REG - Intuitive Invests.Gp - Investment in Altair

Intuitive InvestmentsAnnouncement

31/03/2021 16:20

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 £350,000 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 £2 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 care1.  
 
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 £110,800 and, as at 30 April 2020, had net liabilities of £171,843.
 
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
Robert Naylor, CEO


Via Walbrook PR




 


 




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 Relations


+44 (0)20 7933 8780 or intuitive@walbrookpr.com




Sam Allen / Paul McManus


+44 (0)7502 558 258 / +44 (0) 7980 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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