Amphion Innovations plc
Partner Company, m2m Imaging Corp. to Merge
London and New York, 5 November 2015- Amphion Innovations plc (AIM: AMP), the developer of medical, life science, and technology businesses, today announces that it has signed a Memorandum of Understanding (“MOU”) with an undisclosed pioneer and leader in advanced pulmonary imaging technology (“the Private Company”).
Conditional upon the fulfillment of certain terms, and following the merger of Amphion’s Partner Company, m2m Imaging Corp. (“m2m”) with the Private Company, Amphion expects to own approximately 40% of the combined merged entity.
m2m is a US-based company focused on developing a range of preclinical and clinical imaging system accessories for MRI systems. As of 31 December 2014, Amphion owned 25.58% of m2m. The Private Company owns an advanced pulmonary imaging technology platform which is used to more accurately diagnose and monitor major lung diseases, including COPD, asthma, and cystic fibrosis.
Richard Morgan, CEO of Amphion, said:
“There is a continuing need for better imaging to more accurately diagnose and monitor major lung diseases. Given its unique position with regard to sensitivity, resolution, and non-invasiveness, MRI plays an increasingly important role in providing these higher quality images. The Private Company which we plan to merge with m2m has advanced pulmonary imaging technology which is sold as an add-on component to an existing, already installed base of MRI machines. The combined company will have an array of products serving the multi-billion dollar MRI marketplace in both the US and Europe.
“Lung Disease is a major global public-health issue affecting over 40 million people in the US and costs the US $150 billion annually.”
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About Amphion Innovations plc
Amphion Innovations is a developer of medical, life science and technology businesses.
We use our extensive experience in company building to invest and build shareholder value in high growth companies in the US and UK. Amphion has significant shareholding in 7 Partner Companies developing proven technologies targeting substantial commercial marketplaces. The Amphion model has been refined to optimise the commercialisation of patents and other intellectual property within the Partner Companies. The Partner Companies collectively own or control over 200 separately identified pieces of intellectual property, a number which grows rapidly each year.