Information  X 
Enter a valid email address

Fusion IP PLC (FIP)

  Print      Mail a friend       Annual reports

Tuesday 05 October, 2010

Fusion IP PLC

Directorate Change

RNS Number : 8658T
Fusion IP PLC
05 October 2010
 



For immediate release

5 October 2010

 

 

 

 

FUSION IP PLC

("Fusion IP" or "the Company")

 

Directorate Change

 

Fusion IP plc (AIM: FIP), the university IP commercialisation company that turns world class university research into business, is delighted to announce the appointment of Tony Gardiner (aged 39) as Finance Director with immediate effect. Tony Gardiner, who is a Chartered Accountant, joined the Company in 2007 as Chief Financial Officer having previously held senior financial positions with Eversheds LLP and KCOM Group Plc.

 

Current directorships within the Fusion IP Group:

 

Fusion IP Sheffield Limited

Fusion IP Cardiff Limited

Fusion IP One Limited

Fusion IP Two Limited

 

Past directorships within the Fusion IP Group:

 

Magnomatics Limited

Mesuro Limited

 

There are no further disclosures required to be made in respect of Mr Tony Peter Gardiner with regard to Schedule 2(g) of the AIM rules.

 

Commenting on the appointment, David Baynes, CEO of Fusion IP said:

"Tony has made a significant contribution to the Company over the last few years and his promotion to the main Board is much deserved recognition of this fact. I look forward to continuing to work with Tony."

 

About Fusion IP:

Fusion IP plc, previously called Biofusion plc, was established in 2002 to commercialise university-generated intellectual property. Fusion IP has signed long term agreements with two of the UK's leading research intensive universities, the University of Sheffield and Cardiff University, giving a combined R&D spend attributable to Fusion IP of approximately £185m a year.

 

Fusion's first agreement was a ten-year exclusive arrangement with the University of Sheffield giving it the right to commercialise (through both the creation of spin-out companies and licensing) research, owned by the University, initially in the area of medical life sciences. This agreement was expanded in July 2008 to include all non-life science research-generated IP such as energy, engineering and electronics. Fusion has significant shareholdings in a portfolio of Sheffield University spin-out companies including Simcyp, Magnomatics, Diurnal and Phase Focus.

 

In January 2007, Fusion completed a ten year exclusive agreement with Cardiff University, also giving it the right to commercialise (through the creation of spin-out companies) Cardiff University's research-generated IP. Fusion has significant shareholdings in a portfolio of Cardiff

University spin-out companies including Mesuro, Abcellute, MedaPhor and Q-Chip.

 

On 2 December 2009, Fusion announced that it had raised approximately £3.2 million through a fund raising and that, as a result of its participation in such fund raising, IP Group plc ("IP Group") held approximately 19.8% of Fusion. Fusion has also entered into a Co-Investment Agreement with IP Group under which IP Group has the right to acquire, for cash, 20% of Fusion's equity in any new Fusion portfolio company. As Fusion normally owns 60% of any new portfolio company at start-up, IP Group's shareholding will normally equate to a 12% stake in the new portfolio company.

 

Fusion IP also has a Memorandum of Understanding with Finance Wales, the provider of commercial funding to Wales-based SMEs, which outlines a strategy of co-investment in opportunities arising from the Cardiff Agreement.

 

 

For further information please contact:

 

Fusion IP

+44 (0)114 275 5555

David Baynes / Tony Gardiner


Seymour Pierce

+44 (0)20 7107 8000

Freddy Crossley/Catherine Leftley


 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
BOAUVVWRRAARRRA