Intuitive Investments Group PLC - closed-end investment company focused on life sciences sector - Invests USD1 million by way of unsecured convertible loan notes in medical device company BioQ Pharma Inc. Says loan notes pay 10% interest and will mature on November 1. Notes BioQ is its second investment from its pipeline of opportunities, and follows Intuitive Investments' successful initial public offering in December.
"We are hugely impressed by BioQ, and what Josh Kriesel and the BioQ team have built in the US and Europe. We strongly believe the adoption by the healthcare providers of BioQ's 'Pharmacy in a Box' which is also a connect-and-go delivery system will continue to accelerate in the near term. Our investment demonstrates Intuitive Investments' ability to act quickly and opportunistically when compelling opportunities arise," says Chair David Evans.
Current stock price: 22.50 pence, intraday high of 26.40p on Thursday
Year-to-date change: up 1.1%
By Zoe Wickens; zoewickens@alliancenews.com
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Intuitive Inv (IIG)