Intuitive Investments Group plc Investment in Momentum Bioscience Limited (7737L)
15 Septiembre 2021 - 12:59AM
UK Regulatory
TIDMIIG
RNS Number : 7737L
Intuitive Investments Group plc
15 September 2021
Intuitive Investments Group plc
Investment in Momentum Bioscience Limited
Intuitive Investments Group plc (AIM: IIG) ("IIG" or the
"Company"), a closed-end investment company focussed on the life
sciences sector, is pleased to announce an investment of GBP125,000
to acquire 25,000 new A preferred shares in Momentum Bioscience
Limited ("Momentum") (the "Investment") as part of a GBP3.89
million fundraising round ("Fundraising"). The Investment provides
IIG with a 2.4 per cent. interest in Momentum's share capital as
enlarged by the Fundraising.
Momentum is developing a revolutionary rapid diagnostic test for
patients suspected of sepsis, an infection of the blood stream
resulting in symptoms including a drop in a blood pressure,
increase in heart rate and fever. Last year, the World Health
Organisation ("WHO") reported that there were 49 million deaths
from sepsis globally and 11 million avoidable deaths. The current
standard of care typically takes 1-5 days to detect viable bacteria
or fungi (organisms) in blood, relying on downstream workflows to
provide an identification of the organism thereafter.
Momentum's SepsiSTAT(R) system enables reporting of the presence
or absence and 'pan gram identification' of viable organisms in
just two hours, helping direct the right antimicrobials. The system
also provides a pure concentrate of growing organisms for further
analysis.
Faster testing in suspected sepsis patients can reduce
mortality, accelerate hospital discharge, lower hospital costs and
reduce pressure on antimicrobial resistance. SepsiSTAT(R) is a
diagnostic test that runs from a sample of whole blood before any
culturing steps are taken and is currently being studied in
clinical practice with highly encouraging early results indicating
competitive sensitivity versus the current standard of care. Over
120 million blood tests for sepsis are run annually representing a
market potential of over GBP1.0 billion.
Further information can be found on Momentum's website:
www.momentumbio.co.uk.
Momentum, per the company's unaudited management accounts for
the eight months to 30 June 2021, had no revenues and a loss after
tax of GBP1,391,769 and, as at 30 June 2021, had net liabilities of
GBP59,112.
David Evans, Executive Chairman of the Company, personally
invested in Momentum in 2008 and will invest GBP125,000 to acquire
25,000 new A preferred shares in Momentum in the Fundraising. David
Evans' resulting position represents a 2.5 per cent. interest in
Momentum's share capital as enlarged by the Fundraising.
Accordingly, David Evans did not vote as a member of the Board
approving the Investment.
For further information, please contact:
Intuitive Investments Group plc www.iigplc.com
David Evans, Executive Chairman Via Walbrook PR
Robert Naylor, CEO
Strand Hanson Limited - Nominated
Adviser +44 (0) 20 7409 3494
James Dance / James Bellman
Turner Pope Investments (TPI)
Ltd - Broker +44 (0) 20 3657 0050
Andrew Thacker / James Pope
Walbrook PR Limited - Media & +44 (0)20 7933 8780 or intuitive@walbrookpr.com
Investor Relations
+44 (0)7502 558 258 / +44 (0)
Sam Allen / Paul McManus 7980 541 893
About Intuitive Investments Group plc
The Company is a recently 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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