Last checked at 29 Jan 2018 07:00
Frontier IP Group Plc
Portfolio News - Molendotech Collaboration with Palintest
Frontier IP, which specialises in the commercialisation of university intellectual property, is pleased to announce that portfolio company Molendotech Limited ("Molendotech"), a spin-out company from the University of Plymouth, has entered into a collaboration agreement with Palintest Limited ("Palintest"), a subsidiary of FTSE company Halma plc, for the development and licencing of water testing products.
Molendotech has developed a novel test which is able to identify the concentration of faecal bacteria in water. Molendotech's rapid, point-of-use test to determine water quality enables more informed decision-making about the use of water and significantly improves the ability to identify and track any pollution source. Molendotech now aims to bring its product to market and to develop further products for the water testing market, in collaboration with Palintest.
Professor Simon Jackson, Director of Molendotech, said, "We are delighted to announce our collaboration with Palintest, a market leader in water testing products. We are looking forward to working with Palintest to accelerate getting our products to market."
Simon Bowman, Technical Director of Palintest, said, "We are very excited to be working with the Molendotech team and pleased to bring our own know-how and expertise to develop and commercialise the Molendotech technology."
Neil Crabb, Chief Executive of Frontier IP, said, "Molendotech is showing strong potential and its technology is capable of addressing a wide range of water-testing applications from beaches to the beverage industry."
For further information:
Frontier IP Group Plc Neil Crabb, Chief Executive Company website: www.frontierip.co.uk | T: 0131 240 1251 |
Cenkos Securities plc (Nominated Adviser and Joint Broker) Neil McDonald / Beth McKiernan | T: 0131 220 6939 |
Peterhouse Corporate Finance Limited (Joint Broker) Lucy Williams | T: 020 7469 0935 |
Kreab (Financial PR) Robert Speed / Matthew Jervois | T: 020 7074 1800 |
Notes to Editor:
About Frontier IP Group plc
Frontier IP specialises in assisting institutions and companies in the commercialisation and exploitation of their intellectual property. It establishes formal and informal relationships with sources of exploitable IP, principally universities. Its core business is building and growing a portfolio of equity stakes in spin-out companies by taking an active involvement in the commercialisation and funding of these businesses.
About Molendotech
Molendotech was created to develop and commercialise the work of Simon Jackson, Professor of Environment and Human Health within the Plymouth University, Peninsula Schools of Medicine and Dentistry. Molendotech develops a rapid assay to screen water for faecal contamination. Current tests on the market may take hours or even days to show results, whereas Molendotech's technology typically produces results in under 15 minutes. A patent has been filed in relation to the technology, which has already been granted in the US for recreational waters.
About Palintest
Palintest is a world-leading manufacturer of water testing kits and environmental products for water quality analysis in drinking water, Pools and Spas, waste water and effluent. Palintest is a wholly owned subsidiary of the FTSE 100 company Halma plc, which employs over 5,800 people in around 50 businesses, based in more than 20 countries, with major operations in Europe, USA and Asia.