Fusion IP
Fusion IP owns the rights to 100% of the university-owned research generated at two of the UK's leading universities – The University of Sheffield and Cardiff University. These exclusive partnerships enable us to invest in some the world's most advanced and exciting science, turning world class research into business through the creation of a growing portfolio of companies, in fields as varied as drug discovery, alternative energy and engineering.
Fusion IP secures £0.8 million licensing deal for University of Sheffield orthopaedic planning software
University commercialisation company Fusion IP (AIM: FIP) has licensed orthopaedic planning software developed by the medical physics team at the University of Sheffield to a global orthopaedic company in a £0.8 million deal.
According to the agreement signed with the University last year, Fusion IP has the right to license out any of its IP (intellectual property), receiving half the net income, thus receiving £0.4 million in a one-off license fee income from the deal.
Fusion expressed hopes the deal was “first of many” in Sheffield, reiterating its target of fully covering its ongoing overheads with from license income by 2011/12.
“This demonstrates that this is an achievable target....this licence deal demonstrates the value of our pipeline and endorses our ability to extrapolate real value from university research,” said Chief Executive of Fusion IP David Baynes.
Fusion IP has exclusive network agreements with the University of Sheffield and the Cardiff University, owning the rights to 100% to the university-owned research generated at these schools. Under the agreements, the universities continue to identify IP with commercial potential and patent appropriate IP disclosures, such that Fusion can select the IP with the greatest commercial potential.
The company raised £3.2 million earlier this month through a proposed subscription by its cornerstone investor IP Group (LSE: IPO) to fund the spin out of its portfolio companies.
Fusion IP currently has a portfolio of 20 active spin-out investments, expecting to spin out up to three new businesses in the period to July 2010 with further spin outs expected in 2011 and 2012.
Shares in the company rose 1.5% to 33.50 pence on the news.
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Other Fusion IP articles
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10/02/10 Fusion IP spins out LED business from Sheffield University
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08/02/10 Fusion IP spins out cartilage therapy business from Cardiff Uni partnership
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09/11/09 Fusion IP raises £3.2 million through share placement, IP Group participates
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16/02/09 Fusion IP: commercialising the next big thing
Other Fusion IP news
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01/02/10 David Baynes, CEO of Fusion IP, talks about their projects with Simcyp, Magnomatics and others
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28/01/10 Fusion IP reveals new Cardiff Uni spin-out to commercialise laparoscopic surgical devices
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22/12/09 Fusion IP's Mesuro stake now at 49%, gets £0.6 million valuation uplift
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11/12/09 Fusion IP contributes £75,000 of total £190,000 new investment in ultrasound training device maker MedaPhor
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07/12/09 Fusion IP invests £300,000 in drug delivery group Diurnal from Sheffield University
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04/12/09 Fusion IP Investee Morvus raises £2.15 mln and Inks ProTide Licensing Agreement with NuCana BioMed
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03/12/09 Fusion IP calls shareholder IP Group’s Alison Fielding to the board
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13/11/09 Fusion IP Receives Further Investor Support as Institutions Increase Holdings
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26/10/09 Fusion IP’s Simcyp makes Business XL’s 50 fastest growing companies list
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25/08/09 Fusion IP investment Magnomatics secures contract with MoD to advance Magnetic Propulsion