Intuitive Investments Group plc Investment in PneumoWave Limited (0009V)
August 05 2022 - 1:00AM
UK Regulatory
TIDMIIG
RNS Number : 0009V
Intuitive Investments Group plc
05 August 2022
5 August 2022
Intuitive Investments Group plc
("IIG" or the "Company")
Investment in PneumoWave Limited
Intuitive Investments Group plc (AIM: IIG), a closed-end life
sciences investment company which owns the entirety of Sanondaf, a
specialist disinfection and hygiene services business, has invested
a further GBP100,000 into existing portfolio company PneumoWave
Limited ("PneumoWave"), formerly known as Altair Medical. This
equity investment is a bridge, by way of advance subscription
agreement, to a Series A round of circa GBP7.5 million, which
PneumoWave is looking to close in October 2022. IIG has previously
invested GBP350,000 in PneumoWave, representing a 6.55 per cent.
interest in PneumoWave's issued share capital.
PneumoWave is developing a biosensor and real time analysis
platform that provides fully automated data capture, analysis,
notification and response management for serious respiratory events
that require rapid response. Its focus initially is on opioid
induced respiratory depression, now the leading cause of accidental
death in most developed countries and which claimed the lives of
approximately 80,000 in the US and UK in 2021 alone.
The technology is being developed by clinicians to ensure
maximum uptake across the diverse range of patient groups affected
by inadvertent overdose, in hospitals and at home, from both
therapeutic and illicit opioids. PneumoWave deploys proprietary
algorithms and artificial intelligence on the clinical datasets to
identify digital bio markers with predictive and preventive
potential.
In 2020, PneumoWave was awarded the Breakthrough Medical Device
designation from the U.S. Food and Drug Administration and is
targeting Class 2 clearance in the US via the De Novo pathway in
the first quarter of 2024. PneumoWave has also achieved Class 1 UK
Conformity Assessed clearance.
PneumoWave has three opioid-focused clinical trials underway,
having identified digital biomarkers for opioid overdose, it is
aiming to prevent deaths in clinical trials in the first half of
2023. A further seven clinical trials are in process or due to
start before the end of 2022.
Additional information relating to PneumoWave can be found at:
https://pneumowave.com/
Stewart White, Chairman of IIG's Advisory Panel, is a
Non-executive Director of PneumoWave.
For further information, please contact:
Intuitive Investments Group plc www.iigplc.com
Julian Baines, Non-Executive Chairman Via Walbrook PR
Robert Naylor, CEO
SP Angel Corporate Finance LLP -
Nominated Adviser +44 (0) 20 3470 0470
Jeff Keating / David Hignell / Kasia
Brzozowska
Turner Pope Investments (TPI) Ltd
- Broker +44 (0) 20 3657 0050
Andrew Thacker / James Pope
Walbrook PR Limited - Media & Investor +44 (0)20 7933 8780 or intuitive@walbrookpr.com
Relations
+44 (0) 7980 541 893 / +44 (0)
Paul McManus/ Sam Allen 7502 558 258
About Intuitive Investments Group plc
The Company is an investment 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 of
the Investment Committee, David Evans, to seek to generate capital
growth over the long term for shareholders.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCBKQBDABKDFFK
(END) Dow Jones Newswires
August 05, 2022 02:00 ET (06:00 GMT)
Intuitive Investments (LSE:IIG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Intuitive Investments (LSE:IIG)
Historical Stock Chart
From Jul 2023 to Jul 2024