Polarean Imaging plc (AIM: POLX), the medical imaging company,
announces that the Company’s Board of Directors has appointed
Christopher von Jako, Ph.D. (“Dr. von Jako”) as Chief Executive
Officer and director of the Company, effective immediately. Dr. von
Jako succeeds Richard Hullihen, who will be retiring and will be
stepping down as a Director of the Company, effective immediately.
Mr. Hullihen will assist the Company in a transitional position for
the next six months.
Since his appointment as CEO in 2017, Richard
has overseen significant progress for Polarean. He led the Company
through its successful IPO in 2018 and over $60M of capital raises
culminating in Polarean receiving FDA approval for XENOVIEW™ (Xenon
Xe129 hyperpolarized) for use with magnetic resonance imaging (MRI)
for evaluation of lung ventilation in adults and pediatric patients
aged 12 years and older, and the initiation of the Company’s
commercial phase.
With 30 years of global healthcare leadership
experience, Dr. von Jako has led both private and publicly listed
businesses, with a proven track record of commercialization while
developing and executing sound business and operating strategies.
He has experience across a multitude of healthcare sectors,
including radiology, pulmonology, and various surgical
interventions.
In his most recent executive position, Dr. von
Jako served as President and CEO of BrainsWay from 2020 to 2023.
BrainsWay (NASDAQ & TASE: BWAY), is a global leader in advanced
non-invasive neurostimulation treatments for mental health
disorders. At BrainsWay, he launched five key differentiated
products, obtained numerous reimbursement coverages, and executed
an equity investment with a follow-on raise of over $45m, comprised
of top-tier US MedTech investors.
Prior to this, Dr. von Jako was CEO of
Dynatronics (NASDAQ: DYNT), a medical device company providing
restorative products to accelerate optimal health, from 2018 to
2019, where he developed a new growth strategy focused on driving
sales, business development, and proactive investor relations.
Before joining Dynatronics, Dr. von Jako served as President and
CEO of NinePoint Medical, Inc., a medical imaging company, where he
successfully secured a significant strategic investment and
long-term partnership with Merit Medical Systems, Inc. He also
served as President and CEO of NeuroTherm, Inc., a pain management
business until its acquisition by St. Jude Medical Corporation.
Earlier in his career, Dr. von Jako worked in senior executive
roles of progressive responsibility with other leading medical
device companies such as Integra LifeSciences, Covidien, Medtronic,
and Radionics.
Dr. von Jako will continue to serve as an
Independent Director on the Board of nView medical Inc., a
privately held MedTech imaging company that generates real-time 3D
images using advanced AI solutions for surgery. He earned a double
B.S. degree from Bates College, an M.S. degree from the
Massachusetts Institute of Technology, and a Ph.D. degree from the
University of Pécs Medical School.
Kenneth West, Chairman of Polarean, said:
“Richard has played a pivotal role in getting Polarean to the
position it is in today, with XENOVIEW™ approved for use by the FDA
with MRI for the evaluation of lung ventilation in adults and
pediatric patients aged 12 years and older, and our
commercialization plan underway. On behalf of the Board, I’d like
to thank Richard for his contribution to the business and we wish
him well in his retirement.
“I would also like to welcome Chris to Polarean.
His extensive experience in leading commercial-stage MedTech
companies, and his training and expertise in radiology will be an
excellent fit for Polarean as we continue our dual strategy of
achieving commercial sales of XENOVIEW™ and establishing strategic
industry collaborations to accelerate growth in the US and
internationally.”
Dr. Christopher von Jako said: “I am
delighted to be joining Polarean at this exciting stage of the
Company’s development. I believe that our current and future
advanced imaging platform will make a big difference to clinicians
in helping manage their patients’ lung conditions, and I look
forward to working with the team to roll XENOVIEW™ out as widely as
possible.”
Richard Hullihen, outgoing Chief Executive
Officer, said: “I am very proud of what we have achieved at
Polarean since I was appointed in 2017. The Company is firmly on
the path to success, and as a long-term shareholder, I look forward
to seeing it continue to grow.”
Enquiries:
Polarean Imaging plc |
www.polarean.com / www.polarean-ir.com |
Dr. Christopher von Jako, Chief Executive Officer |
Via Walbrook PR |
Kenneth West, Chairman |
|
|
|
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 |
|
|
RLF Communications (US media enquiries) |
mrash@rlfcommunications.com |
Michelle Rash |
001 336-823-5501 |
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
revolutionize pulmonary medicine by bringing the power and safety
of MRI to the respiratory healthcare community in need of new
solutions to evaluate lung ventilation. This may help
diagnose disease, characterize disease progression, and monitor
response to treatment. We will be researching, developing, and
commercializing 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 hyperpolarization
science and has successfully developed the first and only
hyperpolarized MRI contrast agent to be approved in the United
States. On Dec. 23, 2022, the FDA granted approval for Polarean’s
first drug device combination product, XENOVIEW™ (Xenon Xe129
hyperpolarized). Xe129 MRI is also currently being studied for
visualization and quantification of gas exchange regionally in the
smallest airways of the lungs, across the alveolar tissue membrane,
and into the pulmonary bloodstream for the development of future
potential clinical indications.
XENOVIEW IMPORTANT SAFETY INFORMATION
IndicationXENOVIEW™, prepared from the
Xenon Xe 129 Gas Blend, is a hyperpolarized contrast agent
indicated for use with magnetic resonance imaging (MRI) for
evaluation of lung ventilation in adults and pediatric patients
aged 12 years and older.
Limitations of UseXENOVIEW has not been
evaluated for use with lung perfusion imaging.
CONTRAINDICATIONSNone.
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 Pediatric and Adolescent
Patients: In published literature in pediatric 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 pediatric patients
aged 6 to 18 years, transient decrease in SpO2% and transient
increase in heart rate was reported following hyperpolarized xenon
Xe 129 administration. XENOVIEW is not approved for use in
pediatric patients less than 12 years of age.
Please see full prescribing information at
www.xenoview.net
POL-PR-2308
Michelle Rash
RLF Communications
mrash@rlfcommunications.com
336-823-5501
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