10th Oct 2005 12:53
IP2IPO Group PLC10 October 2005 For immediate release 10 October 2005 IP2IPO GROUP PLC PROPOSED ACQUISITION OF TOUMAZ TECHNOLOGY LIMITED BY NANOSCIENCE INC IP2IPO Group plc (AIM: IPO) ("IP2IPO"), the intellectual propertycommercialisation company, is pleased to note that Nanoscience Inc (AIM: NAN)has announced that it has today conditionally agreed to acquire the entireissued share capital of Toumaz Technology Limited ("Toumaz"), one of IP2IPO'sportfolio companies. Toumaz is also proposing to carry out a Placing to raise£7.1 million before expenses which is due to complete immediately prior to theacquisition of Toumaz Toumaz develops ultra low power integrated circuits and silicon chips for use inwireless and signal processing applications. Nanoscience is a specialistnanotechnology investment company which floated on AIM in March 2005. The proposed acquisition, which is conditional upon the approval of Nanoscienceshareholders, values Toumaz at approximately £17.7 million based on the averagemiddle market price of shares in Nanoscience on the five business days prior tothe announcement. The consideration will be in shares in Nanoscience. IP2IPO hasa 5.3% shareholding in Toumaz and will have a 2.8% shareholding in the enlargedNanoscience share capital on completion of the acquisition which is due to occuron 3rd November 2005. For more information please contact: IP2IPO 020 7489 5200David Norwood, Chief Executive Officer Buchanan Communications 020 7466 5000Tim Anderson, Mark Court Notes for editors IP2IPO is an intellectual property (IP) company that specialises incommercialising university technology. The Company was founded in 2001 andlisted on the AIM Market of the London Stock Exchange plc in October 2003.IP2IPO's first partnership was with the University of Oxford. In return for aninvestment of £20 million, IP2IPO has acquired 50 per cent of the University ofOxford's equity in spin-out companies and technology licenses based onintellectual property created at the Chemistry Department until 2015. InNovember 2003, IP2IPO created a £5 million seed capital fund for investing inspin-out companies across the University of Oxford, not just those originatingwithin the Chemistry Department. In March 2002, IP2IPO entered into a second long-term partnership with theUniversity of Southampton. Under the terms of this partnership, IP2IPO iscommitted to working with the University of Southampton in the identificationand facilitation of spin-out companies from across the University of Southamptonand to investing £5 million in early-stage University of Southampton spin-outcompanies over a four year period in return for equity stakes in thosecompanies. In addition, IP2IPO also received a 20 per cent stake in SouthamptonAsset Management Limited, a company that has been formed to hold theUniversity's equity stakes in its spin-out companies. The partnership has a termof at least 25 years. IP2IPO entered into its third long-term partnership in May 2003 with King'sCollege London. IP2IPO will work with King's College London to help identify andprogress commercialisation opportunities as well as invest £5 million in seedcapital in spin-out companies from King's College London over a five year periodin return for equity stakes in those companies. In addition, IP2IPO will receive20 per cent of King's College London's equity in spin-out companies andtechnology licenses. The partnership has a term of 25 years. In October 2003, IP2IPO announced a fourth partnership with the Centre for NovelAgricultural Products ("CNAP"), based at the University of York. CNAP is aflagship research centre that specialises in plant and microbial gene discovery.Under the terms of the partnership a new company, Amaethon Limited, has beencreated which has the right to commercialise CNAP's IP for 25 years. IP2IPO hasinvested £1.15m in Amaethon Limited in return for a 40% equity stake in AmaethonLimited (the remaining equity being owned by the University of York) and willalso invest in the spin-out companies based on CNAP's IP which Amaethon Limitedcreates. In June 2004, IP2IPO acquired Top Technology Ventures Limited, an investmentadviser to early stage technology funds. This combines IP2IPO's expertise in thecreation of new ventures based on world leading university IP with TopTechnology's focus on making early stage venture capital investments. In January 2005, IP2IPO acquired Techtran, a company set up in 2002 tocommercialise university intellectual property under a long-term technologycommercialisation contract with the University of Leeds. Under the terms of thecontract Techtran receives a significant (30%) interest in spin-out companiescreated and technology licences negotiated, in return for the provision oftechnology transfer services to the University. In May 2005, IP2IPO announced the launch of LifeUK, a new subsidiary company.LifeUK, which has since been renamed Modern Biosciences, will in-license lifescience intellectual property created by medical researchers at universitieswith which IP2IPO already has partnerships, other universities in the UK andsimilar academic and charitable research institutions. Modern Biosciences'objective is to further develop the intellectual property which it in-licenseswith a view to creating substantial value either by subsequently licensing thesedevelopment programmes to the pharmaceutical industry or via the creation of newventures. To date, 5 spin-out companies from the IP2IPO portfolio have listed on the AIMMarket of the London Stock Exchange plc: Offshore Hydrocarbon Mapping plc,Synairgen plc, VASTox plc, Proximagen Neuroscience plc and GETECH Group plc. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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