---

---

---

---

Science Current Events and Science News RSS Feeds

---

---

Email a Friend Printer Friendly

Techtran raises £2 Million with IP2IPO in strategic investment deal

July 19, 2004

University technology transfer specialist Techtran Group (Techtran), is pleased to announce a £2,000,000 investment from intellectual property company IP2IPO.

The deal sees AIM-listed IP2IPO receive 20 per cent equity share in the Techtran business in return for the investment. In addition, IP2IPO Chief Executive David Norwood will take a place on the Techtran Board as Non-Executive Director. The funding will be used to boost commercialisation of intellectual property at the University of Leeds, which appointed Techtran to manage its technology transfer operations in 2002.

Techtran's business model is based on offering outsourced technology transfer services to research-intensive universities. Its groundbreaking long term contract with the University of Leeds saw the first university in the UK outsource its commercialisation activities. Under the terms of the contract, Techtran receives a 30 per cent interest in spinout companies created and technology licences negotiated in return for its services at the University, and has to date acquired significant interests in 15 University of Leeds spinout companies.

IP2IPO is an intellectual property company that commercialises university technology. It already has strong connections with the Yorkshire region: in November 2003, it announced a partnership with CNAP, the flagship genomics research centre within the University of York that focuses on plant and microbial gene discovery. It also has partnerships with the Universities of Oxford, Southampton and Kings College London. IP2IPO was listed on AIM in 2003.

Techtran Chief Executive Officer, Alan Aubrey said:
"This investment marks a major milestone for Techtran. It is a testament to the quality of the research base and the success of our relationship with the University of Leeds and provides us with an improved platform from which to grow our operations. In IP2IPO, we could not have found an investor who understands our business better and as a result there is enormous scope for the two companies to develop and prosper together."

David Norwood, Chief Executive Officer of IP2IPO said:
"I am delighted that IP2IPO has taken a 20% strategic stake in Techtran. IP2IPO has known Techtran since its formation and there is a clear strategic fit between the two companies. The Techtran team broke new ground when it became the first group to take over the outsourced management of a university technology transfer office and since then it has established a strong process for creating value from the intellectual property assets of the University of Leeds. Now, as shareholders in the Techtran business, we look forward to sharing in the value."

Techtran Group Ltd