7th May 2008 07:01
IP Group PLC07 May 2008 PRESS RELEASE 07 MAY 2008 Company behind removable chewing gum technology, Revolymer, raises £10m IP Group plc (LSE: IPO) ("IP Group" or the "Company" or "Group"), the UK'sleading university intellectual property commercialisation company, is delightedto note that Revolymer Limited ("Revolymer"), a spin-out company from theUniversity of Bristol, has successfully completed a £10 million financing round. Founded in 2005 and based in Mostyn, Wales, Revolymer is a specialised FMCGpolymer company focused on technology to allow the development of new consumerproducts with enhanced physical properties. The new polymers that Revolymerdevelops are manufactured from existing polymers allowing a fast track productintroduction. Revolymer is best known for its 'removable chewing gum', having developed apolymer technology which has the potential to prevent gum from sticking topavements and other surfaces, a problem which costs UK local governmentsmillions of pounds annually in clean-up charges. Revolymer's technology also haspotential applications in markets including medicated gums, personal careproducts and paints and coatings. Following completion of the financing round, IP Group has an 11.2% beneficialstake in Revolymer, valued at £3.0 million. Funds managed by Top TechnologyVentures Limited, a subsidiary of IP Group plc, have invested £0.8 million inthe financing. The remaining £9.2 million was raised from institutional andprivate investors. The fundraising will result in a total fair value gain to IP Group of £2.3million. For further information, please contact: IP Group plc 0845 0742929Alan Aubrey, Chief Executive OfficerLiz Vaughan-Adams (Communications) 020 7444 0062/07979853802 Financial DynamicsBen Atwell, Rob Bailhache, John Dineen 020 7831 3113 Revolymer LtdRoger Pettman, Chief Executive Officer 01745 562301 Publicis ConsultantsLiam Clark 020 7462 7758Carrie-Anne Savage 020 7462 7625 University of BristolCaroline Clancy, press officer 0117 928 7777 Notes for Editors About IP Group IP Group 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. IP Group has formed long-term partnerships with ten 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), the University ofBath and the University of Glasgow. The Company's portfolio is diverse with exposure to five main sectors - Energy &Renewables, Healthcare & Life Sciences: Non-therapeutics, Healthcare & LifeSciences: Therapeutics, IT & Communications and Chemicals & Materials. To date,ten portfolio companies have listed on the AIM market of the London StockExchange, one on PLUS Markets and there have been two trade sales. IP Group alsoestablished three 'Modern-themed' subsidiaries - Modern Biosciences, ModernWater and Modern Waste. Modern Water was the first of these subsidiaries tofloat on AIM in June 2007. For more information, please visit our website at www.ipgroupplc.com. About Revolymer RevolymerTM Ltd is a specialised FMCG polymer company which focuses ondeveloping intelligent polymers with enhanced physical properties. Polymers are used in everyday synthetic items including fabric, rubber andplastic. A polymer is a substance which is made up of a chain of molecules. Revolymer was established as a spin-out company in October 2005 after scientistsat the University of Bristol set out to provide a solution to products that hada secondary detrimental affect such as chewing gum removability. It was discovered that the use of a polymer can be changed and applied toexisting products to create commercial opportunities. www.revolymer.com About the University of Bristol The University was founded in 1876 as University College, Bristol. It was thefirst higher education institution in England to admit women on an equal basisto men. The University of Bristol is internationally distinguished and one ofthe very best universities in the UK dedicated to learning, discovery andenterprise. It is a world leader in research and a member of the WorldwideUniversities Network and of the Russell Group of universities. The University has around 12,500 undergraduate and 3,500 postgraduate students.The University organises its academic affairs in some 45 departments and 15research centres which are arranged in six faculties. In the 2001 Research Assessment Exercise (RAE), 15 of the University's units ofassessment achieved the top grade of 5* and a further 21 were awarded grade 5.Thus 36 (78 per cent) of the 46 units of assessment were judged as world classor of international standing. Seventy-six per cent of the academic staff workin departments ranked at these levels. www.bristol.ac.uk ENDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ip Group