8th Feb 2006 07:00
IP2IPO Group PLC08 February 2006 For immediate release 8th February 2006 IP2IPO GROUP PLC Revolymer Limited receives funding from IP2IPO IP2IPO Group plc (AIM: IPO) ("IP2IPO") is pleased to announce that it hasinvested £500,000 and has received a 40 % equity interest in Revolymer Limited("Revolymer"), a spin-out company from the Chemistry Department at theUniversity of Bristol. Revolymer is focused on developing new polymers withenhanced physical properties manufactured from existing commodity polymers. Revolymer's novel materials have potential applications in a number of marketsincluding non-stick gums, medical devices, paints and coatings and personalhealth care products and Revolymer is in detailed discussions to establishcommercial partnerships in the near term. Revolymer's management team is lead byCEO Roger Pettman who was co-founder of ChiRex which he took from formation toan IPO on NASDAQ prior to its sale to Rhodia in 2000. IP2IPO's stake in Revolymer is comprised of a 13.3% interest received as aresult of its long-term agreement with the University of Bristol and a 27.7 %interest acquired as a result of a direct investment. The investment made byIP2IPO was part of a £750,000 financing with additional investment from theSULIS Seedorn Fund. Commenting on today's announcement, Alan Aubrey, IP2IPO's Chief Executive, said:"We are very pleased to be completing IP2IPO's first investment from Bristol twomonths after establishing the partnership. Revolymer represents a very excitinginvestment for IP2IPO with exceptional technology addressing potentially verylarge markets and backed by a strong management team." 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. To date, 5 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, Proximagen Neuroscience plc and GETECH Group plc.There has been one trade sale: Toumaz Technology Limited was sold to NanoscienceInc. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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