Director dealings

RNS Number : 5783O

Polarean Imaging PLC

11 October 2021

 

Polarean Imaging Plc  

("Polarean" or the "Company")

Director dealing

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)				[phone]
Nicholas Moore / Ben Maddison / Samira Essebiyea (Healthcare Investment Banking)
Nick Adams / Fred Walsh (Corporate Broking)
Walbrook PR	Tel: [phone] or [e-mail]
Paul McManus / Anna Dunphy		Mob: [phone]

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  ¹²⁹ Xe 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  ¹²⁹ Xe in MRI equipment for use as a medical diagnostic as well as a method of monitoring the efficacy of therapeutic intervention.

 

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