Polarean Imaging PLC Licencing Agreement with Duke University (1217H)
13 November 2018 - 6:01PM
UK Regulatory
TIDMPOLX
RNS Number : 1217H
Polarean Imaging PLC
13 November 2018
13 November 2018
Polarean Imaging Plc
("Polarean" or the "Company")
Licencing Agreement with Duke University
Polarean Imaging plc (AIM: POLX), the medical--imaging
technology company, with a proprietary drug--device combination
product for the magnetic resonance imaging (MRI) market,
provides shareholders with the following update on Company
progress:
Patent Licence / New Market Opportunity in Pulmonary Vascular
Disease
The Company announces that it has entered into a licencing
agreement with Duke University for patents related to an entirely
new use for hyperpolarised gas imaging in the field of pulmonary
vascular disease ('PVD'). This opens the potential for Polarean to
address an additional unmet medical need in diagnosis and
monitoring of cardiopulmonary conditions.
Pulmonary vascular disease (PVD) is a group of disorders that
cause high blood pressure in the lungs (pulmonary hypertension).
Prevalence is significant in the western world, and hundreds of
thousands of patients suffer from the disease in the US alone
(source: American Thoracic Society link). Specifically, pulmonary
arterial hypertension ('PAH') is difficult to diagnose and requires
invasive and expensive heart catheterisation to diagnose. New drugs
are available to address PAH, but these drugs are driving up the
average annual cost of caring for some of these patients to over US
$100,000. As such, frequent monitoring of the effectiveness of
these new therapies is essential.
Duke University has recently patented a method of using
hyperpolarised gas MRI in a novel, non-invasive manner to quantify
pulmonary vascular pressure, potentially eliminating the need for
the costly and invasive catheterisation required to confirm PVD and
monitor its progression.
The licencing agreement with Duke University grants Polarean
exclusive rights to the technology, and the Company will work with
Duke to drive this new technology towards clinical use and
regulatory approval. This license further strengthens the previous
licensing of Duke's 3D gas exchange imaging technology to provide a
complete diagnostic suite that addresses a critical unmet need in
the care of patients with PVD.
Richard Hullihen, CEO of Polarean, said: "We are delighted to
expand our collaboration with Duke University and are especially
excited to be co-developing this novel use for hyperpolarised MRI.
With this extension of hyperpolarised xenon technology, we are
expanding the usefulness of our core technology to fully address
diseases of the airways, lung parenchyma, and now the pulmonary
vasculature."
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 Officer Via Walbrook PR
Richard Morgan, Chairman
Northland Capital Partners Limited Tel: +44 (0)20 3861 6625
David Hignell / Gerry Beaney / Jamie Spotswood
(Corporate Finance)
Vadim Alexandre / Rob Rees (Corporate Broking)
MC Services (European IR) Tel: +49 (0)89 210 2280
Raimund Gabriel
The Life Sciences Division (Financial Adviser)
Navid Malik, Director Mob: 07957 224 730
Alia Minhas, CEO Mob: 07590 696 057
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
Helen Cresswell 741 001
+44 (0)7841 917 679
About Polarean (www.polarean.com)
The Company and its wholly owned subsidiary, Polarean, Inc.
(together the "Group") are revenue generating, medical drug-device
combination companies operating in the high resolution functional
magnetic resonance imaging market.
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 and gas exchange regionally
in the smallest airways of the lungs, the tissue barrier between
the lung and the bloodstream and in the pulmonary vasculature.
Xenon gas exhibits solubility and signal properties that enable it
to be imaged within other tissues and organs.
The Group operates in an area of significant unmet medical need
and the Group's technology provides a novel diagnostic approach,
offering a non-invasive and radiation-free functional imaging
platform which is more accurate than current methods. The annual
burden of pulmonary disease in the US is estimated to be over US
$150 billion.
The Group is currently undertaking Phase III Non-Inferiority
Clinical Trials for (129) Xe at Duke University and University of
Virginia.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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