Imperial Innovations, a UK-listed university venturing firm spun off from Imperial College, London, has £109.5m ($177m) left to invest, according to the company’s first half results on Monday. It invested £25.7m in the year to the end of January The company added it had invested £10.4m in 14 companies, in the six months to the end of January. It said it had made investments in University of Cambridge-linked companies Mission Therapeutics and Cambridge Communications Systems. Imperial Innovations added it had invested £5m in biotechnology company Autifony Therapeutics, a spin-out from GlaxoSmithKline (GSK) collaborating with the University College London’s Ear Institute. The company added it had invested in biopharmaceutical company Circassia of £11.75m, after the period’s end, taking its investment in the company to £72m, up from £60 million. It added in March 2012, it led a £3.3m round for medical diagnostics company Abingdon Health, investing £2m. Martin Knight, chairman of Imperial Innovations, said: "We have invested over £25m in our portfolio companies already this year. Significantly, we have over £100m available to back further our top companies, as well as maintaining our very active programme of investing in new enterprises from the fourleading research-based universities." Knight added: "At a time when energy storage and power capacity is so critical in a number of consumer and automotive markets, Nexeon’s battery technology couldn’t be better positioned. Meanwhile, Circassia’s novel approach to the huge allergy market is making excellent progress with its proprietary ToleroMune technology which tolerises the body to the allergen, such as cat, ragweed, house dust mite or grass. "Behind these two front runners, we have another eight exciting and fast developing businesses, encompassing a wide range of healthcare and technology markets."
Imperial Innovations has $177m war chest
Apr 24, 2012 •
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