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Pin to quick picksImperial Innovations Group Share News (IVO)

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Imperial Innovations portfolio value rises as companies near IPO

Wed, 16th Oct 2013 11:25

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
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Imperial Innovations increases investments into Oxford uni spin-off

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(ShareCast News) - Technology transfer group Imperial Innovations has invested £3m in cloud-based platform Concirrus, bringing its stake to 28.6%. Following the investment, the group will have two board members, Kelsey Lynn Skinner and Chris Gomersall, alongside the founders, the company said in a s

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