15th Jun 2005 07:00
IP2IPO Group PLC15 June 2005 For immediate release 15 June 2005 IP2IPO GROUP PLC ("IP2IPO" or "the Company") Oxford RF Sensors receives funding from IP2IPO IP2IPO Group plc (AIM: IPO) ("IP2IPO") is pleased to announce that it hasinvested £470,000 in return for a 35.9% equity interest in Oxford RF SensorsLimited ("ORFS"), a spin-out company from the Physics Department at theUniversity of Oxford. ORFS has developed novel, highly sensitive, non-contact sensors which can detectand measure a variety of materials including metals, plastics, gases andliquids. The sensors operate across a wide temperature and frequency range andare highly resilient to dirt, dust and oil contamination. The technology hasalready been delivered to an initial customer's specifications and incorporatedinto a product for monitoring turbochargers. ORFS's underlying science and patented intellectual property has been developedover many years by Dr John Gregg, a fellow of Magdalen College, Oxford. DrGregg researches the novel physical properties of nano-scale magnetic systemsand is a world expert on spin electronics. The formation of ORFS was assisted by Isis Innovation, the technology transfercompany of the University of Oxford, which has licensed key intellectualproperty to the company. Commenting on today's announcement, Dave Norwood, IP2IPO's Chief Executive,said: "Oxford RF Sensors represents an incredibly exciting business opportunity.It is also the first spin-out from the Oxford Physics Department in whichIP2IPO has invested and so marks another very positive development in IP2IPO'srelationship with the University of Oxford and Isis Innovation." Ross Walker, Chief Executive of ORFS, said: "Our highly sensitive and robustsensors are already attracting a great deal of industry interest. We haveinitial customers on board and are in the advanced stages of signing up more.This round of funding will enable us to increase our engineering resource tomeet their demands and to rapidly expand our business." For more information please contact: IP2IPODavid Norwood, Chief Executive Officer 020 7489 5200 Oxford RF SensorsRoss Walker, Chief Executive Officer 0780 1371633 Buchanan CommunicationsMark Court, Mary-Jane Johnson 020 7466 5000 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. To date, 4 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 and Proximagen Neuroscience plc. For more information please visit www.ip2ipo.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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