23 Dec 2009 07:01
Amphion Innovations plc Funding Update and Signs Eight License Agreements worth $4.15 million
London and New York, 23 December 2009 - Amphion Innovations plc (LSE: AMP) ("Amphion" or the "Company"), the developer of medical and technology businesses, today announces that it has received a further subscription of £1,100,000 for the Convertible Promissory Note, first announced on 31 December 2008. This brings the total amount issued to £4,833,265 on the same terms as previously announced.
Amphion also today announces that its wholly owned subsidiary DataTern, Inc., has signed additional non-exclusive intellectual property license agreements with eight leading international corporations for a total of $4.15 million. DataTern has signed 18 licenses since it commenced licensing of this product in June 2008, generating total revenues of approximately $13 million. DataTern has now licensed its intellectual property into the financial, credit card, insurance, retail, leisure, healthcare, airline, e-commerce, and software industries.
DataTern, Inc., was established in order to commercialise selected intellectual property opportunities in partnership with Amphion's Partner Companies.
Richard Morgan, CEO of Amphion said, "We are pleased to announce the continued success of our licensing programme. DataTern has signed a total of 15 agreements for approximately $7.6 million over the course of 2009 and we are optimistic we will achieve a similar level of business in the coming year."
For further information please contact
Amphion Innovations plc Charlie Morgan, Director of Communications +1 (212) 210 6224
Cardew Group +44 20 7930 0777
Charles Stanley (Nominated Adviser) Mark Taylor/ Freddy Crossley +44 20 7149 6000
About Amphion Innovations plc
Amphion (LSE: AMP) builds shareholder value in high growth companies in the medical and technology sectors, by using a focused, hands-on company building approach, based on decades of experience in both the US and UK. Amphion has significant shareholding in 10 Partner Companies developing proven technologies targeting substantial commercial marketplaces, each in excess of $1 billion. Each Partner Company is chosen with the goal of achieving an exit valuation in excess of $100 million.
On the web: www.amphionplc.com
About DataTern, Inc.
DataTern owns and develops critical technology that provides next generation software solutions for its customers. DataTern's patented product offerings include ObjectSpark® Technologies, which allow customers to develop their own customised data service layers, making the company's offerings valuable to most industries, including automotive, banking, chemical, communications, financial, government, healthcare, insurance, pharmaceutical, trading, and many others. Non-exclusive licenses for DataTern's technologies and patents are available on reasonable and non-discriminatory terms.
For licensing terms, please contact info@datatern.com.
On the web: www.datatern.com
AMP.L (AMP)