Investment in Polarean Imaging plc

RNS Number : 4857S

Intuitive Investments Group plc

17 March 2021

 

17 March 2021

Intuitive Investments Group plc

Investment in  Polarean Imaging plc

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 £250,000 to acquire 416,666 ordinary shares of Polarean Imaging plc (AIM: POLX) ("Polarean") at a price of 60 pence per share (the "Investment"). The Investment is part of Polarean's fundraising as announced by Polarean on 15 March 2021 (the "Fundraising"). The Investment is conditional upon, amongst other things, each of the resolutions being passed at Polarean's forthcoming general meeting on 6 April 2021.

Polarean and its wholly owned subsidiary, Polarean, Inc. (together the "Group") are revenue generating, medical drug-device combination companies operating in the high-resolution medical imaging market.   The Group develops equipment that enables existing MRI systems to achieve an improved level of pulmonary function imaging and specialises in the use of hyperpolarised Xenon gas ( ¹²⁹ Xe) as an imaging agent to visualise ventilation and gas exchange regionally in the smallest airways of the lungs, the tissue barrier between the lung and the bloodstream and in the pulmonary vasculature. Xenon gas exhibits solubility and signal properties that enable it to be imaged within other tissues and organs.

Robert Naylor has personally invested £125,000 as part of the Fundraising. Accordingly, Robert Naylor did not vote as a member of the Board IIG approving the Investment.  

For further information, please contact:

Intuitive Investments Group plc	www.iigplc.com
David Evans Robert Naylor	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]
Paul McManus/Sam Allen	[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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