12th Oct 2006 07:01
IP Group PLC12 October 2006 For immediate release 12 October 2006 IP Group plc ("IP Group" or the "Company") IP GROUP SIGNS TENTH PARTNERSHIP WITH THE UNIVERSITY OF GLASGOW IP Group plc (LSE: IPO), the intellectual property commercialisation company, isdelighted to announce that it has entered into its tenth long-term partnershipwith the University of Glasgow ("Glasgow"). Glasgow is one of the UK's oldest universities and has one of the largestresearch bases. New research grants and contracts exceeded £100 million in 2005/6 and Glasgow has over 3,400 researchers across nine faculties. The most recent independent survey of research quality, the Research AssessmentExercise of 2001, reported that 96% of the University's research staff wereworking in subject areas producing research of international quality.Twenty-three subject areas received the highest research quality rating of '5'while a further 20 subject areas received the research quality rating of '4'.Glasgow also has one of Europe's largest grouping of life scientists working inthe Institute of Biomedical & Life Sciences and has one of the largest medicalschools in Europe. Under the terms of the partnership announced today, IP Group has agreed to workwith Glasgow to identify and facilitate the formation of spin-out companies andto make available an initial fund of up to £5 million in such companies inreturn for equity stakes in them. In addition, IP Group will receive 12% of theequity in spin-out companies from Glasgow at the time that the company isestablished prior to investment. The partnership has a term of 25 years. Alan Aubrey, Chief Executive of IP Group, said: "Today's partnership agreementwith Glasgow is particularly significant for IP Group as the university is ourfirst partner in Scotland and brings our total number of partners in the UK toten. It is also the fourth new partnership agreement that IP Group has signedthis year, following similar collaborations with Queen Mary, University ofLondon, the University of Surrey and the University of Bath together with theextension of our partnership with the University of York to cover the entireuniversity. In entering into this partnership with Glasgow, IP Group has reacheda further major milestone in its development. Glasgow has an excellentreputation with a number of exciting commercialisation opportunities and we arevery much looking forward to working with the team there and to completing ourfirst investment in the near future." Steve Beaumont, Vice Principal (Research and Enterprise) at Glasgow University,said: "We are delighted to have signed this agreement with IP Group which willgreatly benefit the University. This long-term partnership will make the processfor spinning-out companies quicker, simpler and better funded than we would havebeen able to deliver alone. The advantages of the partnership mean we will havefast access to seed funds, rapid commercial evaluation and decision-making onspin-out opportunities, increased post-incorporation support and access to IPGroup's network of follow-on investors. Glasgow has one of the largest researchbases in the UK and this deal with enable the university to maximise thecommercialisation of its research and alternative routes to market. I believe itwill also provide better outcomes for the academic staff involved with theformation of spin-outs." For further information, please contact: IP Group plc 020 7489 5200Alan Aubrey, Chief Executive Officer Liz Vaughan-Adams (communications) 020 7489 5206/07979853802 Buchanan Communications 020 7466 5000Mark Court, Tim Anderson, Mary-Jane Johnson University of GlasgowProfessor Steven Beaumont, Vice Principal, Research and Enterprise0141 330 2112 Martin Shannon, Media Relations Officer0141 330 8593 Notes for Editors About IP Group IP Group Plc is an intellectual property (IP) commercialisation company thatspecialises in commercialising university technology. Founded in 2001, IP Grouplisted on AiM in October 2003 and moved to the Official List in June 2006. Ithas made two acquisitions to date - Techtran, a company set up to commercialiseuniversity intellectual property under a long term contract with the Universityof Leeds, in 2005 and Top Technology Ventures, an investment adviser to earlystage technology venture capital funds, in 2004. The group has formed long-term partnerships with nine universities - theUniversity of Oxford, King's College London, CNAP/University of York, theUniversity of Leeds, the University of Bristol, the University of Surrey, theUniversity of Southampton, Queen Mary, University of London and the Universityof Bath. As at 30 June 2006, 44 spin-out companies had been created among the group'suniversity partners. Of those, eight have listed on the AiM market of the LondonStock Exchange and there have been two trade sales. For more information, please visit our website at www.ipgroupplc.com About the University of Glasgow Founded in 1451, the University of Glasgow is one of the UK's leadinguniversities with an international reputation for its research and teaching andan important role in the cultural and commercial life of the country. With almost 16,000 undergraduate and 4,000 postgraduate students, it is one ofthe country's largest universities. Employing 5,700 staff, it is a majoremployer in the city and, with an annual turnover of £285M, it makes asubstantial contribution to the local economy. The University's world-classresearch base includes pioneering work in the fields of medicine, engineering,ethics, physics, and astronomy. The University is also leading the way inultramodern disciplines like bioelectronics, cell signalling, nanotechnology,and optoelectronics. For more information, please visit our website at www.glasgow.ac.uk ENDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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