Imperial Innovations reports progress as it succeeds in cash exits

Imperial Innovations Group plc, the quoted technology transfer arm of Imperial College, has published financial results for the year ended 30 July 2010, highlighting the sale of the respiratory specialist Respivert for £9.5 million, an overall 4.7 times return on its three-year investment.

In total the company made £9.9 million from exiting companies, while making new investments of £14 million in 20 companies. This brings to £47.9 million the total investment Imperial Innovations has made since its initial public offering in 2006.

Over the year, three new companies were launched and raised seed funding. Pre-tax profits for the year were £5.5 million, compared to £5.3 million a year earlier.

Licence and royalty revenues came to £2.2 million, and the net asset value of all Imperial Innovations’ investments is £91.1 million.

Martin Knight, Chairman of Imperial Innovations, said, “Innovations made good progress in 2010 with the level of investment remaining strong at £14.0 million, the portfolio as a whole raised £75 million. This brings the total raised by the portfolio since the Group’s IPO in 2006 to over £210 million.”