Portfolio Company - Tate & Lyle Contract

RNS Number : 1970T

Frontier IP Group plc

11 December 2012

 



AIM: FIPP

FRONTIER IP GROUP PLC

("Frontier IP" or "the Group")

Portfolio company signs licence agreement with Tate & Lyle

Frontier IP, which specialises in the commercialisation of intellectual property, is pleased to announce that its portfolio company, Nandi Proteins Limited ("Nandi"), has concluded a licence agreement for the use of its innovative protein technology with Tate & Lyle PLC ("Tate & Lyle"), the global provider of ingredients and solutions to the food and beverage sectors.  As reported on 6 November 2012, the conclusion of these licence terms will result in the payment of advisory fees to Frontier IP and is expected to result in an uplift in the valuation of Frontier IP's holding in Nandi, which is a spin-out company from Heriot Watt University in Edinburgh.

The agreement grants Tate & Lyle an exclusive worldwide licence to use aspects of Nandi's protein technology for food and beverage applications. Tate & Lyle will be responsible for developing the technology further for new food and beverage ingredients primarily relating to its texturant portfolio. 

Nandi's protein technology has wide-ranging application in the food sector and potentially beyond. The technology improves the functional properties of common proteins and in food and beverage applications can boost the textural attributes, or 'mouthfeel', of certain food products.

Neil Crabb, Chief Executive, commented,

"I am delighted to report that our portfolio company, Nandi, has concluded its licence agreement with Tate & Lyle. Tate & Lyle look for innovations that will lead to exciting new food and beverage ingredients and Nandi's technology offers this.  The agreement also reflects Nandi's strategy of developing partnerships with major industry players, which continues." 

Enquiries

Company website: www.frontierip.co.uk

Frontier IP Group Plc		T: 0131 220 9491
Neil Crabb, Chief Executive
Seymour Pierce Ltd (Nominated Adviser and Joint Broker)		T: 020 7107 8000
Guy Peters / Julian Erleigh - Corporate Finance
David Banks / Paul Jewell - Corporate Broking
Peterhouse Corporate Finance Limited (Joint Broker)		T: 020 7469 0935
Jon Levinson / Lucy Williams
Biddicks		T: 020 3178 6378
Katie Tzouliadis

Notes to Editor:

Frontier IP Group Plc ("Frontier IP")specialises in the commercialisation of Intellectual Property.  It establishes partnerships with individual universities and research institutions to assist with their spin-out and licensing activities and helps to maximise the commercial value of technologies emerging from their research programmes.

Nandi Proteins Limited ("Nandi") is a sales, marketing, IP and licensing company spun out of Heriot Watt University, Edinburgh in 2001. The company was established to exploit patented process technology and know how to improve the functional properties of common proteins such as whey, egg and soy. The company's objective is to become a market leader in the field of denatured protein technology. Denatured egg and dairy proteins are currently being produced on a factory scale and have been successfully used in applications by major companies in the food industry.

Tate & Lyle PLC ("Tate & Lyle") is a global provider of ingredients and solutions to the food, beverage and other industries, operating from over 30 production facilities around the world.  Tate & Lyle operates through two global business units, Speciality Food Ingredients and Bulk Ingredients, supported by Innovation and Commercial Development. The Group's strategy is to become the leading global provider of Speciality Food Ingredients through a disciplined focus on growth, and by driving the Bulk Ingredients business for sustained cash generation to fuel this growth.

Speciality Food Ingredients include starch-based speciality ingredients (corn-based speciality starches, sweeteners and fibres), no calorie sweeteners (including SPLENDA^® Sucralose) and Food Systems which provides blended ingredient solutions. Bulk Ingredients include corn-based bulk sweeteners, industrial starches and fermentation products (primarily acidulants). The co-products from both divisions are primarily sold as animal feed.

 

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