Imperial Innovations Group Regulatory News (IVO)

21 March 2016

Imperial Innovations Group plc

Dr Martin Knight to step down from the board

Imperial Innovations Group plc (AIM: IVO, "Innovations", "the Group") announces that its Chairman, Dr Martin Knight, intends to step down from the board by the end of the Group's financial year, 31 July 2016. The Nomination Committee has begun the search for a successor and an announcement will be made in due course.

Dr Knight became the Chairman of the Imperial Innovations group of companies in 2003 and was Chairman when the Group quoted on AIM in 2006. Innovations was the first UK university commercialisation company to list its shares on a stock market.

Dr Knight is a Fellow of Imperial College London and was a Governor for 18 years until the end of 2010.

Russ Cummings, Chief Executive Officer, commented:

"Martin has provided outstanding leadership to Innovations over the last 13 years. He is one of the pioneers of the emerging IP commercialisation industry and played an instrumental role in the formation of Innovations.

"His vision to transform Imperial College's technology transfer office into a full-service technology commercialisation business has generated over £200m of value to the College through a combination of its shareholding in Innovations and interest in spinouts and licensing activities.

"Whilst Chairman, Innovations has raised £346 million from three fund raisings and built a portfolio of early-stage business which have collectively raised investments of over £1.3 billion. The full value of his legacy is yet to be realised as the businesses in the portfolio develop and mature.

"On behalf of the Board and everyone at the Group, I would like to thank him for his huge contribution and for all his support over the years." 

Martin Knight, Chairman, said:

"I am delighted to have played a part in the growth and development of Innovations over the last 13 years. It has been a great pleasure to work in this business, which combines some of the best of the UK's scientific researchers with talented management teams and long-term capital.

"The business is in a strong position, with an exciting portfolio, working collaboratively with universities across Oxford, Cambridge and London.

"Now is the right time for me to hand over to a successor, who will lead the business in the next stage of its development and I wish the Group every success in the future."

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