Investment in BioQ Pharma

Intuitive Investments Group plc

("IIG" or the "Company")

Investment in BioQ Pharma

Intuitive Investments Group plc (AIM:IIG), a closed-end investment company focussed on the life sciences sector, is pleased to announce its investment of US$1 million by way of unsecured convertible loan notes ("CLNs") in BioQ Pharma Incorporated ("BioQ").

BioQ is a well-established, commercial-stage, medical device and pharmaceutical company, addressing the infusible drugs market. BioQ's proprietary Invenious^TM platform comprises a "connect-and-go" drug-device system combination, which can be utilised to improve the delivery of infusible medicines.  BioQ's platform includes a bespoke unit-dose delivery solution for infusible drugs, whereby a diluent delivery system and administration line are combined in one self-contained, ready-to-use presentation. The key benefits of the platform include reduced cost and complexity compared to current infusion techniques. Further information on BioQ can be found at the company's website: www.bioqpharma.com.

IIG's investment in BioQ consists of US$1 million of CLNs maturing on 1 November 2021. The terms of the CLN include a coupon of 10% that is accrued and paid on conversion or repayment, warrant coverage, and provisions for conversion into new equity at the time of a qualifying future fundraise (at a 35 per cent. discount to the price of such fundraise) or at maturity.

BioQ is the Company's second investment from its pipeline of opportunities, and follows its successful IPO in December 2020.

David Evans personally invested US$75,000 in Bio Q's Series B funding round in 2009 which is less than an 0.5% interest in the company. Accordingly, David Evans did not vote as a member of the Board of IIG approving the transaction. 

In the nine months ended 30 September 2020, BioQ made a net loss of US$5.9million and, as at 30 September 2020, had net liabilities of approximately US$32 million.

David Evans, Chairman of IIG, said:

"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 IIG's ability to act quickly and opportunistically when compelling opportunities arise."

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The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

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.