TIDMIVO
RNS Number : 0470B
Imperial Innovations Group plc
20 October 2009
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Imperial Innovations Group plc
Imperial Innovations and Longbow Capital lead investment in Bioceramic
Therapeutics
London, UK, 20 October 2009. Imperial Innovations (AIM: IVO, "Imperial
Innovations"), a leading technology commercialisation and investment company,
together with Longbow Capital LLP, has led a funding round for Bioceramic
Therapeutics Limited with a first closing of GBP1.12 million
Imperial Innovations has invested a further GBP300,000 and Longbow Capital, a
new investor, has invested GBP400,000. Other investors in the round include
Comvest Limited and the Esmee Fairbairn Foundation, both of whom are existing
shareholders. In addition, Mark Rowan, a director of Imperial Innovations and a
director of, and existing shareholder in, Bioceramic Therapeutics, has invested
a further GBP20,000 in the round. This investment follows funding of GBP1.04
million in 2007. Imperial Innovations has invested a total of GBP769,000 in
Bioceramic Therapeutics, and now has an equity share of 36.7%.
Bioceramic Therapeutics has also appointed Dr Stephan Rietiker as Chairman. He
succeeds Sir Richard Sykes. Dr Rietiker has been a director since December
2008 and has a proven track record in both large publicly listed and privately
held healthcare companies.
Bioceramic Therapeutics is developing bioactive materials for soft tissue and
orthopaedic and dental applications. Its first products are scheduled for launch
in 2010 and include bone graft substitutes that will help treat bone diseases
and difficult fractures.
Susan Searle, Chief Executive of Imperial Innovations commented:
"Bioceramic Therapeutics has made considerable progress over the last two years
and, with its first products set to be launched in 2010, now is the right time
for further investment to support its development and growth."
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Enquiries:
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| Imperial Innovations | 020 7594 6589 |
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| Susan Searle, Chief Executive Officer | |
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| Diana Crisp, PR Manager | |
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| College Hill | 020 7457 2020 |
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| Adrian Duffield / Tony Stephenson | |
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| Bioceramic Therapeutics | 020 7594 1326 |
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| Daniel Green, Director and Founder | |
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| J.P. Morgan Cazenove (NOMAD to Imperial | 020 7588 2828 |
| Innovations) | |
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| Steve Baldwin | |
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Note to Editors
About Imperial Innovations
Imperial Innovations is one of the UK's leading technology commercialisation and
investment companies. Founded in 1986 and admitted to the AIM Market of the
London Stock Exchange in 2006, Imperial Innovations' access to early stage
technology and intellectual property is unparalleled.
Imperial Innovations' integrated commercialisation approach encompasses the
identification of ideas, the protection of intellectual property, the
development and licensing of technology and the formation, incubation and
funding, through investment, of technology businesses.
Based at Imperial College, London, Imperial Innovations' portfolio of equity
holdings in more than 80 companies spans its three core areas ofenergy usage,
healthcare and communications.
Companies in the portfolio of Imperial Innovations include: Circassia (allergy
therapeutics), Evo Electric (electric motor and generator solutions), Nexeon
(lithium ion battery technology), Polytherics (drug development), Quantasol
(solar concentrators) and Respivert (respiratory drug development).
Imperial Innovations has already realised significant value from its investments
to date including a recent trade sale in December 2008 when Thiakis Limited, a
company in which Imperial Innovations had a 23.7% stake, which was sold for up
to GBP100 million to US-based Wyeth Pharmaceuticals. More recent trade sales
include certain Heliswirl IP to Technip and InforSense to IDBS.
A complete copy of the annual report and accounts for the year ended 31 July
2009 can be found at
www.imperialinnovations.co.uk
About Bioceramic Therapeutics
Bioceramic Therapeutics was spun out of Imperial Innovations Group plc in 2006
and is developing two families of bioactive materials for regenerative medicine
applications. Its first products are scheduled for launch in 2010 and include
bone graft substitutes that will help treat bone defects and difficult
fractures.
The first family of medical devices developed by BCT employ a novel strategy to
encourage bone regeneration and are the basis of a range of bone graft
substitutes, functional surfaces on metal implants, and porous hybrid scaffolds
including polymers to confer a toughness and resilience. The second family is a
set of biomimetic fibrous materials that can be tailored for soft as well as
hard tissue applications. The Company recently attracted a GBP1.4 million
Technology Strategy Board grant-funded programme for the second family of
medical devices designed to take a product to clinical testing in 2012. The
project combines two approaches: a biodegradeable, biocompatible and biomimetic
3D fibrous scaffold for cartilage repair, and a method for the generation and
selection of specific cell types derived from stem cells.
The Company's principal scientific founder Professor Molly Stevens is Professor
of Biomedical Materials and Regenerative Medicine at Imperial College London. In
2009 she was awarded the Jean Leray Award from the European Society for
Biomaterials and has also recently been recognised by Technology Review's TR100,
a compilation of the top innovators under the age of 35 who are transforming
technology and the world with their work.
This information is provided by RNS
The company news service from the London Stock Exchange
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