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Don't have an account? Click here to register.Imperial Innovations reports strong progress in top three portfolio companies
Fri, 22nd Mar 2013 08:44
Imperial Innovations, a technology commercialisation and investment group, on Friday reported 'really good' progress in its top three portfolio companies in its half year results. The firm said that in the six months ended January 31st its top three portfolio companies, namely Circassia, Nexeon and Veryan Medical, which represent 52.8% of the value of the portfolio, had all moved closer to commercialisation. However, this success has yet to feed through into revenues, which remained stable at £1.61m, or pre-tax profits, which dipped from £0.93m to £0.92m. That said, the company is very confident about its outlook and said it expects to see either the sale of one of its portfolio companies or the sale of one of its products within the next 12 months. The US Food and Drug Administration (FDA) and the European Medical Agency (EMA) have confirmed that a single successful phase III trial of Circassia's cat allergy product will be sufficient to begin sales, while Veryan Medical has achieved CE mark approval, clearing the way for product launch in Europe. Nexeon will complete its new manufacturing plant in July and have product available for sale this year. The group said that it was continuing to focus on its plan to "grow good businesses that have a good syndicate of backers behind them" and is looking to set all of its companies in a position of stength. In the second half of the year the company anticipates a similar level of investment of £14m. The group explained that it looks to recognise and realise the value added to its companies at appropriate points, saying it believes that this value creation "will be reflected in higher portfolio valuations in due course". Chairman of the group Martin Knight said: "Our portfolio companies are developing well, building long-term value as they progress towards commercialisation. "Our other significant investee companies, including PolyTherics, PsiOxus Therapeutics, Oxford Immunotec, Cortexica and Cell Medica, have also made substantial commercial and technical progress. "The portfolio has a satisfactory depth and spread of technological activity, which the directors believe bodes well for a sustained and sizeable increase in the valuation of our investments."The share price was unchanged. NR
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5 Jan 2017 16:45
Imperial Innovations completes quick-change to Touchstone
(ShareCast News) - Imperial Innovations Group announced on Thursday that, further to the shareholder approval received at its AGM on 21 November 2016, the change of the company's name to Touchstone Innovations took effect on 4 January. The AIM-traded firm added that, with effect from 0800 GMT on Thu
Read more28 Oct 2016 14:18
Imperial Innovations to change name to 'Touchstone'
(ShareCast News) - Imperial Innovations Group announced on Friday that at its annual general meeting on 21 November, it will be seeking shareholder approval to change the name of the company to Touchstone Innovations. The AIM-traded group was originally formed as the technology transfer office for I
Read more24 Oct 2016 15:04
Imperial Innovations celebrates investment momentum
(ShareCast News) - Imperial Innovations Group noted on Monday that its portfolio company, Veryan Medical, has completed enrolment into the MIMICS-2 clinical study of its BioMimics 3D Self-Expanding Stent System. The AIM-traded firm said the MIMICS-2 study is a prospective, multicentre, interventiona
Read more13 Oct 2016 08:36
Imperial Innovations' increases investments as pre-tax loss widens
(ShareCast News) - Imperial Innovations' annual pre-tax loss widened while the technology commercialisation and investment company increased investments across its business with universities and a joint venture. For the year ended 31 July, the pre-tax loss widened to £63.1m from £15.1m, last year, w
Read more6 Oct 2016 15:15
6 Oct 2016 15:15
Imperial Innovations shares up on portfolio company progress
(ShareCast News) - Imperial Innovations Group updated the market on Thursday, noting that its portfolio company TopiVert Pharma has announced that the first patients have been dosed in its Phase IIa proof-of-concept study to evaluate the safety, tolerability and efficacy of a rectal formulation of T
Read more3 Oct 2016 15:20
Imperial Innovations sells Permasense portfolio business
(ShareCast News) - AIM-listed Imperial Innovations has sold its portfolio company Permasense to Fortune 500 company Emerson Electric for an initial consideration of £30.6m in cash. Further amounts of up to £10m may be paid in addition, subject to the Permasense business achieving certain performance
Read more21 Sep 2016 12:23
Imperial Innovations invests £5.1m in new biotech start-up
(ShareCast News) - AIM-listed technology investor Imperial Innovations invested £5.1m in Artios Pharma, a new biotech start-up launched on Wednesday. Imperial Innovations contributed £5.1m to the £25m series A funding round, giving it a 14.9% interest in the new Cambridge- based company. Artios, wh
Read more19 Aug 2016 09:23
Cambridge University innovation investor raises 75 million pounds
LONDON, Aug 19 (Reuters) - Cambridge Innovation Capital, which commercializes technology and healthcare research from Cambridge University, has raised 75 million pounds ($98 million) from investors, including for the first time Woodford Investment Management. CIC, founded in 2013, has alrea
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