Investment in Altair

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	[phone]
James Harris / James Dance / James Bellman
Turner Pope Investments (TPI) Ltd - Broker	[phone]
Andrew Thacker / Zoe Alexander
Walbrook PR Limited - Media & Investor Relations	[phone] or [e-mail]
Sam Allen / Paul McManus	[phone] / [phone]

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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