Biofusion CEO Baynes: “The expanded IP pipeline increases the potential for the development of new blockbuster companies in these growing markets.”
The new 10-year agreement increases the annual research spend to which Fusion has exclusive access from £121.6 million to around £168 million
Under the agreement, Sheffield has the right to appoint a non-executive director to the board of Fusion, and has chosen Robert Rabone, Director of Finance and Resources at the university.
David Baynes, CEO, said the expanded and exclusive agreement with Sheffield gives Fusion access to all of the university’s IP and especially its world-class research in areas including energy, engineering and electronics.
“Fusion is a leading university IP commercialisation business operating amongst a very strong peer group and [this] endorses our current business model and reflects positively on the relationship that we have already built with the University of Sheffield,” said Baynes. He added, “We are confident that Fusion will continue to expand its business model across additional universities in the future.”
According to Baynes, the Fusion portfolio includes companies with potentially disruptive IP in new markets such as knee imaging, wind turbine motors, lensless microscopy and renewable energy.
“The expanded IP pipeline increases the potential for the development of new blockbuster companies in these growing markets,” he said.
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