19th Jun 2015 07:36
LONDON (Alliance News) - IP Group PLC Friday said that portfolio company Oxford Sciences Innovation PLC has raised a further GBP110 million, with investors including Google Ventures and Carphone Warehouse founder Charles Dunstone.
The second close of Oxford Sciences Innovation's funding means the company has now raised GBP320 million.
IP Group previously had committed GBP40 million in an initial round, along with investors including Invesco Asset Management Ltd, Lansdowne Partners (UK) LLP, Oxford University Endowment Fund, the Wellcome Trust and Woodford Investment Management LLP.
IP Group, which works to commercialise research produced by universities, will have an 11.8% stake in Oxford Sciences Innovation following the funding round.
"IP Group is proud to be a cornerstone investor in OSI and we are delighted by the quality and range of investors who have participated in both financing rounds. The support that the partnership has received is excellent news for everyone involved and we are excited by OSI's future prospects," Chief Executive Alan Aubrey said in a statement.
Oxford Sciences Innovation was established to provide capital to, and develop, spin-out companies based on research from the University of Oxford's Mathematical, Physical and Life Sciences Division and its Medical Sciences Division.
IP Group shares were flat at 210.40 pence on Friday morning.
By Samuel Agini; [email protected]; @samuelagini
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