Amphion Innovations PLC Further Update on Polarean Imaging Limited (2832X)
November 23 2017 - 2:00AM
UK Regulatory
TIDMAMP
RNS Number : 2832X
Amphion Innovations PLC
23 November 2017
Amphion Innovations plc
("Amphion" or "the Company")
Further Update on Polarean Imaging Limited
London and New York, 23 November 2017 - Amphion Innovations plc
(AIM: AMP), the developer of medical, life science, and technology
businesses, announces a further update regarding its partner
company Polarean Imaging Limited ("Polarean"), in which Amphion
currently has an interest of circa 26%.
Further to the Company's announcement of 10 November 2017,
Polarean's proposed IPO and admission to AIM is now expected to
complete in Q1 2018. Following publication of the Northland
Research Report, the management of Polarean is now seeking interim
funding to ensure there are adequate financial resources to
complete the proposed IPO and gain the best result for Polarean's
shareholders. As a result of the proposed interim financing, the
anticipated monies to be raised and implied valuation set out in
the Northland Research Report, published 10 November 2017, may be
revised to take account of any interim money raised.
The implied valuation in the Northland Research Report is based,
amongst other things, on current market conditions and there can be
no assurance that this valuation will be achieved at the conclusion
of Polarean's future IPO roadshow. Furthermore, there can be no
assurance as to whether or when the IPO of Polarean may be
completed, or as to the actual size or final terms of the IPO.
Further announcements will be made by both Amphion and Polarean
in due course.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Certain capitalised terms in this announcement are with
reference to the announcement made by Amphion at 7.00 a.m. (GMT) on
10 November 2017.
For further information please contact:
Amphion Innovations Tel: +1 (212) 210 6224
Charlie Morgan
Panmure Gordon Limited (Nominated Tel: +44 (0)20
Adviser and Corporate Broker) 7886 2500
Freddy Crossley / Duncan Monteith
(Corporate Finance)
Charlie Leigh-Pemberton
(Corporate Broking)
Northland Capital Partners Tel: +44 (0)20 3861
Limited (Joint Corporate Broker) 6625
Patrick Claridge / David
Hignell (Corporate Finance)
John Howes (Corporate
Broking)
Walbrook PR Tel: +44 (0)20 7933 8780
or
Mike Wort/ Paul McManus amphion@walbrookpr.com
About Amphion Innovations plc
Amphion Innovations is a developer of medical, life science and
technology businesses. We use our extensive experience in company
building to invest and build shareholder value in high growth
companies in the US and UK. Amphion has significant shareholding in
a small number of Partner Companies developing proven technologies
targeting substantial commercial marketplaces. The Amphion model
has been refined to optimise the commercialisation of patents and
other intellectual property within the Partner Companies.
On the web: www.amphionplc.com
About Polarean Imaging Limited
Polarean is a revenue generating, late clinical stage medical
company operating in the high resolution imaging market. Polarean
develops equipment that enables existing MRI systems to achieve an
improved level of pulmonary functional imaging and specialises in
the use of polarised (129) Xenon gas as an imaging agent to
visualise ventilation and gas exchange in the lung. Polarean's
technology could therefore enable the early stage diagnosis of
pulmonary diseases, including Chronic Obstructive Pulmonary Disease
(COPD). Polarean has clear guidance from the US Food and Drug
Administration to commence a pivotal Phase III trial on its
flagship drug-device platform.
This information is provided by RNS
The company news service from the London Stock Exchange
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