14th Aug 2008 16:35
14 August 2008 Imperial Innovations Group plc ("Imperial Innovations" or the "Company") Imperial Innovations establishes FSA authorised subsidiary
Imperial Innovations Group plc (AIM: IVO), a leading technology transfer and commercialisation company, is pleased to announce the formation of a wholly owned subsidiary, Imperial Innovations Investment Management Limited ("IIIM"), authorised by the FSA.
With its experienced investment team, Imperial Innovations is increasingly choosing to lead or co-lead investment rounds as the portfolio companies develop and raise capital from third party investors. This change not only introduces best industry practice, but enables the Company, where appropriate, to capture additional value through corporate finance fees.
Following Imperial Innovations' successful ‚£30million placing in November 2007 the Company is well funded and will continue to make seed and later stage investments primarily from its own balance sheet. Although the establishment of IIIM does not signal a shift towards managing third party funds, the Company may now choose to do so selectively where it is beneficial.
Non-regulated activities including the licensing of technology, the formation of spin out companies, the provision of proof of concept and pre-seed funding, incubation services, business planning and recruitment, will continue as before from our main operating subsidiary, Imperial Innovations Limited.
Susan Searle, Chief Executive, Imperial Innovations, says
"FSA authorisation is a further step towards our goal of developing a fully integrated business model, in which we nurture early stage technology, create new ventures, build great management teams and invest in proven technology. IIIM is a way of maximising the benefit to Imperial Innovations of the numerous funding rounds we engage in. We intend to continue to build on our relationships with quality venture capital and other private equity investors - building strong syndicates for our established portfolio companies."
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For more information contact:
Imperial Innovations
Susan Searle (Chief Executive Officer) +44 (0)20 7594 6591
Lucy Ahfong (Marketing and Communications Executive) +44 (0)20 7594 6644
JPMorgan Cazenove
(Nominated Adviser)
Steve Baldwin +44 (0)20 7588 2828
M:Communications
Ben Simons/Harriet Totty +44 (0)20 7153 1530
About Imperial Innovations
Imperial Innovations is one of the UK's leading technology transfer and commercialisation companies. The company was founded in 1986 and its ordinary shares admitted to trading on the AIM Market of London Stock Exchange plc in July 2006, raising ‚£25 million at an offer price of 365p and ‚£1 million by means of a public offer. In November 2007, the company raised a further ‚£30 million by means of a placing of new ordinary shares with investors.
The company's integrated approach encompasses the identification of ideas, protection of intellectual property, development and licensing of technology and formation, incubation and investment in technology businesses. A wide range of technologies are commercialised within the areas of Healthcare, Energy & Environment, Engineering and Software & IT.
As at the close of its last financial year in July 2007, the company - based at Imperial College London - had established equity holdings in 74 technology businesses and was managing 133 commercial agreements. Imperial Innovations also commercialises technologies originating from outside Imperial College through incubation contracts with the Carbon Trust and WRAP and has commercialisation contracts with a number of multinational corporations.
www.imperialinnovations.co.uk
vendorRelated Shares:
Imperial Innovations Group