Investment in Theragenetics
IP2IPO Group PLC
07 April 2006
For immediate release 7th April 2006
IP2IPO Group plc
Investment in Theragenetics Limited
A Personalised Medicine Spin-out Company from King's College London
IP2IPO Group plc (AIM: IPO) ('IP2IPO' or 'the Company'), the intellectual
property commercialisation company, is pleased to announce that it has invested
£390,000 for a 48% stake in Theragenetics Limited ('Theragenetics'), a
pharmacogenetic diagnostics spin-out company from the Institute of Psychiatry,
King's College London. The investment is part of a seed capital round of
£440,000, with co-investment of £50,000 from Kinetique Biomedical Seed Fund.
Theragenetic's underlying science has been developed over many years by
Professor Rob Kerwin, Dr Maria Arranz and Dr Janet Munro from the Institute of
Psychiatry, King's College London. Theragenetics will develop and commercialise
pharmacogenetic diagnostic tests to help guide and improve the treatment of
schizophrenia and other disorders. The founding academics have a successful
track record of translating their personalised medicine research into the
commercial setting, and have also worked extensively with major pharmaceutical
companies in designing clinical studies for antipsychotics.
Commenting on today's announcement, Alan Aubrey, IP2IPO's Chief Executive, said:
'We believe that the high reputation enjoyed by the Institute of Psychiatry at
King's is well justified and are very pleased to be establishing what will be
our first spin-out company from the School. Theragenetics is addressing a large
and important market and we consider that it has the potential to make a
significant impact.'
Alison Campbell, Managing Director of King's College London Enterprises, said:
'Through the formation of Theragenetics we are able to bring together basic and
clinical research and accelerate its development for direct patient benefit.'
Professor Rob Kerwin, one of the academic founders of Theragenetics, said: 'This
is a good example of translational medicine. It is very exciting to have
established Theragenetics to develop our research findings into clinical
utility.'
For more information please contact:
IP2IPO Group plc 020 7489 5200
Alan Aubrey, Chief Executive Officer
Buchanan Communications 020 7466 5000
Tim Anderson, Mark Court, Mary-Jane Johnson
Theragenetics Limited
Professor Rob Kerwin 020 7848 0727
King's College London Enterprises 020 7848 6795
Alison Campbell, Managing Director
Notes for editors
IP2IPO is an intellectual property (IP) company that specialises in
commercialising university technology. The Company was founded in 2001 and
listed on the AIM Market of the London Stock Exchange plc in October 2003.
IP2IPO's first partnership was with the University of Oxford. In return for an
investment of £20 million, IP2IPO has acquired 50 per cent of the University of
Oxford's equity in spin-out companies and technology licenses based on
intellectual property created at the Chemistry Department until 2015. In
November 2003, IP2IPO created a £5 million seed capital fund for investing in
spin-out companies across the University of Oxford, not just those originating
within the Chemistry Department.
In March 2002, IP2IPO entered into a second long-term partnership with the
University of Southampton. Under the terms of this partnership, IP2IPO is
committed to working with the University of Southampton in the identification
and facilitation of spin-out companies from across the University of Southampton
and to investing £5 million in early-stage University of Southampton spin-out
companies over a four year period in return for equity stakes in those
companies. In addition, IP2IPO also received a 20 per cent stake in Southampton
Asset Management Limited, a company that has been formed to hold the
University's equity stakes in its spin-out companies. The partnership has a term
of at least 25 years.
IP2IPO entered into its third long-term partnership in May 2003 with King's
College London. IP2IPO works with King's College London to help identify and
progress commercialisation opportunities as well as invest £5 million in seed
capital in spin-out companies from King's College London over a five year period
in return for equity stakes in those companies. In addition, IP2IPO receives 20
per cent of King's College London's equity in spin-out companies and technology
licenses. The partnership has a term of 25 years.
In October 2003, IP2IPO announced a fourth partnership with the Centre for Novel
Agricultural Products ('CNAP'), based at the University of York. CNAP is a
flagship research centre that specialises in plant and microbial gene discovery.
Under the terms of the partnership a new company, Amaethon Limited, has been
created which has the right to commercialise CNAP's IP for 25 years. IP2IPO has
invested £1.15m in Amaethon Limited in return for a 40 per cent. equity stake in
Amaethon Limited (the remaining equity being owned by the University of York)
and will also invest in the spin-out companies based on CNAP's IP which Amaethon
Limited creates.
In June 2004, IP2IPO acquired Top Technology Ventures Limited, an investment
adviser to early stage technology funds. This combines IP2IPO's expertise in the
creation of new ventures based on world leading university IP with Top
Technology's focus on making early stage venture capital investments.
In January 2005, IP2IPO acquired Techtran, a company set up in 2002 to
commercialise university intellectual property under a long-term technology
commercialisation contract with the University of Leeds. Under the terms of the
contract Techtran receives a significant (30 per cent.) interest in spin-out
companies created and technology licences negotiated, in return for the
provision of technology transfer services to the University.
In May 2005, IP2IPO announced the launch of Modern Biosciences, which will
in-license life science intellectual property created by medical researchers at
universities with which IP2IPO already has partnerships, other universities in
the UK and similar academic and charitable research institutions. Modern
Biosciences' objective is to further develop the intellectual property which it
in-licenses with a view to creating substantial value either by subsequently
licensing these development programmes to the pharmaceutical industry or via the
creation of new ventures.
In December 2005, IP2IPO entered into its sixth long-term partnership with the
University of Bristol. IP2IPO will work with the University of Bristol to help
identify and progress commercialisation opportunities as well as invest an
initial £5 million in seed capital in spin-out companies from the University of
Bristol over a five year period in return for equity stakes in those companies.
In return, IP2IPO will receive 13.3 per cent of equity spin-out companies from
the University of Bristol at the time that the spin-out company is established
prior to investment. The partnership has a term of 25 years.
In February 2006, IP2IPO entered into its seventh long-term partnership with the
University of Surrey. IP2IPO will work with the University of Surrey to help
identify and progress commercialisation opportunities as well as invest an
initial fund of up to £5 million in seed capital in spin-out companies from the
University of Surrey in return for equity stakes in those companies. In
addition, IP2IPO will receive 13.3% per cent of in spin-out companies at the
time that the company is established prior to investment. The partnership has a
term of 25 years.
In March 2006, IP2IPO entered into an exclusive long-term partnership with the
University of York. The partnership is in addition to IP2IPO's current
partnership with the Centre for Novel Agricultural Products, IP2IPO will work
with the University of York to help identify and progress commercialisation
opportunities as well as invest an initial fund of £5 million in seed capital in
spin-out companies from the University of York in return for equity stakes in
those companies. In addition, IP2IPO will receive 25% of the equity in any
spin-out company from the University at the time that the company is
established, prior to investment, if IP2IPO invests in the company from the fund
and 15% of the equity if it does not invest from the Fund. IP2IPO will also
receive 10% of any income which the University of York receives from licencing
during the lifetime of the partnership. The partnership has a term of 25 years.
To date, 6 spin-out companies from the IP2IPO portfolio have listed on the AIM
Market of London Stock Exchange plc: Offshore Hydrocarbon Mapping plc, Synairgen
plc, VASTox plc, Proximagen Neuroscience plc, GETECH Group plc and Syntopix
Group plc. There has been one trade sale: Toumaz Technology Limited was sold to
Nanoscience Inc.
For more information please visit www.ip2ipo.com
King's College London is one of the two oldest and largest colleges of the
University of London with over 13,800 undergraduate students and nearly 5,700
postgraduates in ten schools of study. It is a member of the Russell Group: a
coalition of the UK's major research-based universities. The College has had 24
of its subject-areas awarded the highest rating of 5* and 5 for research
quality, demonstrating excellence at an international level, and it has recently
received an excellent result in its audit by the Quality Assurance Agency.
King's is in the top group of UK universities for research earnings, with income
from grants and contracts of £100 million, and has an annual turnover of more
than £348 million. In 2004 the College was once again awarded an AA- financial
credit rating from Standard & Poor's.
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