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.
We spoke with Rob Naylor, incoming CEO (appointment effective from 19 February 2021) to explain a bit more about the company.
Rob has 24 years’ experience in capital markets. Rob was most recently at Cenkos Securities plc as head of corporate finance and corporate broking in the investment funds team. Prior to this Rob has held roles as co-head of the investment funds team at Panmure Gordon (UK) Limited and executive director, head of product development in the investment trust team at JPMorgan Asset Management Limited.
AIM Admission & First Day of Dealings, 14 December 2020
Key highlights
– £7.85 million raised (before expenses) by the conditional placing of 39,250,000 new Ordinary Shares
– The net proceeds of the Placing will be used by the Company:
– to invest in fast growing and / or high potential Life Sciences businesses, based predominantly in the UK, wider Europe and the US, chosen from an identified pipeline of investment opportunities
– investments will be focused on diagnostics and healthcare, medical devices, tools and technologies and bio-therapeutics and pharmaceuticals
– The market capitalisation of the Company is expected to be £8.08 million on Admission
– The Company’s ISIN is GB00BNGFMW59, its SEDOL is BNGFMW5 and its LEI is 2138004A32UIY92WWR66
About Intuitive Investments Group plc
The Board and the Investment Team
The Directors believe that the Board and the Investment Team have vast experience in working within, investing in, and providing meaningful exits for, early stage life science companies. This collective experience covers hands-on board-level management, finance, commercialisation, research and development and operations, in addition to corporate finance activities across numerous investment rounds requiring managing every type of investment in both private companies and public markets. The Investment Team is comprised of the Chairman, the CEO and the Chairman of the Advisory Panel.
David Evans, Executive Chairman
David Evans has over 27 years of experience in the Life Science sector, both in private companies and as a senior director of a number of public companies. David has facilitated 12 companies’ transition to being publicly traded (directly or indirectly), has overseen four successful exits and has extensive experience chairing numerous UK public companies’ boards. He has been actively engaged in a number of M&A transactions and has a record of high returns from personal investments in the Life Science sector.
Robert Naylor, Proposed CEO (appointment effective from 19 February 2021)
Robert Naylor has 24 years’ experience in capital markets; most recently at Cenkos Securities plc as head of corporate finance and corporate broking in the investment funds team. Robert has advised a number of Life Science companies.
Malcolm Gillies, Non-Executive Director
Malcolm Gillies is a lawyer by background, having worked as a senior corporate partner for over 10 years. He has since taken numerous director roles with Life Science focussed public companies.
Cormac Kilty, Non-Executive Director
Cormac Kilty has founded a number of Life Science and Diagnostics companies and has acted as a director of many Life Science companies.
Colin Willis, Non-Executive Director
Colin Willis specialises in venture capital, with over 24 years of experience in the field. He has set up three venture capital companies providing substantial returns to investors.
Advisory Panel
The Company has established an Advisory Panel with a wealth of knowledge and experience in the Life Science and Diagnostics sectors to support the Board’s identification, assessment and appraisal of potential investment opportunities and to provide general guidance to the Board where required. The Company’s Advisory Panel comprises:
Dr. Stewart White, (Advisory Panel Chair) has acted as Chairman and CEO of numerous Life Science companies. Stewart is a visiting professor at the University of Glasgow and has a PhD in Bioprocessing.
Julian Baines is CEO of EKF Diagnostics Holdings plc (AIM:EKF) and holds an MBE for services in the Life Science sector.
Ron Long has held a number of positions as CEO and Chairman of Life Science companies and several start-up businesses.
Per Matsson has experience in senior positions in various Life Science R&D departments. He is also an associate professor in Veterinary Science and holds a PhD in biology.
Alastair Smith, CEO of Avacta Group plc (AIM:AVCT), was previously a professor of Molecular Biophysics and has a PhD in Physics.
The Directors believe the Board and Advisory Panel have the requisite skills to determine viable and investable Life Science companies that have the chance to grow and, ultimately, create value by improving human health.
Investing Strategy
– The Company has a multi-dimensional investment strategy to capitalise on significant opportunities in growth (Series A and B), special situations and public companies, with a focus on early and late stage venture capital.
– IIG expects to be able to beneÞt from access to the Board’s identiÞed pipeline of over 16 potential investment opportunities. It is also envisaged that, due to the demand that currently exists for post-seed venture capital in the European and US Life Sciences market, the potential pipeline available to the Company will continue to increase.
– The Company’s portfolio is expected to comprise approximately 10-12 holdings, with no single investment representing more than 15% of the Company’s NAV.
– IIG has a low-cost model. The Company will be internally managed, with no material remuneration to the Chairman other than a performance related incentive fee.
David Evans, Executive Chairman of IIG, commented:
” We are very pleased to be joining the AIM market today. With our combined experience and demonstrative track record in the sector, we will look to the future and invest in fast growing and / or high potential life sciences businesses, based predominantly in the UK, wider Europe and the US, chosen from an identified pipeline of investment opportunities .
“We will seek investments focused on diagnostics and healthcare, medical devices, tools and technologies and bio-therapeutics and pharmaceuticals. IIG’s proposition is based on my belief that through the skillful deployment of capital, we can advance the growth of companies with greater certainty than otherwise might be the case and provide a superior return to other alternative investment opportunities for investors.”
