3rd Feb 2025 14:23
(Alliance News) - Polarean Imaging PLC on Monday said it has signed a distribution agreement for its Xenon MRI platform in Taiwan.
Shares in the medical imaging technology developer were up 12% at 1.40 pence in London on Monday afternoon. The stock remains down 76% over the last year.
Polarean said the deal with Sumtage Enterprise Co Ltd is its first distribution deal to date, as the firm begins to focus on expanding its international reach.
Sumtage is a medical distributor that introduces overseas medical equipment into the Taiwanese market, as well as offering customers additional maintenance and clinical support post-sale.
Polarean Chief Executive Officer said: "Sumtage are highly experienced in selling cutting-edge medical technology in Taiwan, making them the ideal partner to help us expand access to our innovative Xenon MRI platform into this market.
"While our own sales team remains focused on expanding the number of user sites within the United States, I am pleased to see our first commercial entry into the Asia-Pacific region via a high-quality distributor, where we believe our platform can provide great benefit to pulmonary patients and their physicians.
"We will work with Sumtage to achieve regulatory approval for our platform in Taiwan ahead of commercial launch, and look forward to further updating the market in due course."
By Emily Parsons, Alliance News reporter
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