Imperial Innovations Group Regulatory News (IVO)

5 Sep 2006 07:02

Imperial Innovations Group plc05 September 2006 Imperial Innovations Group plc ("Imperial Innovations") Appointment of Chief Investment Officer Imperial Innovations Group plc (AIM: IVO), one of the leading technologytransfer and commercialisation companies in the UK, is pleased to announce theappointment on 18 September 2006 of Russell Cummings to the board of directorsas Chief Investment Officer. Russell Cummings, aged 42, joins Imperial Innovations from Scottish EquityPartners Ltd where as Director in the Information Technology Group he wasresponsible for investment in high growth technology companies. Mr Cummings willmanage the investment decision-making and review process at Imperial Innovationsand will develop further the Investment Advisory Group. Mr Cummings has 19 years' experience of venture capital and in the last five years has been, but is no longer, a director at 3i plc, Vistorm Holdings Limited, Vistorm Limited, Appsense Holdings Limited, Alta A/S, Zeus Technology Limited and Surfkitchen Inc. and a partner at SEP II Founder Limited Partnership and SEP III Founder Partner Limited Partnership. There are no further details to be disclosed under Rule 17 Schedule 2 paragraph(g) of the AIM Rules. Martin Knight, Chairman of Imperial Innovations, said: "Russell's track record of investment in technology companies will be invaluablein taking our investment management forward and it is gratifying to have foundso suitable a candidate so soon after flotation." Russell Cummings said: "I am pleased to be joining the company at such an exciting time after therecent admission to AIM and look forward to working with the experienced membersof the Investment Advisory Group." -Ends- For more information contact: Imperial InnovationsMartin Knight (Chairman) +44 (0)20 7594 1403Susan Searle (Chief Executive Officer) +44 (0)20 7594 6644 M:CommunicationsPatrick d'Ancona +44 (0)20 7153 1547 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 in spin-outcompanies. A wide range of technologies are commercialised within the areas ofbioscience and technology and engineering. 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 companies including The AcrobotCompany Limited, Cardiak Limited, deltaDOT Limited, Future Waves PTE Limited,HeliSwirl Technologies Limited, InforSense Limited, Lontra Limited,NanoBiodesign Limited, Nexeon Limited, NovaThera Limited, Photobiotics Limitedand Veryan Medical Limited. Imperial Innovations currently holds shares in three spin-out companies nowlisted on AIM; fuel cell company, Ceres Power plc, and ParOS plc, a provider ofenergy-saving advanced control solutions, as well as Nanoscience plc, adeveloper of low power integrated circuits and silicon chips, following itsacquisition of spin-out company Toumaz Technology Limited. Website: www.imperialinnovations.co.uk This information is provided by RNS The company news service from the London Stock Exchange