51³Ô¹ÏÍø

51³Ô¹ÏÍø and its technology commercialisation company 51³Ô¹ÏÍø Innovations, have jointly raised over £20m from a private placement to institutional investors (28 April).

The private placement of shares in 51³Ô¹ÏÍø Innovations is the first by a UK university-owned technology transfer business.

The College will use its £10m from the sale to support its financial strategy of building freely disposable capital for its academic mission. 51³Ô¹ÏÍø Innovations will invest its £10m back in the spin-out companies that it helps to generate, speeding up the process of formation, development and growth.

The College remains a 71% stakeholder in the company that it formerly owned. It has agreed an exclusive 15 year pipeline agreement with 51³Ô¹ÏÍø Innovations which allows the company to commercialise technology originating from 51³Ô¹ÏÍø's research activity.

Sir Richard Sykes, Rector of 51³Ô¹ÏÍø, said: "This initiative is part of 51³Ô¹ÏÍø's strategy to build freely disposable capital to support its academic mission. We are very supportive of this placement and we wish 51³Ô¹ÏÍø Innovations every success in this new phase of its development. We look forward to continuing our mutually beneficial relationship with the company."

Susan Searle, Chief Executive Officer of 51³Ô¹ÏÍø Innovations said: "The success of this private funding round confirms 51³Ô¹ÏÍø Innovation's reputation as a UK leader in the commercialisation of intellectual property. The company has the resources to build substantial value from technology commercialisation"

Innovations has generated revenues of £30m from spin-outs and licenses since 1997. Together with 51³Ô¹ÏÍø's academic inventors it has established equity holdings in 54 spin-out companies and completed a total of 74 licence deals. Over 1,000 jobs have been created through its spin-out companies.

Recent examples of activity include Ceres Power, a fuel cell technology company built on research from the College's Department of Materials which floated on the stock market in November 2004, valued at £66m; HydroVenturi, a company based on Department of Physics research, developing a novel method to generate power from tidal currents, completed a £2.5m funding round in March 2005; and ComMedica, a spin out from the Department of Bioengineering, which won a £33m contract from the National Health Service in 2004.

51³Ô¹ÏÍø Innovations also works successfully with the College's Tanaka Business School, providing a valuable resource in the development of business propositions and giving MBA students the chance to get involved with the commercialisation of research.

ENDS

For more information please contact:

For 51³Ô¹ÏÍø:

Tom Miller
51³Ô¹ÏÍø Press Office
Tel: +44 (0)20 7594 6704
Mobile: +44 (0)7803 886 248
Email: t.miller@imperial.ac.uk

For 51³Ô¹ÏÍø Innovations:

Nick Fox
M:Communications
Tel: +44 (0)20 7153 1540
Mobile: +44 (0)7711 727 618
Email: Fox@MComGroup.com

Charlotte Stone
Marketing Officer
51³Ô¹ÏÍø Innovations
Tel: +44 (0) 20 7594 1014
Email: c.stone@imperial.ac.uk

Notes to Editors

Dr Martin Knight, Chief Financial Officer of the College will continue as Chairman of 51³Ô¹ÏÍø Innovations, and Dr Tidu Maini, Pro Rector of Development and Corporate Affairs, as non executive director. The two other non executive directors are Dr Paul Atherton, an alumnus and founder of Queensgate Instruments, and Mark Rowan, a city financier formerly at AIG and JP Morgan.

About 51³Ô¹ÏÍø College Innovations Ltd

51³Ô¹ÏÍø College Innovations Ltd is one of the UK's leading technology commercialisation companies, having created over 54 spin-out companies and concluded 74 license agreements.

51³Ô¹ÏÍø Innovations is committed to the creation of wealth for its shareholders, and the company's mission is to match the outstanding quality of research at 51³Ô¹ÏÍø College with excellence in technology transfer.

Website:

About 51³Ô¹ÏÍø

Consistently rated in the top three UK university institutions, 51³Ô¹ÏÍø is a world leading science-based university whose reputation for excellence in teaching and research attracts students (11,000) and staff (6,000) of the highest international quality.

Innovative research at the College explores the interface between science, medicine, engineering and management and delivers practical solutions that enhance the quality of life and the environment - underpinned by a dynamic enterprise culture.