Tern shares surge as it ups stakes in AI health services company Talking Medicines

Tern PLC (AIM:TERN) shares surged some 30% higher, to 1.18p, after it increased exposure to Talking Medicines - an AI company aiming to help healthcare advertising agencies analyse conversational data for pharmaceutical clients - through around £270,000 of new unsecured convertible loan notes, using a structure that gives the AIM-listed investor roughly twice the principal exposure of its fresh cash and cancelled debt contribution. The investment company, which backs early-stage Internet of Things technology businesses, said the CLNs were issued after it agreed to cancel around £87,000 owed by Talking Medicines and put in a further £48,000 of new funds.