Investment in PneumoWave Limited

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/

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 Robert Naylor, CEO	Via Walbrook PR
SP Angel Corporate Finance LLP - Nominated Adviser	[phone]
Jeff Keating / David Hignell / Kasia Brzozowska
Turner Pope Investments (TPI) Ltd - Broker	[phone]
Andrew Thacker / James Pope
Walbrook PR Limited - Media & Investor Relations	[phone] or [e-mail]
Paul McManus/ Sam Allen	[phone] / [phone]

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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