Polarean Imaging plc
Other OTCCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Christopher Richard Von Jako
- Full Time Employees
- 29
- Sector
- Healthcare
- Industry
- Medical - Devices
- Address
- 2500 Meridian Parkway London NC United States of America 27713
- IPO Date
- Oct 2, 2018
- Website
- polarean.com
- Similar Companies
- Business
- Polarean Imaging plc Polarean Imaging plc is a revenue-generating medical imaging technology company that specializes in hyperpolarized noble gas MRI for pulmonary functional imaging, revolutionizing lung diagnostics through non-invasive, radiation-free visualization of ventilation, gas exchange, and microvascular blood flow in the smallest airways and alveolar spaces. The company develops and commercializes the XENOVIEW drug-device platform, including the proprietary hyperpolarized Xenon Xe 129 gas blend, HPX hyperpolarizers (such as the HPX Hyperpolarisation system), HPX measurement stations, gas manifolds for pressure regulation and purification, software for image analysis, accessories, parts, upgrades, and service contracts; these enable existing MRI systems from partners like Philips, GE HealthCare, and Siemens Healthineers to perform advanced lung function assessments for diseases including COPD, asthma, cystic fibrosis, idiopathic pulmonary fibrosis, pulmonary hypertension, and radiation-induced damage. Founded in 2012 and headquartered in Durham, North Carolina, with a registered office in London, United Kingdom, Polarean operates primarily in the United States while pursuing geographic expansion through distribution agreements, such as with DK Healthcare in South Korea, Sumtage in Taiwan, and collaborations enhancing access in Canada; its wholly-owned subsidiary Polarean, Inc. drives U.S. commercialization targeting academic medical centers, outpatient providers like SimonMed Imaging, pharmaceutical clinical trials via partners like VIDA Diagnostics, and over 500 million patients globally with chronic respiratory conditions. Recent developments include raising US$12.6 million in an oversubscribed financing round in June 2024 with participation from strategic partners Bracco Imaging S.p.A. and NUKEM Isotopes GmbH (its largest shareholder and Xenon-129 supplier), extending cash runway to Q2 2026; installing clinical-grade systems at sites like University of Alabama at Birmingham, Cincinnati Children’s, University of Virginia Health System, and University of Kansas Medical Center, growing to 22 customers with seven clinical sites; submitting a Supplemental New Drug Application in July 2024 to expand XENOVIEW’s indication to pediatric patients aged six and older (from 12), with approval anticipated in H2 2025, and advancing a Phase III trial protocol for gas exchange indications following a March 2025 FDA Type C meeting that reduced estimated costs to US$4-4.5 million; launching an imaging service model with VIDA for pharma trials, including a multinational sub-study starting late 2025; securing U.S. and Chinese patents for dynamic cardiopulmonary imaging; entering a strategic collaboration with SimonMed Imaging; and receiving orders like the National Institutes of Health’s HPX system while reaffirming 2025 revenue guidance of US$5-6 million after exceeding 2024 targets at US$3.1 million.
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