Intuitive Investments Group plc Investment in Altair (1843U)
March 31 2021 - 10:18AM
UK Regulatory
TIDMIIG
RNS Number : 1843U
Intuitive Investments Group plc
31 March 2021
31 March 2021
Intuitive Investments Group plc
Investment in Altair Medical Ltd
Intuitive Investments Group plc (AIM: IIG) ("IIG" or the
"Company"), a closed-end investment company focussed on the life
sciences sector, announces an investment of GBP350,000 to acquire
new ordinary shares in Altair Medical Ltd ("Altair"), representing
a 6.55 per cent. interest in Altair's enlarged share capital, as
part of a GBP2 million fundraising round.
Altair, which was incorporated in February 2018, is developing
an innovative remote respiratory monitoring platform comprising a
small, chest-worn biosensor and AI-driven data analysis/alerting
software for the early detection, prediction and prevention of
adverse events in respiratory patients, both in hospitals and at
home. In 2020, Altair was awarded the Breakthrough Medical Device
designation from the U.S. Food and Drug Administration for the
development of the device, which is designed to monitor breathing
in real-time to a clinical standard of care(1) .
The specially designed wireless biosensor is one of the smallest
available, and transmits data to the cloud using a data hub or
smartphone, alerting the patient, their household members, doctor,
nurse or emergency services where life-threatening changes occur.
Altair's technology will be able to accurately monitor large
numbers of patients in any location at any time. Additional
information relating to Altair can be found at:
https://www.altairmedical.com/home.html.
Altair, per the company's accounts, achieved a loss after tax
for the 12 months ended 30 April 2020 of GBP110,800 and, as at 30
April 2020, had net liabilities of GBP171,843.
Stewart White, Chairman of IIG's Advisory Panel, will be
appointed as non-executive director of Altair.
Notes:-
1 - performance characteristics are yet to be clinically
validated.
For further information, please contact:
Intuitive Investments Group plc www.iigplc.com
David Evans, Executive Chairman Via Walbrook PR
Robert Naylor, CEO
Strand Hanson Limited - Nominated
Adviser +44 (0) 20 7409 3494
James Harris / James Dance / James
Bellman
Turner Pope Investments (TPI) Ltd
- Broker +44 (0) 20 3657 0050
Andrew Thacker / Zoe Alexander
Walbrook PR Limited - Media & Investor +44 (0)20 7933 8780 or intuitive@walbrookpr.com
Relations
+44 (0)7502 558 258 / +44 (0) 7980
Sam Allen / Paul McManus 541 893
About Intuitive Investments Group plc
The Company is a newly established investing company, seeking to
provide investors with exposure to a portfolio concentrating on
fast growing and/or high potential Life Sciences businesses
operating predominantly in the UK, continental Europe and the US,
utilising the Board's experience and in particular that of the
Chairman, David Evans, to seek to generate capital growth over the
long term for shareholders.
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