17 Apr 2013 09:26
17 April 2013
Imperial Innovations Group plc
Board change
Imperial Innovations Group plc (AIM: IVO, "Innovations" or "the Group"), a leading technology commercialisation and investment group, announces that Julian Smith has stepped down as Chief Finance and Operations Officer with immediate effect and will leave the Group after a handover period. Anjum Ahmed, who has been Group Financial Controller for 10 years, has been appointed Treasury and Finance Director. He is not joining the Board.
Anjum is a Fellow of the Association of Chartered Certified Accountants, holds an MBA and has treasury qualifications. Prior to joining Innovations, he was Finance Director of a venture capital backed start up having previously held senior financial roles at GlaxoSmithKline, BBC Worldwide and the British Red Cross.
Martin Knight, Chairman of the Group, said:
"On behalf of the Board and the Group as whole, I would like to thank Julian for his considerable contribution over the last seven years, including his involvement with our Admission to Aim in 2006 and two subsequent fund raisings. We all wish him well for the future.
"Anjum, who has considerable and relevant expertise, has been a key part of the team for over 10 years. He has a detailed knowledge and understanding of all our financial issues."
Enquiries:
Imperial Innovations Group Plc | 020 7594 6506 |
Martin Knight, Chairman | |
Susan Searle, Chief Executive Officer | |
College Hill | 020 7457 2020 |
Adrian Duffield/Tim Watson/Rozi Morris | |
J.P. Morgan Cazenove | 020 7742 4000 |
Michael Wentworth Stanley/Paul Park |
Notes to editors
Imperial Innovations - www.imperialinnovations.co.uk
Innovations creates, builds and invests in pioneering university technologies addressing global problems in healthcare, energy, engineering and the environment. It combines deep understanding of science and technology with commercial acumen and strong investment expertise.
Innovations supports scientist-entrepreneurs in the commercialisation of their ideas by:
·; leading the formation of new companies and providing facilities in the early stages
·; providing significant investment and encouraging co-investment to accelerate the transition from R&D to products
·; providing operational expertise
·; helping to recruit high-calibre industry figures and experienced entrepreneurs as executive management and Board members
Innovations invests in companies based on technologies from or associated with four universities: Imperial College London; and Cambridge University, Oxford University, and UCL supported by its collaborations with Cambridge Enterprise, OSEM and UCL Business. These are the UK's leading research intensive universities, measured by research income.
By raising £140 million in January 2011, Innovations has been able to accelerate the making of, and increase the size of its investments. In the year to 31 July 2012, Innovations invested £37.9 million (2011: £35.1 million) in 29 ventures, and made 11 investments in new companies.
In its current portfolio of 78 companies, Innovations' most advanced assets include Circassia, which develops innovative treatments for a wide range of allergies; and Nexeon, a battery materials and licensing company which develops silicon anodes which extend the life and increase the capacity of lithium-ion batteries.