Imperial Innovations releases maiden preliminary results

Posted by Imperial Innovations

Preliminary results

Imperial Innovations Group plc (AIM: IVO), the intellectual property commercialisation and investment companyannounces its preliminary results for the year ended 31 July 2006.  A PDF version of this is also available.

Highlights

• IPO completed 31 July 2006 raising gross £26.0 million.

• Net asset value rising from £19.5m to £46.4m.

• Invention disclosures made: 284 (2005: 158).

• Businesses formed: 10 (2005: 9 companies).

• Technology businesses (spin-outs) at 31 July: 66 (2005: 64).

• Value of shares in spin-outs at 31 July 2006: £27.2 million (2005: £16.9 million).

• Cash at bank and in hand: £32.5 million (2005: £9.8 million).

• Patents filed: 61 (2005: 47 patents filed).

• Licences completed: 20 (2005: 21 licences).

• Total Licence portfolio: 90 (2005: 70 licences).

Post year end highlights

• Russell Cummings appointed as Chief Investment Officer.

• Bio incubator opened on South Kensington Campus with 9 companies already in occupation.

• Investment of £2.1 million in technology companies Thiakis, Inforsense, Midaz, NanoBioDesign and Lontra.

• Establishment of The Consensus Imperial Innovations Commercialisation Centre.

• Establishment of Shell Carbon Trust Low Carbon Seed Fund.

• Establishment of a commercialisation program with BAE systems.

Martin Knight, Chairman commented: “This has been an exciting and transformational year for the company.  It now has the resources to deliver strong growth and to accelerate the development of its assets over the year ahead.”

For further information please contact:

Patrick d'Ancona / Eleanor Williamson            

 +44 20 7153 1539