Intuitive Investments puts £0.25m into Polarean Imaging

(Sharecast News) - Life science-focussed closed-end investment company Intuitive Investments said on Wednesday that it was acquiring 416,666 shares of Polarean Imaging at a price of 60p each, for a total of £0.25m.
The AIM-traded firm said the investment was part of Polarean's fundraising announced on 15 March, and remained conditional on resolutions being passed at Polarean's general meeting on 6 April.

It said Polarean was a revenue-generating medical drug-device combination group operating in the high-resolution medical 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 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," the board explained in its statement.

"Xenon gas exhibits solubility and signal properties that enable it to be imaged within other tissues and organs."

At 1305 GMT, shares in Intuitive Investments Group were up 9.18% at 22.6p.