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Consegna Group moves towards BreatheAssist™ commercialisation with acquisition

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Consegna Group (ASX: CGP) is advancing towards the completion of the acquisition of the remaining 19% of Leading Edge Instruments (LEI) as licensing opportunities for the company’s BreatheAssist™ technology progress.

The company has exercised the first of two call options to acquire the remaining stake, netting it 9.5%.

Consegna plans to exercise the second call option tomorrow to secure the final 9.5%.

Fabio Pannuti, managing director, commented on the news:

“As I have said before, although there are several applications for BreatheAssist™, we have been working on our most immediate path to cash flow with the Sports model.

“Completing the acquisition of LEI is a necessary step to allow the fullness of those opportunities to be assessed and acted upon.”

To take Consegna to 100% ownership of Leading Edge Instruments, the company will issue 252 million shares, which were last trading at A$0.032, valuing the transaction at around just over $8 million. 


BreatheAssist™


BreatheAssist™ is a multi-functional nasal dilation technology that enhanced nasal airflow by 37% in a clinical study.

Consegna is on the road to commercialisation of the technology, with resources committed to the sports market ahead of the London Olympic Games in July this year.

Production for the first commercial scale release of BreatheAssist™ to the sports market is in its final stages.

Consumer trials are underway in Australia and the United States to identify adoption issues and provide objective evidence of the product’s value for athletes and consumers.

Importantly, there are multiple licensing opportunities for BreatheAssist™, including sport, medication delivery, snoring cessation, aiding sleep apnoea and the filtration of pollen and other airborne pollutants.

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