LONDON (Alliance News) - Frontier IP Group PLC on Monday said it has inked a deal to assist Universidade de Evora in Portugal with company spin-offs and licensing from the institution's research.
The deal marks the first time Frontier IP has formed such an agreement with an academic institution outside the UK. The university was established in 1559.
Evora's strengths are in energy, environment, materials and agriculture, Frontier IP said, with the company to be granted a share of the equity in each spin-off established through the relationship, as well as part of the licensing revenue.
"This agreement with Évora is an exciting step for Frontier IP and is in line with our strategy of developing our relationships internationally, adding to the strong relationships we already have with industrial partners in the region. We are looking forward to working with Évora to develop and commercialise its IP portfolio," Chief Executive Neil Crabb said.
Ana Costa Freitas, rector of Universidade de Evora, said: "At Evora, we discover and develop strong science in defined fields, including environment, agriculture, energy and materials, but recognise the need to commercialise and make the most of this knowledge. Given our lack of experience in this area, we are excited to progress our knowledge and ideas with the Frontier IP team."
Shares in Frontier IP were untraded at 19.01 pence on Monday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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