Chief Executive Chris Von Jao discusses Polarean’s strategic update focusing on five pillars to drive long-term value creation. The pillars include driving utilization, growing the user base, expanding reimbursement coverage, increasing the addressable market, and forming partnerships to enhance the uptake of their lung imaging technology.
Key Insights:
– Driving Utilization: Polarean has made progress in driving clinical utilization of their technology, with conversions of research centers like Cincinnati Children’s and University of Missouri. The aim is to increase the number of scans per week to enhance scalability and value creation in the long term.
– Growing the User Base of Polarean: The company has expanded its user base by establishing its first academic medical center outside existing research centers, signifying growth and market penetration beyond initial boundaries.
– Expanding Reimbursement Coverage: Securing a new reimbursement code has been pivotal for Polarean, leading to positive procedural economics for medical centers conducting scans, especially with Medicare reimbursements, which is crucial for older adult patients.
– Increasing The Addressable Market: Polarean is focused on expanding its market by submitting applications to the FDA for labeling expansion and refining plans for future trials to include gas exchange, broadening the scope of applications for their technology.
– Forming Partnerships: Collaborations, such as the one with Phillips, have been instrumental in validating the technology, providing credibility, access to customers, and accelerating the commercialization process, which is crucial for a young company like Polarean.
– Financial Needs and Future Outlook: Polarean plans to raise additional capital to support commercialization efforts, particularly in the U.S. market, while preparing for future indications expansion. The company’s laser focus on the U.S. market, combined with strategic partnerships, positions it well for continued growth and success in the field of lung imaging technology.
This interview encapsulates Polarean’s strategic approach to driving the uptake of their innovative lung imaging technology, highlighting key pillars, achievements, challenges, and future prospects are outlined by Chris Von Jao during the discussion.
