ASX listed medical device company Analytica has attracted further interest from Virgin Islands based biotech investment fund “INOV8 LLC” who will stump up $500k at .007c a share to take their second placement in the company this year.
With the stock trading at between .008c and .009c a share, INOV8 have tripled their previous $500k plunge at Analytica back in March when they successfully picked the bottom of the company’s share price graph by taking a placement at .00255c a share on that occasion.
The new $500k placement will be done in two tranches with the first 35,714,285 shares issued on August 31st and the second lot of 35,714,286 shares issued on September 30th.
The latest investment by INOV8 takes their holding in Analytica to 12.2%.
The company is also well supported by its Chairman Michael Monsour who also ploughed a million dollars of his own money into it back in March at .003c a share.
Mr Monsour said ““INOV8 LLC increasing their investment expresses confidence in the potential of the PeriCoach system and our strategic development program”
“This investment, building INOV8's holding to 12.2%, together with the strong support from major shareholder placements earlier this year adds to the stability
of Analytica’s capital base.”
Analytica’s “PeriCoach” medical device monitors a woman’s pelvic floor muscles whilst they are being exercised for the purposes of reducing and eventually stopping incontinence.
The PeriCoach sends a wireless signal to a smart phone for the purposes of confirming that pelvic floor muscles are being correctly exercised in accordance with medical instructions.
According to the company 1 in 3 women worldwide suffer from incontinence and many fail to perform pelvic floor remedial exercises correctly.
By Matt Birney
