Imperial Innovations Group Regulatory News (IVO)

16 Nov 2006 07:01

Imperial Innovations Group plc16 November 2006 Imperial Innovations Group plc ("Imperial Innovations") Contract awarded by BAE Systems Imperial Innovations Group plc (AIM: IVO), the technology commercialisation andinvestment company, has been awarded a contract by BAE Systems to commercialiseselected intellectual property (IP) arising from research activities undertakenwithin BAE Systems Advanced Technology Centre (ATC). As part of the agreement, Imperial Innovations will use its expertise to selectpotential opportunities from the research generated by the 400 scientists andengineers who work within the ATC which fall outside of their chosen markets.Imperial Innovations will then apply its wide experience in commercialising thetechnology through either licensing or forming and incubating a company. Under the terms of the contract, Imperial Innovations will receive a share ofthe equity stake of any company it forms or a percentage stake of the royalty itreceives from a licence deal based on BAE Systems' IP. To lead thecommercialisation of their non-core IP, BAE Systems has agreed to fund adedicated relationship manager at Imperial Innovations. The relationship managerwill also source relevant technology and IP opportunities in support of BAESystems core operations from Imperial College London and other sources. Susan Searle, CEO of Imperial Innovations said, "This partnership is a veryexciting opportunity for Imperial Innovations; not only will we have access to apipeline of IP from an organisation as highly-regarded as BAE Systems, but theagreement also emphasises our strategy of building and developing strongrelationships with industry. " James Baker, Director of Advanced Technology Centre, BAE Systems, said, "We lookforward to developing this significant partnership with Imperial Innovations,not only to develop benefits from the commercialisation of technologies withinthe ATC, but also to build on the partnership to identify and access keytechnologies and capabilities from the commercial sector, aligned in support ofthe MOD's Defence Technology Strategy." -End- For more information contact: Imperial Innovations Susan Searle, Chief Executive Officer +44 (0)20 7594 6591Lucy Ahfong, Marketing Communications Executive +44 (0)20 7594 6644 M:Communications Patrick d'Ancona / Eleanor Williamson +44 (0)20 7153 1539 Notes to Editors About Imperial Innovations Imperial Innovations is one of the UK's leading technology transfer andcommercialisation companies. The company was founded in 1986 and its ordinaryshares admitted to trading on the AIM Market of London Stock Exchange plc inJuly 2006, raising £26 million. The company's integrated approach encompassesthe identification of ideas, protection of intellectual property, developmentand licensing of technology and formation, incubation and investment intechnology businesses. A wide range of technologies are commercialised withinthe areas of healthcare, energy, environment and emerging technology trends. Based at Imperial College London, the company has established equity holdings in58 spin-out companies and has completed 90 commercial agreements. ImperialInnovations also commercialises technologies originating from outside ImperialCollege through incubation contracts with the Carbon Trust and WRAP and hasrelationships with a number of multinational corporations. Imperial Innovations has invested in a range of technology businesses includingThe Acrobot Company Limited, Cardiak Limited, deltaDOT Limited, Future Waves PTELimited, HeliSwirl Technologies Limited, InforSense Limited, Lontra Limited,Midaz Lasers Limited, NanoBioDesign Limited, Nexeon Limited, NovaThera Limited,Thiakis Limited and Veryan Medical Limited. Imperial Innovations currently holds shares in four technology businesses nowlisted on AIM including the fuel cell company, Ceres Power plc. Website: www.imperialinnovations.co.uk About BAE SYSTEMS BAE Systems is the premier transatlantic defence and aerospace companydelivering a full range of products and services for air, land and naval forces,as well as advanced electronics, information technology solutions and customersupport services. With 86,000 employees worldwide, BAE Systems' sales exceededGB£15.4 billion (US$28 billion) in 2005. Website: www.baesystems.com This information is provided by RNS The company news service from the London Stock Exchange