25 May 2012

Fusion agrees £5m placing

08/11/2011 Miles Nolan

University IP commercialisation specialist Fusion IP (FIP) has raised £5 million at 28p a share, with existing and new institutions.

Fusion IP has the exclusive rights to 100 per cent of the university owned research which is developed at both Sheffield University and Cardiff University. Such relationships have enabled Fusion IP to help translate academia to more commercial applications.

Two years ago it secured the backing of rival IP Group, when it pumped in £3.2 million for a near 20 per cent stake in the AIM counter. Fusion IP has over 20 companies in its portfolio, employing almost 250 staff - with investments spanning alternative energy and drug discovery through to engineering.

As the value of the portfolio grows, Fusion IP is confident of its ability to deliver its first realisation - indeed, one is currently under discussion. In the year to July it achieved a 35 per cent hike in sales ot £5.9 million, resulting in a £1 million pre-tax profit (2010: £1.6 million loss).

The new capital will allow Fusion IP to provide funding for the technology which is being developed at both Universities, as well as providing the working capital required to participate in future financing rounds. The shares have edged up 0.5p to 39p on the news. For a balanced portfolio of investments, in a profitable business, Fusion IP is worth a look.

Tags: AIM market, Cardiff University, Seymour Pierce, Sheffield University, University spin-outs

Sector: Pharmaceuticals & Biotechnology

Companies: Fusion IP

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