1 April 2021
Intuitive Investments Group plc
Investment in Axol Bioscience Ltd
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 in Axol Bioscience Ltd ("Axol") (the "Investment"). Axol has reversed into Censo Biotechnologies Ltd ("Censo") by way of share for share exchange (the "Enlarged Group"). The Investment is part of a £3.6 million funding round to provide working capital for the Enlarged Group. IIG will hold 2.625% of the Enlarged Group's A ordinary shares, which have a participating preference ahead of the Enlarged Group's ordinary shares. On a fully diluted basis IIG will have an interest in 0.964% of the voting rights of the Enlarged Group.
Axol produces high quality human cell products, particularly in relation to pluripotent stem cell (hiPSC) and critical reagents such as media and growth supplements, which are sold to medical research and drug discovery organisations. Axol also provides contract research for example customising cell lines for customers, such as reprogramming and differentiation. Censo is a specialist contract research organisation with products, complementary to those produced by Axol, in complex cell biology, specialising in human neurodegenerative, neuroinflammatory and inflammatory disease models. The Chairman of Axol is Jonathan Milner, who is the company's co-founder and was previously deputy chairman of Abcam plc.
Axol, per the company's unaudited management accounts, achieved a loss after tax for the year ended 31 December 2020 of £399,718 on sales of £2,526,187 and, as at 31 December 2020, had net assets of £1,093,393.
For further information, please contact:
| Intuitive Investments Group plc | |
| David Evans, Executive Chairman Robert Naylor, CEO | Via Walbrook PR |
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| Strand Hanson Limited - Nominated Adviser | +44 (0) 20 7409 3494 |
| James Harris / James Dance / James Bellman
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| Turner Pope Investments (TPI) Ltd - Broker | +44 (0) 20 3657 0050 |
| Andrew Thacker / Zoe Alexander |
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| Walbrook PR Limited - Media & Investor Relations | +44 (0)20 7933 8780 or intuitive@walbrookpr.com |
| Sam Allen / Paul McManus | +44 (0)7502 558 258 / +44 (0) 7980 541 893 |
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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