Imperial Innovations Group Regulatory News (IVO)

1 Feb 2007 07:00

Imperial Innovations Group plc01 February 2007 Imperial Innovations Group plc ("Imperial Innovations") Investment in Advanced Tissue Therapies Ltd Appointment of Innovations board director to the board of Advanced Tissue Therapies Imperial Innovations Group plc (AIM: IVO), the technology commercialisation andinvestment company, today announces that it is investing £469,000 in AdvancedTissue Therapies Limited ("ATT"), a biomaterials company that develops tissueengineering products aimed at orthopaedic and maxillofacial markets. Theinvestment in ATT is part of a £769,000 seed funding round that also includes a£50,000 investment from Mr. Mark Rowan. Mr Rowan, who is a Non-executiveDirector of Imperial Innovations Group plc, will also become a Non-executiveDirector of ATT. ATT will use the investment to develop two generations of products that promisebetter clinical outcomes for patients than current treatments. The first is aseries of bioactive glasses with innovative features designed to promote bonegrowth that have been developed by Dr Molly Stevens and Professor Robert Hill ofthe Department of Materials at Imperial College London. The second is a familyof materials designed to help the body repair soft tissues as well as bone. Susan Searle, CEO, Imperial Innovations, said, "Advanced Tissue Therapies is a company built upon both strong research and realentrepreneurial drive. We look forward to supporting them as they develop andmarket their products, for which we would anticipate strong demand inestablished markets." Daniel Green, CEO, ATT, said, "The quality of our technology gives us a firm foundation, beyond that of moststart-ups. We are delighted that our investors have demonstrated theirconfidence in our ability to develop it for the benefit of patients." -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:Communications +44 (0)20 7153 1539Patrick d'Ancona / Eleanor Williamson 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 £26 million. The company's integrated approach encompassesthe identification of ideas, protection of intellectual property, developmentand licensing of technology and formation, incubation and investment intechnology businesses. A wide range of technologies are commercialised withinthe areas of healthcare, energy, environment and emerging technology trends. Based at Imperial College London, the company has established equity holdings in66 technology businesses 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 including BAE Systems. Imperial Innovations has invested in a range of spin-out companies, includingThe Acrobot 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,Thiakis Limited and Veryan Medical Limited. Imperial Innovations currently holds shares in four technology businesses nowlisted on AIM including the fuel cell company, Ceres Power plc. About ATT Advanced Tissue Therapies Limited is a biomaterials company with proprietarytechnologies for the development of tissue engineering products aimed initiallyat orthopaedic and maxillofacial markets. This information is provided by RNS The company news service from the London Stock Exchange