REG - Intuitive Invests.Gp - Investment in PneumoWave Limited

Intuitive InvestmentsAnnouncement

05/08/2022 07:00

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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 £100,000
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 £7.5 million, which
PneumoWave is looking to close in October 2022. IIG has previously invested
£350,000 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/ (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 (http://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 Relations      +44 (0)20 7933 8780 or intuitive@walbrookpr.com
 Paul McManus/ Sam Allen                               +44 (0) 7980 541 893 / +44 (0) 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.

 

 

 

 

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