Polarean Imaging , a pioneering leader in advanced Magnetic Resonance Imaging (MRI) for pulmonary applications, has successfully concluded a significant $12.6 million financing round through the Alternative Investment Market (AIM) of the London Stock Exchange. The oversubscribed fundraise, co-led by strategic investors NUKEM Isotopes GmbH and Bracco S.p.A., alongside a consortium of new and existing investors, marks a pivotal milestone in accelerating the commercialization of its groundbreaking XENOVIEW™ technology and advancing key strategic growth initiatives.
This funding infusion will bolster Polarean’s efforts across several critical fronts:
- Expansion of Commercial Footprint: Strengthening of Polarean’s commercial team and infrastructure to penetrate top-tier academic medical centers specializing in pulmonary medicine and radiology across the United States.
- Enhanced Reimbursement Coverage: Continued efforts to broaden reimbursement coverage for XENOVIEW™, aimed at increasing accessibility and adoption among healthcare providers.
- Clinical Advancements: Lowering the minimum indicated age for XENOVIEW™ from 12 to 6 years old and planning for adult clinical trials to explore expanded indications, including alveolar gas exchange and pulmonary-vascular hemodynamics.
- Technology Development: Further development of advanced versions of the XENOVIEW polarizer and additional imaging software products to enhance diagnostic capabilities and user experience.
- Partnership Expansion: Strengthening existing partnerships and pursuing new collaborations to amplify the global reach and utilization of Polarean’s transformative pulmonary imaging platform.
Recently, Polarean received a substantial order for its XENOVIEW polarizer from the University of Alabama at Birmingham Hospital, underscoring growing recognition and adoption of its technology within prominent healthcare institutions.
Christopher von Jako, PhD, Chief Executive Officer of Polarean, expressed enthusiasm about the financing round, stating, “I am delighted to secure this funding, which will propel the commercialization of XENOVIEW and advance our strategic initiatives aimed at addressing critical unmet needs in chronic respiratory disease. The support from Bracco, NUKEM Isotopes, and our shareholder base reinforces our commitment to transforming pulmonary imaging and improving patient outcomes.”
Polarean’s XENOVIEW™ is the world’s first and only FDA-approved hyperpolarized Xenon MRI inhaled contrast agent, designed to revolutionize the assessment of lung function with its non-invasive and radiation-free approach. By leveraging hyperpolarization science, Polarean aims to empower clinicians with unprecedented insights into pulmonary health, catering to over 500 million patients globally affected by respiratory conditions.
Founded in 2012, with operational hubs in Durham, NC, and London, United Kingdom, Polarean continues to pioneer advancements in MRI technology, advocating for the widespread adoption of its comprehensive drug-device platform across global healthcare settings.
