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Pin to quick pickspolarean Regulatory News (POLX)

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CMS grants reimbursement code for XENOVIEW

29 Aug 2023 07:00

RNS Number : 5425K
Polarean Imaging PLC
29 August 2023
 

Polarean Imaging Plc

("Polarean" or the "Company") 

 

CMS grants reimbursement code for the Polarean XENOVIEW MRI Technology

Code effective from 1 October 2023

 

Polarean Imaging plc (AIM: POLX), a commercial-stage medical device leader in advanced MRI scanning of the lungs, announces that the US Centers for Medicare & Medicaid Services ("CMS") has established a new reimbursement code for the Polarean XENOVIEW™ (xenon Xe 129, hyperpolarised) technology, effective from 1 October 2023.

 

The code (C9791) enables healthcare providers a path to bill for "magnetic resonance imaging with inhaled hyperpolarised xenon-129 contrast agent, chest, including preparation and administration of agent". This was announced as part of the release of the October 2023 Healthcare Common Procedure Coding System (HCPCS) code set. The payment level associated with the XENOVIEW™ MRI code is yet to be announced and is expected to be received in the coming weeks.

 

Christopher von Jako, Ph.D., Polarean's Chief Executive Officer said: "We have been working diligently with CMS, our clinicians and hospital-based billing stakeholders over the past several months and view this as an important step towards enhancing accessibility to this innovative technology.  We look forward to learning the payment details tied to the new code, in the coming weeks, as we continue to increase access to XENOVIEW MRI for patients suffering from ventilation-associated lung diseases."

 

Enquiries: 

 

Polarean Imaging Plc 

www.polarean.com / www.polarean-ir.com

Christopher von Jako, PhD, Chief Executive Officer 

Via Walbrook PR 

Charles Osborne, Chief Financial Officer

 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 

 

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, diagnose disease, characterise disease progression, and monitor response to treatment. By 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 hyperpolarisation 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 future clinical indications.

 

XENOVIEW IMPORTANT SAFETY INFORMATION

 

Indication

XENOVIEW™, 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 Use

XENOVIEW has not been evaluated for use with lung perfusion imaging.

 

CONTRAINDICATIONS

None.

 

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

 

PLC-RNS-2319

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MSCSEWFFAEDSEIA
Date   Source Headline
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13th Jun 20195:02 pmRNSInvestor Symposium presentations available online
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5th Jun 20197:00 amRNSNew System Order
23rd May 20193:26 pmRNSGrant of Share Options
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21st May 20197:00 amRNS3rd tranche of $3m pediatric study grant confirmed
13th May 20197:00 amRNSClinical trial update
30th Apr 20197:00 amRNSTotal Voting Rights
29th Apr 20197:00 amRNSAppointment of Chief Financial Officer
2nd Apr 20197:00 amRNSExercise of Warrants
1st Apr 20197:00 amRNSAmphion Innovations - Pledge of Polarean shares
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24th Jan 20197:00 amRNSAppointment of Nominated Adviser and Broker
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28th Dec 20182:52 pmRNSResult of General Meeting and Total Voting Rights
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13th Nov 20187:00 amRNSLicencing Agreement with Duke University
6th Nov 20187:00 amRNSCompany update
5th Nov 20187:00 amRNSNominated Adviser Status
3rd Oct 20187:00 amRNSDelivery of Xenon Polariser
23rd Aug 20187:00 amRNSFIRST PATIENT IN PHASE III FDA CLINICAL TRIAL
22nd Aug 20187:00 amRNSHalf-year Report
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10th Jul 20183:22 pmRNSResult of Placing
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19th Jun 20187:00 amRNSInvestor Symposium
13th Jun 20187:00 amRNSFinal Results
6th Jun 20187:00 amRNSDelivery of Xenon Polariser
31st May 20187:00 amRNSLondon Investor Symposium
22nd May 20187:00 amRNSDelivery of Xenon Polariser
20th Apr 20187:00 amRNSGrant of Share Options
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29th Mar 20187:00 amRNSAIM Admission & First Day of Dealings
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