New spin-out company
AIM: FIPP
Frontier IP Group plc
("Frontier IP" or "the Company")
New Spin-out Company - Cambridge Simulation Solutions Limited
Frontier IP, which specialises in the commercialisation of university intellectual property, is pleased to announce that it has received a stake in Cambridge Simulation Solutions Ltd ("Cambridge Simulation"), a spin-out company from the Department of Chemical Engineering and Biotechnology at the University of Cambridge (the "Department").
Frontier IP has entered into an agreement with Cambridge Simulation in which it provides advisory and business development services in return for which it has received a 40% equity stake in the new spin-out. Cambridge Simulation has been formed to exploit the technology developed by Dr. Vassilios Vassiliadis, a Senior Lecturer at the Department. Dr. Vassiliadis has developed a method to simulate and control complex chemical processes and Frontier IP's role will be to support the licensing and commercialisation of this technology, which potentially has a wide range of commercial applications in industry, including the food and pharmaceutical sectors.
The Department of Chemical Engineering and Biotechnology at the University of Cambridge is a leading global research department, with Chemical Engineering ranked the best in the world outside the US and 4th in the world including the US (QS World University Rankings by Subject 2014). Working effectively with industry is a core strength of the Department, as is progressing novel technologies through spinout companies and licensing agreements to ultimate launch of marketed products.
Neil Crabb, Chief Executive of Frontier IP, said,
"This collaboration with Dr. Vassilios Vassiliadis represents an exciting new opportunity for Frontier IP. We have in-depth experience in commercialising IP and we look forward to working with Dr. Vassiliadis and the Department of Chemical Engineering and Biotechnology at the University of Cambridge to maximise the potential of the existing and the upcoming IP."
Dr. Vassiliadis, said,
"The aim of Cambridge Simulation is to produce a rapid integrator engine suitable for a range of applications and industries, including Chemical Engineering, Biotechnology, Biomedical, Pharmaceuticals, Aerospace and Microelectronics. I'm delighted to be entering into this collaboration with Frontier IP."
Professor Nigel Slater at the Department of Chemical Engineering and Biotechnology at the University of Cambridge, said,
"The Department of Chemical Engineering and Biotechnology at the University of Cambridge fuses leading-edge biotechnology research with chemical engineering skills within an ethos of commercial awareness and exploitation. Broadly, our research strategy targets sustainable reaction engineering, product engineering and healthcare and the Department's activities are structured to provide novel solutions to these challenges. I welcome the launch of this company, as an example of the Department's innovative spirit in tackling the issues of our time."
Enquiries
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Frontier IP Group Plc |
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T: 0131 240 1251 |
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Neil Crabb, Chief Executive |
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Company website: www.frontierip.co.uk
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Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker) |
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T: 020 7894 7000 |
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Mark Percy / Catherine Leftley, Corporate Finance |
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David Banks / Paul Jewell, Corporate Broking |
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Peterhouse Corporate Finance Limited (Joint Broker) |
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T: 020 7469 0935 |
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Jon Levinson / Lucy Williams |
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KTZ Communications |
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T: 020 3178 6378 |
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Katie Tzouliadis / Deborah Walter |
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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. www.frontierip.co.uk.
This information is provided by RNS
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