– USA, NC / UK, London – Polarean Imaging plc (LON: POLX), a clinical-stage medical imaging technology company developing a proprietary magnetic resonance imaging drug-device combination, today announced the appointment of Cyrille Petit to its Board as a Non-Executive Director with immediate effect.
“Cyrille’s direct experience is well matched to the markets and the upcoming evolution of Polarean. He is welcome on the Board, and I am excited that he has agreed to join us in the Non-Executive Director role. On behalf of the Board, I would like to welcome Cyrille to Polarean and we look forward to the skills and advice he will bring to the Company.” said CEO Richard Hullihen.
About Cyrille Petit
Mr. Petit is Chief Corporate Development Officer and Head of Strategic Initiatives of the Bracco Group, a global leader in diagnostic imaging and medical devices. Bracco recently acquired a 7.6% interest in the ordinary share capital of Polarean as part of the Company’s £8.4m fundraise, which was first announced on 13 March 2020. As such, Cyrille Petit is joining the Board of Polarean as a representative of Bracco.
Cyrille Petit began his career at Goldman Sachs and went on to specialise in external growth, mergers and acquisitions, and strategy at General Electric, where he worked for 15 years. In 2012, he joined the executive committee of Smith & Nephew PLC as Chief Corporate Development Officer, and later added the responsibilities of President, Global Business Services. There, he led the group’s transformation and helped to accelerate growth through a series of transactions worth in excess of US$3B.
Mr. Cyrille Petit will be appointed to the Board on the same basis as regards voting and term of appointment as the Company’s existing Non-Executive Directors. He will serve on the Audit Committee. He will be subject to the same requirements as contained in the Articles of Association of the Company for such appointment to be approved at the next Annual General Meeting of the Company and will be subject to the same requirements for retirement by rotation as the other Directors.
About Polarean
The Company and its wholly-owned subsidiary, Polarean, Inc. are revenue-generating, medical drug-device combination companies 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 specializes in the use of hyperpolarized Xenon gas (129Xe) as an imaging agent to visualize ventilation.129Xe gas is currently being studied for visualization of gas exchange regionally in the smallest airways of the lungs, the tissue barrier between the lung, and the bloodstream and in the pulmonary vasculature. Xenon gas exhibits solubility and signal properties that enable it to be imaged within other tissues and organs.
The Group also develops and manufactures high-performance MRI radiofrequency coils which are a required component for imaging 129Xe in the MRI system. The development of these coils by the Group facilitates the adoption of the Xenon technology by providing application-specific RF coils which optimize the imaging of 129Xe in MRI equipment for use as a medical diagnostic as well as a method of monitoring the efficacy of the therapeutic intervention.
For more information: http://www.polarean.com
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