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Amphion Innovations reveals new report implying increased valuation for Polarean Imaging

The group develops equipment that enables existing MRI systems to achieve an improved level of imaging
MRI scanner with medic alongside
Pictured is an MRI scanner

Medical and technology investor Amphion Innovations Plc (LON:AMP) has updated on the credentials of its portfolio firm Polarean Imaging Limited, saying the float on AIM is progressing.

Polarean, which is a specialist in MRI technology, is being prepared for an AIM market float this year– after raising US$2mln in pre-IPO financing during 2016.

READ: Amphion Innovations unit DataTern says it is confident its patents are valid after US court setback

The group develops equipment that enables existing MRI systems to achieve an improved level of lung function imaging.

Significantly, it has clear guidance from the US FDA on the start of a pivotal Phase III trial on its flagship drug-device platform.

Amphion said that Northland Capital Partners, acting as Polarean's nominated advisor and broker, has today published a research report ahead of an investor roadshow.

READ: Amphion Innovations pinning hopes on Polarean Inc after Motif Bio success

The report anticipates a pre-IPO valuation of Polarean of around US$29 mln, compared with the valuation of circa US$22mln(on a post new money basis) implied by the pre-IPO fundraise of US$2 million in May this year.

Amphion has an interest in around 26% of the firm.

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