Imperial Innovations Group plc (AIM: IVO, “Imperial Innovations”, “the Group”), a leading technology commercialisation and investment group, has published audited results for the year to 31 July 2009.
Operational highlights
• Refocused investment strategy on fewer, higher-quality opportunities
• First major exit has potential to generate £16.1m from £1.5m investment, plus royalty stream.
• £14.4m invested in 20 companies
• Six new businesses funded and launched
• Strong pipeline: 50 patents filed, 328 inventions appraised
Financial highlights
• Pre-tax profits £5.3m (2008: loss £6.7m)
• Net proceeds from sale of investments £3.9m (2008: £3.3m)
• Royalty revenues up 33% to £1.2m (2008: £0.9m)
• Net asset value £85.6m (2008: £80.3m)
• Cash and short term liquidity investments at year end £30.7m (2008: £43.1m)
Martin Knight, Chairman of Imperial Innovations, said:
“We are uniquely positioned to be able to create, build and invest in ground-breaking technology opportunities addressing large international markets. Our focus is on companies and IP that address the great global challenges: energy usage, healthcare, communications. Breakthrough technologies in these fields are of great potential value.
“Having built a portfolio of pioneering technologies and companies through our collaboration with, and proprietary access to the IP emanating from Imperial College London, 2009 was a year in which we began to realise substantial value from our investments. We achieved a creditable financial performance with the first major disposal and a notable increase in net asset value, all at a time of great economic uncertainty.
“Our approach is now proven and we are building a long term sustainable position supported by a strong balance sheet. We are well positioned to deliver further exits from an array of impressive and well-managed companies in the portfolio; and the pipeline of attractive investment and licence opportunities remains strong.
“The Board remains confident that the momentum and good progress achieved last year will be maintained in the current financial year.”
Imperial Innovations is one of the UK’s leading technology commercialisation and investment companies. Founded in 1986 and admitted to the AIM in 2006, Imperial Innovations’ access to early stage technology and intellectual property is unparalleled.
Imperial Innovations’ integrated commercialisation approach encompasses the identification of ideas, the protection of intellectual property, the development and licensing of technology and the formation, incubation and funding, through investment, of technology businesses.
Based at Imperial College London, Imperial Innovations’ portfolio of equity holdings in more than 80 companies spans its three core areas of energy usage, healthcare, communications.
Companies in the portfolio of Imperial Innovations include: Circassia (allergy therapeutics), Evo Electric (electric motor and generator solutions), Nexeon (lithium ion battery technology), Polytherics (drug development), Quantasol (solar concentrators) and Respivert (respiratory drug development).
A complete copy of the Annual Report and Accounts for the year ended 31 July 2009 can be found at http://www.imperialinnovations.co.uk/annualreport2009.pdf
