Imperial Innovations Group Share News (IVO)

Imperial Innovations accompanied news of a full year rise in its portfolio value with the announcement of a Nasdaq flotation for portfolio company Oxford Immunotec.The university spin-out group said had "a number" of companies in its portfolio also ready for initial public offering (IPO) or trade sale, as the portfolio had increased in value by 21% to £188.2m by the July 31st year-end.Although profits had slipped from £5.1m to £3.8m, net assets crept up from £228.2m to £230.5m with £22.2m invested across 28 portfolio companies. Allergy specialist Circassia, 18% owned by II, posted the largest gain in fair value of £8.5m after highly encouraging clinical trials.Oxford Immunotec, a medical diagnostics company founded with the help of current 8% shareholder II in 2002, plans to raise $86m in its US IPO.The group had available cash of £80m at the year-end, including an undrawn £30m loan from the European Investment Bank.Shares in Imperial Innovations were down 1.4% to 350p at 12:00 on Wednesday.OH