14th Feb 2006 07:01
IP2IPO Group PLC14 February 2006 For immediate release 14th February 2006 IP2IPO GROUP PLC Perpetuum secures £2.2 million in second round finance IP2IPO Group plc (AIM: IPO), the intellectual property company thatcommercialises university technology, is pleased to announce that PerpetuumLimited, a spin-out company from the University of Southampton in which IP2IPOholds an equity stake, has succeeded in raising £2.2m in second round finance.The round includes £1,425,000 from Quester, which led the financing, £650,000from Top Technology Ventures and £125,000 from SULIS. Perpetuum develops microgenerators that harvest energy, usually from vibrations.This kinetic energy is converted by Perpetuum's electro mechanical devices intousable electrical power to drive sensors, microprocessors and transmitters.Perpetuum has trials ongoing with a number of substantial industrial groups anda strong pipeline of opportunities. The financing round capitalises the company at £5.2 million. Post the completionof the financing, IP2IPO holds a 14.6% interest in Perpetuum. For more information please contact: IP2IPO 020 7489 5200Alan Aubrey, Chief Executive Officer Buchanan Communications 020 7466 5000Tim Anderson, Mark Court, Mary-Jane Johnson 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 works 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 receives 20per cent of King's College London's equity in spin-out companies and technologylicenses. 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. In December 2005, IP2IPO entered into its sixth long-term partnership with theUniversity of Bristol. IP2IPO will work with the University of Bristol to helpidentify and progress commercialisation opportunities as well as invest aninitial £5 million in seed capital in spin-out companies from the University ofBristol over a five year period in return for equity stakes in those companies.In addition, IP2IPO will receive 13.3% per cent of in spin-out companies at thetime that the company is established prior to investment. The partnership has aterm of 25 years. On 9th February 2006, IP2IPO entered into its seventh long-term partnership withthe University of Surrey. IP2IPO will work with the University of Surrey to helpidentify and progress commercialisation opportunities as well as invest aninitial fund of up to £5 million in seed capital in spin-out companies from theUniversity of Surrey in return for equity stakes in those companies. Inaddition, IP2IPO will receive 13.3% per cent of in spin-out companies at thetime that the company is established prior to investment. The partnership has aterm of 25 years. To date, 5 spin-out companies from the IP2IPO portfolio have listed on the AIMMarket of London Stock Exchange plc: Offshore Hydrocarbon Mapping plc, Synairgenplc, VASTox plc, Proximagen Neuroscience plc and GETECH Group plc. There hasbeen one trade sale: Toumaz Technology Limited was sold to Nanoscience Inc. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ip Group