TIDMIVO
RNS Number : 2330Y
Imperial Innovations Group plc
01 September 2009
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Imperial Innovations Group plc
Imperial Innovations leads GBP2 million funding round in Molecular Vision
London, 1 September 2009. Imperial Innovations Group plc (AIM: IVO, 'Imperial
Innovations'), a leading technology commercialisation and investment company,
has led a GBP2 million funding round in Molecular Vision, an emerging developer
of quantitative point-of-care (POC) diagnostic devices.
Imperial Innovations has committed GBP1.5 million, with Acrongenomics Inc,
another existing shareholder, also participating in the round. This takes the
amount of money raised by Molecular Vision to GBP3.2 million. Investment Manager
Maina Bhaman will join Molecular Vision's Board.
Molecular Vision, which was spun out of Imperial College London, is developing a
line of low-cost disposable devices for medical testing that will greatly extend
the diagnostic tools available to the general practitioner. By enabling
on-the-spot diagnosis, Molecular Vision's technology could reduce the need for
patients to make repeat visits, accelerate treatment, free up clinician time and
lower treatment costs.
Molecular Vision's patented technology has great potential in other markets
including veterinary medicine, forensic science, environmental monitoring and
military applications. The company has recently begun a major research
collaboration with a global cosmetic company.
Peter Woodford, Chairman of Molecular Vision said:
"I am delighted at the continuing support shown by Imperial Innovations. Through
this investment, we are now well placed to drive the company forward and bring
our technology to market."
Susan Searle, Chief Executive of Imperial Innovations said:
"Point-of-care diagnostics is becoming increasingly important in the provision
of patient care and through its innovative technology, Molecular Vision is well
placed to provide healthcare professionals with highly advanced solutions. We
look forward to helping Molecular Vision in the next phase of its growth."
Enquiries
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| Imperial Innovations | |
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| Susan Searle, Chief Executive Officer | Tel. 020 7594 6589 |
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| Diana Crisp, PR Manager | |
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| College Hill | Tel. 020 7457 2020 |
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| Carl Franklin / Tony Stephenson | |
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| Molecular Vision | |
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| Dr. Ian Campbell, CEO | Tel. 020 7594 1430 |
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| J.P. Morgan Cazenove (NOMAD to Imperial | |
| Innovations) | |
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| Steve Baldwin | Tel. 020 7588 2828 |
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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 Molecular Vision Limited
Molecular Vision is developing low-cost, easy-to-use microfluidic devices for
medical testing that will greatly extend the range of in-house tools available
to the general practitioner. The devices are being developed to allow
near-patient quantitative diagnosis, currently focusing on key areas of high
disease burden such as kidney function and cardiovascular disease. The
technology has additional potential applications outside the diagnostics market,
including forensic science, homeland security and environmental monitoring.
http://www.molecularvision.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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