Imperial Innovations Group Regulatory News (IVO)

22 Nov 2007 08:00

Imperial Innovations Group plc22 November 2007 Imperial Innovations Group plc ("Imperial Innovations") Imperial Innovations Group plc (AIM:IVO), today announces that £1.5 million ofseed funding has been raised for i2india Holdings Limited ("i2india"), atechnology commercialisation and investment company focused on creatingcommercial value from intellectual property developed in India. ImperialInnovations holds a 35% stake in the company. In a manner similar to the Imperial Innovations business model, i2india willdevelop and commercialise intellectual property (IP). However, the technologiesthis IP represents will arise from a range of Indian research institutes,universities, research organisations and corporations, organisations with whichImperial Innovations and, Mr Chris Mathias Chairman of i2India, have strongrelationships. The company will enable world-class Indian institutes tocapitalise on their intellectual property which remains largely underexploited.i2india will also provide Imperial Innovations' technologies and technologybusinesses with greater market opportunities in India, enabling them to leveragethe low-cost, world-class manufacturing and technology development resourcesavailable there. The seed funding was raised from a group of investors which includes ImperialInnovations, Mr Chris Mathias, and i2india's Advisory Board Members, comprisingMr D.S. Brar, Chair of GVK Biosciences Ltd and a director of the Reserve Bank ofIndia, Mr Donald Peck, Managing Partner of Actis India (VC) and Graham Wrigleyex-senior partner of Permira. Susan Searle, CEO of Imperial Innovations, joins the board of i2india as adirector alongside Mr Chris Mathias, a successful entrepreneur and co-founder ofConduit Communications, a software and web development company. Susan Searle, CEO Imperial Innovations, said, "We are pleased to establish an international associate company, i2India. Indiahas many world class institutions, and scientific publications from Indianorganisations are becoming increasing influential outside India. i2india willhelp Indian institutes make the most of potentially valuable research and bringmany positive benefits to the Indian economy." Chris Mathias, Chairman of i2india, said, "I2india is an important and exciting endeavour. I am looking forward to makingi2india a key part of the innovation infrastructure in India." -Ends- For more information contact: Imperial InnovationsSusan Searle, Chief Executive Officer +44 (0)20 7594 6591Lucy Ahfong, Marketing Communications Executive +44 (0)20 7594 6644 M:CommunicationsPatrick d'Ancona / Eleanor Williamson +44 (0)20 7153 1539 JP Morgan Cazenove (NOMAD to Imperial Innovations)Steve Baldwin +44(0)20 7588 2828 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 £25 million at an offer price of 365p and £1 million by meansof a public offer. The company's integrated approach encompasses the identification of ideas,protection of intellectual property, development and licensing of technology andformation, incubation and investment in technology businesses. A wide range oftechnologies are commercialised within the areas of healthcare, energy,environment and emerging technology trends. Based at Imperial College London, the company has established equity holdings in74 technology businesses and is managing 133 commercial agreements as of 31 July2007. Imperial Innovations also commercialises technologies originating fromoutside Imperial College through incubation contracts with the Carbon Trust andWRAP and has commercialisation contracts with a number of multinationalcorporations including BAE Systems. www.imperialinnovations.co.uk This information is provided by RNS The company news service from the London Stock Exchange