transforms the inert, stable noble gas isotope 129Xenon into its hyperpolarized state. This process leaves the gas chemically unchanged, while only the nucleus is magnetically aligned. The resulting MRI signal is enhanced by a factor of 100,000, making direct imaging of gas atoms possible.

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 medical imaging market.

The Group develops equipment that enables existing MRI systems to achieve an improved level of pulmonary function imaging and specializes in the use of hyperpolarized Xenon gas (129Xe) as an imaging agent to visualize ventilation.129Xe gas is currently being studied for visualization of 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 also develops and manufactures high performance MRI radiofrequency (RF) coils which are a required component for imaging 129Xe in the MRI system. The development of these coils by the Group facilitates the adoption of the Xenon technology by providing application-specific RF coils which optimize the imaging of 129Xe in MRI equipment for use as a medical diagnostic as well as a method of monitoring the efficacy of therapeutic intervention.