Amphion Innovations PLC Partner Company m2m Imaging Corp. to merge (6207E)
November 05 2015 - 2:00AM
UK Regulatory
TIDMAMP
RNS Number : 6207E
Amphion Innovations PLC
05 November 2015
Amphion Innovations plc
("Amphion" or "the Company")
Partner Company m2m Imaging Corp. to merge
London and New York, 5 November 2015 - Amphion Innovations plc
(AIM: AMP), the developer of medical, life science, and technology
businesses, today announces that it has signed a Memorandum of
Understanding ("MOU") with an undisclosed pioneer and leader in
advanced pulmonary imaging technology ("the Private Company").
Conditional upon the fulfillment of certain terms, and following
the merger of Amphion's Partner Company, m2m Imaging Corp. ("m2m")
with the Private Company, Amphion expects to own approximately 40%
of the combined merged entity.
m2m is a US-based company focused on developing a range of
preclinical and clinical imaging system accessories for MRI
systems. As of 31 December 2014, Amphion owned 25.58% of m2m. The
Private Company owns an advanced pulmonary imaging technology
platform which is used to more accurately diagnose and monitor
major lung diseases, including COPD, asthma, and cystic
fibrosis.
Richard Morgan, CEO of Amphion, said:
"There is a continuing need for better imaging to more
accurately diagnose and monitor major lung diseases. Given its
unique position with regard to sensitivity, resolution, and
non-invasiveness, MRI plays an increasingly important role in
providing these higher quality images. The Private Company which we
plan to merge with m2m has advanced pulmonary imaging technology
which is sold as an add-on component to an existing, already
installed base of MRI machines. The combined company will have an
array of products serving the multi-billion dollar MRI marketplace
in both the US and Europe.
"Lung Disease is a major global public-health issue affecting
over 40 million people in the US and costs the US $150 billion
annually."
For further information please contact:
Amphion Innovations
Charlie Morgan
+1 212 210 6224
Yellow Jersey PR
Charles Goodwin / Dominic Barretto
+44 (0)7747 788 221
Panmure Gordon Limited (Nominated Adviser and Corporate
Broker)
Freddy Crossley / Duncan Monteith (Corporate Finance)
Charlie Leigh-Pemberton (Corporate Broking)
+44 (0)20 7886 2500
Northland Capital Partners Limited (Joint Corporate Broker)
Patrick Claridge / David Hignell (Corporate Finance)
John Howes / Mark Treharne (Corporate Broking)
+44 (0)20 7382 1100
Plumtree Capital Limited (Financial Adviser)
Stephen Austin
+44 (0)20 7183 2493
+646 568 7502
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 7 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. The Partner Companies collectively own or
control over 200 separately identified pieces of intellectual
property, a number which grows rapidly each year.
On the web: www.amphionplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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