Imperial Innovations Group Regulatory News (IVO)

23 Oct 2006 16:17

Imperial Innovations Group plc23 October 2006 23 October 2006 Imperial Innovations Group plc ("Imperial Innovations") Sale of shareholding in Integration Diagnostics Limited Imperial Innovations Group plc (AIM: IVO), one of the leading technologytransfer and commercialisation companies in the UK, today announces the sale ofits shareholding in Integration Diagnostics Limited ("IDL") to Biolin AB("Biolin). The sale by Imperial Innovations is part of Biolin's acquisition of at least 95%of the issued shares of IDL. Upon completion of the acquisition, eachshareholder will receive a price per share of £1,600 and each option-holder willreceive a price per share of £1,600 less the exercise price. Completion of thesale is conditional upon funds to be raised by Biolin. Imperial Innovations holds 136 shares in IDL, which is 8.1% of the issued sharecapital of IDL. IDL IDL was formed to commercialise an invention developed in part by ProfessorPeter Cawley, of Imperial College London. IDL develops and markets a unique andproprietary instrument for measurement of dental implant stability. IDL hassuccessfully established its measurement technology amongst 2000 dentists anddental surgeons around the globe Biolin Biolin AB is a diversified group made up of technology-based anddevelopment-intensive companies within life science. Disclosure of Director's interest Dr Martin Knight, Chairman of Imperial Innovations Group plc and ChiefOperating Officer of Imperial College London, is Chairman of IDL and owns in IDL9 shares, 27 options with an exercise price of £18.52 and 25 options with anexercise price of £1000 and Dr Martin Knight's wife, Deborah Knight owns 18shares. Dr Knight said: "IDL is a successful spin-out, having moved from ImperialCollege's laboratories to the market place, and having delivered value toshareholders". -End- For more information contact: Imperial InnovationsSusan Searle, Chief Executive Officer +44 (0)20 7594 6591Lucy Ahfong, Marketing Officer +44 (0)20 7594 6644 M:CommunicationsPatrick d'Ancona / Eleanor Williamson +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 ofhealthcare, 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 spin-out companies including TheAcrobot 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,Photobiotics Limited, Thiakis Limited and 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