13th Mar 2006 07:01
IP2IPO Group PLC13 March 2006 For immediate release 13th March 2006 IP2IPO GROUP PLC 25 YEAR UNIVERSITY-WIDE PARTNERSHIP WITH THE UNIVERSITY OF YORK IP2IPO Group plc (AIM: IPO) ("IP2IPO"), the intellectual propertycommercialisation company, is pleased to announce that it has entered into anexclusive long-term partnership with the University of York. The partnership isin addition to IP2IPO's current partnership with the Centre for NovelAgricultural Products, a flagship research centre that specialises in plant andmicrobial gene discovery. The University of York was founded in 1963 and now has 10,700 students and 3,000staff with more than 30 academic departments and research centres. It has beenranked in the top ten of UK universities in a number of university league tablesand 18 departments received a 5 or 5* rating in the most recent ResearchAssessment Exercise, including the departments of Computer Science, Biology,Chemistry and Mathematics Under the terms of the partnership, IP2IPO has agreed to work with theUniversity of York to identify and facilitate the formation of spin-outcompanies from across the University and to invest an initial fund of £5 millionin such companies in return for equity stakes in them. In addition, IP2IPO willreceive 25% of the equity in any spin-out company from the University at thetime that the company is established, prior to investment, if IP2IPO invests inthe company from the fund and 15% of the equity if it does not invest from theFund. IP2IPO will also receive 10% of any income which York receives fromlicencing during the lifetime of the partnership. The partnership has a term of25 years. Alan Aubrey, Chief Executive of IP2IPO, commented: "We are very pleased to beentering into this wider partnership with the University of York. We havedeveloped an excellent working relationship at all levels within the Universityover the last two and a half years and we believe that the quality of researchtogether with the entrepreneurial spirit at York provide the potential for us tocreate an exciting portfolio of spin-out companies and to generate further valuethrough licensing." Professor Brian Cantor, Vice-Chancellor of the University of York, said: "Iwelcome this broadening of the University relationship with IP2IPO. It willcomplement our world-class research and enable us to create new knowledge-basedbusinesses for the benefit of the University and the economy, locally,regionally and nationally." For more information please contact: IP2IPO 020 7489 5200Alan Aubrey, Chief Executive Officer Buchanan Communications 020 7466 5000Tim Anderson, Mark Court, Mary-Jane Johnson University of York 01904 432153David Garner, University of York 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 per cent. equity stake inAmaethon Limited (the remaining equity being owned by the University of York)and will also invest in the spin-out companies based on CNAP's IP which AmaethonLimited 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 per cent.) interest in spin-outcompanies created and technology licences negotiated, in return for theprovision of technology transfer services to the University. In May 2005, IP2IPO announced the launch of Modern Biosciences, which willin-license life science intellectual property created by medical researchers atuniversities with which IP2IPO already has partnerships, other universities inthe UK and similar academic and charitable research institutions. ModernBiosciences' objective is to further develop the intellectual property which itin-licenses with a view to creating substantial value either by subsequentlylicensing these development programmes to the pharmaceutical industry or via thecreation of new ventures. 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 return, IP2IPO will receive 13.3 per cent of equity spin-out companies fromthe University of Bristol at the time that the spin-out company is establishedprior to investment. The partnership has a term of 25 years. In February 2006, IP2IPO entered into its seventh long-term partnership with theUniversity 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:
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