TIDMIVO
RNS Number : 3406Z
Imperial Innovations Group plc
21 September 2009
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Imperial Innovations Group plc
GBP1.16 million investment to help Cell Medica commercialise pioneering cell
therapy
London, 21 September 2009. Imperial Innovations Group plc (AIM: IVO, 'Imperial
Innovations'), a leading technology commercialisation and investment company,
has invested GBP1.16 m in Cell Medica Ltd., an early stage cellular therapeutics
company developing innovative cell-based treatments for infectious disease and
cancer.
Imperial Innovations led the GBP1.95 million funding round, which included
GBP0.79 m from private investors. Cell Medica has now raised a total of GBP4.5 m
in equity and convertible debt investment capital. The proceeds will be used by
Cell Medica to commercialise Virus-specific Immune Reconstitution, a cell
therapy technique which protects patients with weakened immune systems against
cytomegalovirus (CMV) infections, particularly after bone marrow transplants.
Infections are a major cause of mortality in this patient group.
Launched in 2007 with funding from Imperial Innovations and the Wellcome Trust,
Cell Medica is commercialising clinically proven cell therapy techniques, some
of which were developed at Imperial College London.
Imperial Innovations has provided Cell Medica with early stage company support
services and industry expertise, including the appointment of investment manager
Maina Bhaman to its board.
Susan Searle, CEO of Imperial Innovations, said:
"We believe Cell Medica has an important new approach to the treatment of many
serious diseases and are confident that our funding and support will help it
become a commercial success."
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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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| | |
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| College Hill | 020 7457 2020 |
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| Carl Franklin / Tony Stephenson | |
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| | |
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| Cell Medica | 020 7554 4070 |
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| Gregg Sando, Chief Executive Officer | |
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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 of Healthcare,
Engineering & IT, and Energy & Environment.
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 from a recent trade sale in December 2008 when Thiakis
Limited, a company in which Imperial Innovations had a 23.7% stake, 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.
www.imperialinnovations.co.uk
About Cell Medica
Cell Medica is a clinical stage cellular therapeutics company engaged in the
development and delivery of cellular immunotherapy treatment strategies for
infectious disease. The Company's lead clinical application, involves the
transfer of donor-derived virus-specific T cells into a patient in order to
prevent infections following bone marrow transplant.
Cell Medica was founded to convert a complex cellular immunotherapy technique
developed by members of its Scientific Advisory Board into a cost effective and
convenient medical treatment which can be used by hospitals on a routine basis.
The method has been proven safe and effective in several exploratory clinical
studies, and is currently being tested in a controlled, randomised clinical
study across 11 centres in the UK.
www.cellmedica.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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