Polarean Imaging PLC Block listing application (2827G)
July 23 2021 - 4:29AM
UK Regulatory
TIDMPOLX
RNS Number : 2827G
Polarean Imaging PLC
23 July 2021
Polarean Imaging Plc
("Polarean" or the "Company")
Block listing application
Polarean Imaging plc (AIM: POLX), the medical-imaging technology
company, with an investigational proprietary drug-device
combination product for the magnetic resonance imaging (MRI)
market, announces that the Group has made an application to the
London Stock Exchange for a block listing of 8,000,000 new ordinary
shares of GBP0.00037 each in the capital of the Company in the
capital of the Company ("Ordinary Shares") to be admitted to
trading on AIM.
The Ordinary Shares will be issued from time to time pursuant to
the Group's existing share plans including outstanding options
already issued but not yet exercised to employees of the Group.
When issued, the Ordinary Shares under this block listing will
rank pari passu with the Company's existing issued Ordinary Shares.
It is expected that admission will be effective on or around 29
July 2021.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Enquiries:
Polarean Imaging plc www.polarean.com / www.polarean-ir.com
Richard Hullihen, Chief Executive Via Walbrook PR
Officer
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 polarean@walbrookpr.com
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, investigational
drug-device combination companies operating in the high-resolution
medical imaging research space.
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 ((129) Xe) as an
imaging agent to visualise ventilation. (129) Xe gas is currently
being studied for visualisation of gas exchange regionally in the
smallest airways of the lungs, across the alveolar tissue barrier,
and into the pulmonary bloodstream.
In October 2020, the Group submitted a New Drug Application
("NDA") to the FDA for hyperpolarised (129) Xe used to evaluate
pulmonary function and to visualise the lung using MRI. In December
2020, the Group received confirmation of acceptance of its NDA by
the FDA, with a target PDUFA action date of 5 October 2021.
The Group operates in an area of significant unmet medical need
and the Group's technology provides a novel investigational
diagnostic approach, offering a non-invasive and radiation-free
functional imaging platform. The annual burden of pulmonary disease
in the US is estimated to be over US$150 billion.
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END
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July 23, 2021 04:29 ET (08:29 GMT)
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