Amphion Innovations PLC Update on Polarean Imaging Limited (1121W)
November 10 2017 - 2:00AM
UK Regulatory
TIDMAMP
RNS Number : 1121W
Amphion Innovations PLC
10 November 2017
Amphion Innovations plc
("Amphion" or "the Company")
Update on Polarean Imaging Limited
London and New York, 10 November 2017 - Amphion Innovations plc
(AIM: AMP), the developer of medical, life science, and technology
businesses, is pleased to announce an update regarding its partner
company Polarean Imaging Limited ("Polarean"), in which Amphion
currently has an interest of circa 26%.
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.
Further to the Company's announcement of 31 May 2017, Polarean's
proposed IPO and admission to AIM is progressing. As such,
Northland Capital Partners ("Northland"), who are acting as
Polarean's Nominated Adviser and Broker, has today published a
research report on Polarean ahead of an investor roadshow (the
"Northland Research Report").
The Northland Research Report anticipates a pre new money
valuation of Polarean of circa US$29 million, compared with the
valuation of circa US$22 million (on a post new money basis) which
was implied by the pre-IPO fundraise of US$2 million, completed by
Polarean in May 2017, and the further grant of options in
Polarean.
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 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.
The distribution of the Northland Research Report, which is
classified under FCA Rules as a non-independent marketing
communication, is subject to a number of restrictions and as such
will not be made available to retail investors.
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.
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
Limited (Joint Corporate Broker) 3861 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
This information is provided by RNS
The company news service from the London Stock Exchange
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