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Polarean Imaging plc.'s technology is for research use only

Corporate News

Director dealing

11 October 2021

Polarean Imaging plc (AIM: POLX), the medical-imaging technology company, with a proprietary drug-device combination product, announces that it was notified that the following Directors have purchased ordinary shares (“Ordinary Shares”) which are summarised in the table below.

Director Number of Ordinary Shares purchased Price per Ordinary Share
Richard Hullihen 153,060 47p
Cyrille Petit 150,000 53p
Jonathan Allis 150,000 53p

Following this Transactions, Mr Hullihen holds a beneficial interest in 3,201,959 Ordinary Shares, representing 1.5 per cent. of the Company's issued share capital with voting rights. Mr Petit holds a beneficial interest in 584,000 Ordinary Shares, representing 0.3 per cent. of the Company's issued share capital with voting rights. Mr Allis holds a beneficial interest in 2,743,129 Ordinary Shares, representing 1.3 per cent. of the Company's issued share capital with voting rights.

Notifications have been made in accordance with the requirements of the EU Market Abuse Regulation in respect of the PDMRs and further details can be found by following this link: https://www.polarean-ir.com/content/investors/shareholder-information

 

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, 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 and less harmful to the patient than current methods. The annual burden of pulmonary disease in the US is estimated to be over US$150 billion.

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 optimise 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.