17th Aug 2007 07:01
IP Group PLC17 August 2007 For Immediate Release 17 August 2007 IP Group makes investment in University of Glasgow spin-out company 'ReactivLab' IP Group plc (LSE: IPO) ("IP Group"), the intellectual propertycommercialisation company, is delighted to announce that it has invested£450,000 in its third University of Glasgow spin-out company called ReactivLabLimited ("ReactivLab" or "the Company") for a 33.2% stake. ReactivLab has been formed to commercialise new animal health diagnostictechnology developed in the University of Glasgow's Faculty of VeterinaryMedicine. The company will provide services and develop kits that can detectsub-clinical symptoms of inflammation, infection and disease in both companionand farm animals. These tests can allow pet owners or farmers to know if theiranimal is unwell before any visible symptoms appear, enabling early interventionwith the best treatment. ReactivLab is the third spin-out resulting from IP Group's partnership with theUniversity of Glasgow, which was announced in October 2006. The first twocompanies from the collaboration are XanIC Limited, which is commercialising anew semiconductor process technology, and Wireless bioDevices Limited, which wasestablished to commercialise wireless sensor technology for use in medicaldiagnostics. ReactivLab's new diagnostic approach exploits blood proteins known as acutephase proteins (APPs). APPs are a group of blood proteins that change inconcentration in animals subjected to challenges such as infection,inflammation, surgical trauma or stress. Quantification of their concentrationcan provide diagnostic and prognostic information. The University has identifiedspecific APPs (and combinations) that act as biomarkers to detect disease orpoor health before visible symptoms appear. Professor David Eckersall, scientific founder of ReactivLab, is a world-leadingresearcher in the area of acute phase proteins in animals and co-ordinates theEuropean Concerted Action Group on Acute Proteins in Animals. He has specialisedin this field for over 20 years and has presented the findings of his work atinternational scientific meetings throughout the world. He is a Professor ofVeterinary Biochemistry at the Faculty of Veterinary Medicine at the Universityof Glasgow and has been responsible for many of the major advances in monitoringthe APP response in domestic animals such as dogs, cats, cattle and pigs. He hasalso invented novel methods for analysis and discovered new applications for thediagnostic use of APPs showing the benefit of measuring the proteins in avariety of conditions including bovine mastitis and pneumonia, feline infectiousperitonitis and canine leukaemia. ReactivLab will exploit this research and provide services in diagnostic testingfor acute phase proteins. For example, blood samples from dogs and cats can beanalysed to assist in the very early diagnosis of diseases such as arthritis,cancer and various infectious diseases. Diagnostic kits are also planned to makethe approach available world-wide. APP testing will not only give the opportunity for vets to intervene withtreatments before a condition has advanced significantly; they will also provideanimal owners with a means to monitor animal health on a regular basis. The diagnostic test technology has already received Synergy Fund investment viaa £200,000 loan from the Fund to the University for pre-incorporationdevelopment which has now been converted into shares in ReactivLab. Synergy Fundis a Glasgow/Strathclyde university Fund managed by Scottish Equity Partners(SEP). ReactivLab has also recently received a Scottish Executive SMART Award. Alan Aubrey, Chief Executive of IP Group, said: "We are delighted with theprogress being made at Glasgow. ReactivLab is the first spin-out we havecompleted in the exciting and growth area of animal health but is the thirdspin-out from Glasgow University within the first year of the IP Grouppartnership." Prof Steve Beaumont, VP Research & Enterprise, commented: "The University isvery pleased that research carried out in our internationally renowned Facultyof Veterinary Medicine has led to a spinout that will assist in the diagnosis ofdiseases in animals. This substantial investment from IP Group in addition toearlier support from the Synergy Fund recognises the confidence we have in thefuture success of the business. As we expected, our collaboration with IP Grouphas accelerated our spin-out process and we are delighted to announce theformation of a third company so soon after our partnership was launched." Prof David Eckersall, Director, ReactivLab, said: "Establishing ReactivLab willallow the acute phase protein tests to become widely available so that insteadof being restricted to our research programmes, their full benefit in being ableto detect even sub clinical disease in dogs and cats will be available to thepet owning community at large." For more information please contact: IP Group plc 020 7444 0050Alan Aubrey, Chief Executive Officer Liz Vaughan-Adams (communications) 020 7444 0062 / 07979853802Buchanan Communications 020 7466 5000Tim Anderson, Mark Court Mary-Jane JohnsonUniversity of Glasgow 0141 330 2112 Professor Steve Beaumont, Vice Principal,Research & Enterprise Martin Shannon, Media Relations Officer 0141 330 8593 Notes for Editors About IP Group IP Group Plc 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. As at 31 December 2006, 53 spin-out companies had been created among IP Group'suniversity partners. Of those, eight have listed on the AIM market of the LondonStock Exchange, one on PLUS Markets and there have been two trade sales. IPGroup also has 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 the University of Glasgow Founded in 1451, the University of Glasgow is one of the UK's leadinguniversities with an international reputation for its research and teaching andan important role in the cultural and commercial life of the country. With almost 16,000 undergraduate and 4,000 postgraduate students, it is one ofthe country's largest universities. Employing 5,700 staff, it is a majoremployer in the city and, with an annual turnover of £285M, it makes asubstantial contribution to the local economy. The University's world-classresearch base includes pioneering work in the fields of medicine, engineering,ethics, physics, and astronomy. The University is also leading the way inultramodern disciplines like bioelectronics, cell signalling, nanotechnology,and optoelectronics. For more information, please visit our website at www.glasgow.ac.uk. Supported by: Project Part-financed by The European Union This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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