21 Apr 2017 11:21
21 April 2017
Touchstone Innovations plc
Innovations invests £2.9m in Abzena placing
Touchstone Innovations plc (AIM: IVO, 'the Group', 'Innovations') has invested £2.9 million in the £25.0 million Placing of portfolio company Abzena PLC ('Abzena' or the 'Company') which completed earlier today, following the passing of the required Resolutions at the Company's General Meeting.
Innovations first invested in Abzena (formerly Polytherics) in 2007 having led a £2.3 million investment round into the Company. Prior to the Placing Innovations held a 19.7 per cent. of the voting rights attached to the issued share capital of Abzena. Following the Placing this holding is now 16.9 per cent.
Russ Cummings, CEO of Touchstone Innovations, said:
"We continue to be enthusiastic supporters of Abzena and are pleased to take part in this placing which will give the company the firepower it needs to capitalise on the growing international demand for its proprietary technologies and services.
"We are delighted by the investor support for this Placing and the broadening of Abzena's share register."
For further information contact:
Touchstone Innovations plc | 020 3053 8834 |
Russ Cummings, Chief Executive Officer |
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Jon Davies, Director of Communications |
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Instinctif Partners | 020 7457 2020 |
Adrian Duffield/Melanie Toyne-Sewell/Chantal Woolcock |
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J.P. Morgan Cazenove (Nominated Adviser) | 020 7742 4000 |
Michael Wentworth-Stanley/Alec Pratt |
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RBC Capital Markets | 020 7653 4000 |
Darrell Uden/Marcus Jackson/Laura White |
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About Touchstone Innovations - www.touchstoneinnovations.com
Touchstone Innovations plc (formerly Imperial Innovations Group plc or just "Innovations") creates, builds and invests in pioneering technology companies and licensing opportunities developed from outstanding scientific research from the 'Golden Triangle', the geographical region broadly bounded by London, Cambridge and Oxford.
This area has an unrivalled cluster of outstanding academic research and technology businesses, and is home to four of the world's top 10 universities, as well as leading research institutions, the cream of the UK's science and technology businesses and many of its leading investors.
Innovations supports scientists and entrepreneurs in the commercialisation of their ideas through protecting and licensing out intellectual property (through its Technology Transfer subsidiary, Imperial Innovations), by leading the formation of new companies, by recruiting high calibre management teams and by providing investment and encouraging co-investment. Innovations remains an active investor over the life of its portfolio companies, with the majority of Innovations' investment going into businesses in which it is already a shareholder.
Since becoming a public company in 2006, Innovations has raised more than £440 million of equity from investors, which has enabled it to invest in some of the most exciting spin-outs to come out of UK academic research. In addition, the Group has agreed £80.0 million in loan facilities from the European Investment Bank (EIB).
Between Innovations' admission to AIM (August 2006) and 31 January 2017, Innovations has invested a total of £335.7 million across its portfolio companies, which have collectively raised investment of £1.5 billion.