TIDMPOLX
RNS Number : 8750N
Polarean Imaging PLC
27 September 2023
Polarean Imaging Plc
("Polarean" or the "Company")
Directorate appointment
Polarean Imaging plc (AIM: POLX), a commercial-stage medical
device leader in advanced magnetic resonance imaging ("MRI") of the
lungs, announces the appointment of William Blair ("Bill") as an
Independent Non-Executive Director ("NED") to the Board of Polarean
with immediate effect.
Bill is an investment professional, board director and executive
with over 30 years of experience in investment banking, fund
management, venture capital and private equity, with particular
expertise in advising smaller and AIM-listed healthcare
companies.
He currently serves as a NED and Chair of the Audit Committee at
North East Finance, which invested GBP160m in a portfolio of
companies ranging from micro-companies to those now listed on the
London Stock Exchange. in the North East of England and the Tees
Valley. Since July 2020, Bill has also served as an NED for Iksuda
Therapeutics, a biotechnology company focused on developing
antibody-drug-conjugate therapies, providing strategic advice and
support on funding options and exit strategy. Bill is also
currently a director at HVS Advisers, providing strategic advice to
venture capital funds, institutions and SMEs (small and medium
enterprises), and is a member of the Investment Advisory Board at
the Pioneer Group Life Sciences Fund.
Bill will be appointed to the Board on the same basis as regards
voting and term of appointment as the Company's existing
Non-Executive Directors. He will be subject to the same
requirements as contained in the Articles of Association of the
Company for such appointment to be approved at the next Annual
General Meeting of the Company and will be subject to the same
requirements for retirement by rotation as the other Directors.
500,000 share options over ordinary shares in the Company (the
"Share Options") have been granted to Bill. The Share Options will
be exercisable at a price of 52p each per ordinary share in the
Company and will vest 25% on 27 September 2024 with the remaining
Share Options vesting in equal portions on the last day of each
calendar month over the period of 36 months starting on 31 October
2024.
Notifications have been made in accordance with the requirements
of the UK Market Abuse Regulation in respect of the PDMR and
further details can be found by following this link:
https://www.polarean-ir.com/content/investors/shareholder-information
Christopher von Jako, Ph.D., CEO of Polarean, said: "We are
delighted to welcome Bill to the Board of Polarean. We felt it was
important to have someone with further experience of the UK
healthcare sector and with AIM-listed companies on the Board.
Following conversations with Amati Global Investors, our largest
shareholder, and several other shareholders, we identified Bill as
the ideal candidate, given his deep understanding of the UK
investor landscape and vast experience with AIM.
"We believe Bill's expertise will be invaluable to us as we
continue the commercialisation of XENOVIEW and look to address the
unmet medical needs of patients suffering with chronic respiratory
diseases. As a team we look forward to his strategic advice helping
us identify and evaluate the various financing options for the
Company."
William Blair, Non-Executive Director of Polarean, said: "I am
pleased to be joining the Board of Polarean, and to be able to
share my experience as an investment professional and adviser to
innovative companies. I am excited by Polarean's technology and its
potential in both pulmonary and cardio-pulmonary medicine, and look
forward to working with the other Board members to take the Company
forward."
Additional Information
The following information is disclosed pursuant to Rule 17 and
Schedule Two paragraph (g) of the AIM Rules for Companies in
relation to Mr. William Taninhill Blair, aged 68:
Previous Directorships or Partnerships
Current Directorships (previous 5 years)
HVS Advisers Limited Bridge Valley Ventures
North East Finance (Hold co) Iksuda Therapeutics Limited
Limited
North East Finance (Sub co) Limited
North East Technology (GP) Limited
---------------------------------------
Save as disclosed above there are no additional disclosures to
be made in accordance with Rule 17 or Schedule Two paragraph (g) of
the AIM Rules for Companies.
Enquiries:
Polarean Imaging plc www.polarean.com / www.polarean-ir.com
Christopher von Jako, Ph.D, Chief Via Walbrook PR
Executive Officer
Charles Osborne, Chief Financial
Officer
Stifel Nicolaus Europe Limited (NOMAD and
Sole Corporate Broker) +44 (0)20 7710 7600
Nicholas Moore / Samira Essebiyea / Kate Hanshaw (Healthcare
Investment Banking)
Nick Adams / Nick Harland (Corporate Broking)
Walbrook PR Tel: +44 (0)20 7933 8780 or polarean@walbrookpr.com
Anna Dunphy / Phillip Marriage Mob: +44 (0)7876 741 001 / +44 (0)7867
984 082
About Polarean ( www.polarean.com)
The Company and its wholly owned subsidiary, Polarean, Inc.
(together the "Group") are revenue-generating, medical imaging
technology companies operating in the high-resolution medical
imaging space. Polarean aspires to revolutionise pulmonary medicine
by bringing the power and safety of MRI to the respiratory
healthcare community in need of new solutions to evaluate lung
ventilation, diagnose disease, characterise disease progression,
and monitor response to treatment. By researching, developing, and
commercialising novel imaging solutions with a non-invasive and
radiation-free functional imaging platform. Polarean's vision is to
help address the global unmet medical needs of more than 500
million patients worldwide suffering with chronic respiratory
disease. Polarean is a leader in the field of hyperpolarisation
science and has successfully developed the first and only
hyperpolarised MRI contrast agent to be approved in the United
States. The company also commercialises systems (such as the HPX
hyperpolarisation system), accessories (such as Xe-specific chest
coils and phantoms) and FDA-cleared post-processing software (to
support ventilation defect analysis), to support fully integrated
modern respiratory imaging operations.
XENOVIEW IMPORTANT SAFETY INFORMATION
Warnings and Precautions
Risk of Decreased Image Quality from Supplemental Oxygen:
Supplemental oxygen administered simultaneously with XENOVIEW
inhalation can cause degradation of image quality. For patients on
supplemental oxygen, withhold oxygen inhalation for two breaths
prior to XENOVIEW inhalation, and resume oxygen inhalation
immediately following the imaging breath hold.
Risk of Transient Hypoxia: Inhalation of an anoxic gas such as
XENOVIEW may cause transient hypoxemia in susceptible patients.
Monitor all patients for oxygen desaturation and symptoms of
hypoxemia and treat as clinically indicated.
Adverse Reactions
Adverse Reactions in Adult Patients: The adverse reactions (>
one patient) in efficacy trials were oropharyngeal pain, headache,
and dizziness. Adverse Reactions in Paediatric and Adolescent
Patients: In published literature in paediatric patients aged 6 to
18, transient adverse reactions were reported: blood oxygen
desaturation, heart rate elevation, numbness, tingling, dizziness,
and euphoria. In at least one published study of paediatric
patients aged 6 to 18 years, transient decrease in SpO2% and
transient increase in heart rate was reported following
hyperpolarised xenon Xe 129 administration. XENOVIEW is not
approved for use in paediatric patients less than 12 years of
age.
Please see full prescribing information at www.xenoview.net
PLC-RNS-2323
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