5th May 2005 10:29
IP2IPO Group PLC05 May 2005 For immediate release 5 May 2005 IP2IPO GROUP PLC ("IP2IPO" or "the Company") Nanotecture secures £3.6 million in third round finance IP2IPO Group plc (AIM: IPO), the intellectual property company thatcommercialises university technology, is pleased to announce that NanotectureGroup plc ("Nanotecture") a spin-out company from the University of Southamptonin which IP2IPO holds an equity stake, has succeeded in raising £3.6m in thirdround finance. The round includes £2 million from new investors Foresight Venture Partners, aleading UK technology-focussed venture capital trust investor. Other investorsin the round include Quester, Top Technology Ventures, and Artemis VCT. Nanotecture has created a novel way of controlling the architecture of metalfilms at nano-scale (one billionth of a metre). Its patent protected technologywill contribute to the rapid product development of the multi-billion dollarconsumer electronics industry. Nanotecture is in talks with major Japanesemanufacturers about how its technology can boost the power of batteries inmobile devices, while reducing their bulk. Development contracts andcollaboration agreements have been signed with a number of leading companies. The financing round, which was substantially oversubscribed, capitalises thecompany at £9.9 million. In line with its business model, IP2IPO did not make afurther investment in the Company. Post the completion of the financing, IP2IPOholds a 10.2% interest in Nanotecture. For more information please contact: IP2IPODavid Norwood, Chief Executive Officer 020 7489 5200 NanotectureChris Wright, Chief Executive Officer 023 8076 7074 Buchanan CommunicationsTim Anderson, Mark Court, Mary-Jane Johnson 020 7466 5000 Notes for editors About IP2IPO IP2IPO is an intellectual property (IP) company that specialises incommercialising university technology. The Company was founded in 2001 andlisted on AIM in October 2003. IP2IPO's first partnership was with theUniversity of Oxford. In return for an investment of £20 million, IP2IPO hasacquired 50 per cent of the University of Oxford's equity in spin-out companiesand technology licenses based on intellectual property created at the ChemistryDepartment until 2015. In November 2003, IP2IPO created a £5 million seedcapital fund for investing in spin-out companies across the University ofOxford, not just those originating within 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 future spin-out companies. The partnership hasa term of 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 an initial 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 hascommitted to invest £1.15m in Amaethon Limited in return for a one third equitystake in Amaethon Limited (the remaining equity being owned by the University ofYork) and will also invest in the spin-out companies based on CNAP's IP whichAmaethon Limited creates. 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 AiM:Offshore Hydrocarbon Mapping plc, Synairgen plc, VASTox plc and ProximagenNeurosciences plc. For more information on IP2IPO, visit www.ip2ipo.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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