Imperial Innovations Group plc (AIM: IVO, "Innovations" or "the Group"), a leading technology commercialisation and investment group, has published its results for the year ended 31 July 2015.
Investment highlights
• £60.8 million invested across 30 portfolio companies (2014: £32.8 million across 25)
o 85% invested into existing portfolio companies
• Led three substantial private rounds - Cell Medica (£50 million), Veryan (£18 million) and PsiOxus (£25 million)
• Net portfolio value up by £75.2 million to £327.2 million (2014: £252.0 million)
• Six accelerated growth companies added to investment portfolio
• £479.9 million raised by portfolio companies in the year
• £1.3 billion raised by portfolio companies to date (including £236.8 million invested by Group since its IPO in 2006)
Financial highlights
• Pre-tax profit of £15.1 million (2014: £27.4 million)
o Net fair value gains £21.3 million
• Net assets £420.1 million (2014: £404.8 million)
• Total realisations were £6.9 million
• £178.1 million available to invest, including £50.0 million second EIB loan
• Revenues of £5.1 million (2014: £3.6 million), result of strong licence and royalty income streams
Martin Knight, Chairman of Imperial Innovations, said:
"We have had another year of good progress, producing a healthy profit and delivering on our promise to increase substantially our rate of investment. In fact we have almost doubled it, investing £60.8 million across 30 companies. "A key highlight of the year, was the transformation of Circassia into a FTSE 250 specialty biopharmaceutical company, following its completion of two acquisitions and £275.0 million placing. The successful nurturing of Circassia from an original £2.0 million seed funding round in 2007, provides an excellent illustration of our ability to build substantial, high quality businesses in which we retain a meaningful stake.
"The business model is proven beyond doubt. We have created a strong platform, based on access to the UK's finest science-driven intellectual property, a highly professional investment capability and an executive team with a deep understanding of both the academic mind set and know-how to commercialise early-stage technology.
"We also have a strong balance sheet and the support of an impressive group of like-minded shareholders and co-investors.
"All the key ingredients are in place for us to back our winners, particularly as there are a significant number of companies in our portfolio with the potential to replicate Circassia's success."
A pdf copy of the results is available at http://www.imperialinnovations.co.uk
- ENDS -
Issued for and on behalf of Imperial Innovations by Instinctif Partners.
For more information please contact:
Imperial Innovations Group Plc
020 30538834
Russell Cummings, Chief Executive Officer
Jon Davies, Director of Communication
Instinctif Partners
Adrian Duffield/Melanie Toyne Sewell
020 7457 2020
J.P. Morgan Cazenove (Nominated Adviser)
Michael Wentworth Stanley/Alec Pratt
020 7742 4000
Cenkos Securities
Christopher Golden
020 7397 8900
Help employers find you! Check out all the jobs and post your resume.
• £60.8 million invested across 30 portfolio companies (2014: £32.8 million across 25)
o 85% invested into existing portfolio companies
• Led three substantial private rounds - Cell Medica (£50 million), Veryan (£18 million) and PsiOxus (£25 million)
• Net portfolio value up by £75.2 million to £327.2 million (2014: £252.0 million)
• Six accelerated growth companies added to investment portfolio
• £479.9 million raised by portfolio companies in the year
• £1.3 billion raised by portfolio companies to date (including £236.8 million invested by Group since its IPO in 2006)
Financial highlights
• Pre-tax profit of £15.1 million (2014: £27.4 million)
o Net fair value gains £21.3 million
• Net assets £420.1 million (2014: £404.8 million)
• Total realisations were £6.9 million
• £178.1 million available to invest, including £50.0 million second EIB loan
• Revenues of £5.1 million (2014: £3.6 million), result of strong licence and royalty income streams
Martin Knight, Chairman of Imperial Innovations, said:
"We have had another year of good progress, producing a healthy profit and delivering on our promise to increase substantially our rate of investment. In fact we have almost doubled it, investing £60.8 million across 30 companies. "A key highlight of the year, was the transformation of Circassia into a FTSE 250 specialty biopharmaceutical company, following its completion of two acquisitions and £275.0 million placing. The successful nurturing of Circassia from an original £2.0 million seed funding round in 2007, provides an excellent illustration of our ability to build substantial, high quality businesses in which we retain a meaningful stake.
"The business model is proven beyond doubt. We have created a strong platform, based on access to the UK's finest science-driven intellectual property, a highly professional investment capability and an executive team with a deep understanding of both the academic mind set and know-how to commercialise early-stage technology.
"We also have a strong balance sheet and the support of an impressive group of like-minded shareholders and co-investors.
"All the key ingredients are in place for us to back our winners, particularly as there are a significant number of companies in our portfolio with the potential to replicate Circassia's success."
A pdf copy of the results is available at http://www.imperialinnovations.co.uk
- ENDS -
Issued for and on behalf of Imperial Innovations by Instinctif Partners.
For more information please contact:
Imperial Innovations Group Plc
020 30538834
Russell Cummings, Chief Executive Officer
Jon Davies, Director of Communication
Instinctif Partners
Adrian Duffield/Melanie Toyne Sewell
020 7457 2020
J.P. Morgan Cazenove (Nominated Adviser)
Michael Wentworth Stanley/Alec Pratt
020 7742 4000
Cenkos Securities
Christopher Golden
020 7397 8900
Help employers find you! Check out all the jobs and post your resume.
