Amphion Innovations partner PrivateMarkets appoints new sales director

Healthcare and technology investor Amphion Innovations (AIM: AMP) announced that its partner company PrivateMarkets has appointed a new director of sales, Jeff Evans. In the role, Evans will support the company as it refines it sales approach in the electric power industry. The PrivateMarkets software platform enables structured bilateral physical-commodity trading.

"Jeff brings important experience in the power industry that will immediately improve our responsiveness and ability to reach out, especially in the ERCOT market", PrivateMarkets CEO Chris Sanders stated. "We are beginning our next phase of growth and it is important that we improve our ability to provide outstanding account management services to our customers". ERCOT stands for Electric Reliability Council Of Texas. It is one of eight Independent System Operators in North America, and is the successor to the Texas Interconnected System.

Evans will be based in Houston, Texas. The newly appointed director has over 20 years of experience in the energy industry. Evan also has experience in the technology sector, he was previously regional manager for Global View Software and he has held a variety of positions with companies such as Platts, ICIS, and Gulf Publishing.

PrivateMarkets’ internet-based platform links a network of potential buyers and sellers, who trade specific physical commodities.  The product enables traders to instantaneously create a "mini-market" where others that they select can vie competitively for their business.

"Their product is innovative and will become a standard in the industry. I look forward to spearheading a new customer-oriented approach to ensure that our customers receive the solution they require and the support they need to make using the system easy and beneficial", Evans commented.

Amphion specialises in high-growth medical and technology sectors investment, Currently, Amphion has significant shareholdings in 8 partner companies, each of whom are developing proven technologies targeting substantial commercial marketplaces, each in excess of US$1 billion.

Each partner company aims to achieve a target exit value in excess of US$100 million.  The Amphion model has been refined to optimise the commercialisation of patents and other intellectual property within the partner companies.  The partner companies collectively own or control over 200 separately identified pieces of intellectual property, a number which grows rapidly each year.

Last week, London-based stockbroker Charles Stanley said that Amphion is well positioned should IPO markets open-up later this year. Analysts at Charles Stanley highlighted two key milestones in 2009 which set the ground for a potentially very successful 2010.

First, Amphion’s subsidiary, DataTern, signed 14 additional non-exclusive agreements in 2009 taking the total licensing deals to 18, which lifted revenues by 39% in 2009 to US$7.6 million, which was a crucial revenue generator for the business. Second, the company had managed to raise £5.6 million of a possible £7 million from convertible promissory notes which allowed it to continue investing in its partner companies.

Amphion’s Kromek and WellGen partner companies are considered to be leading IPO candidates in 2010, the broker added.

Kromek is Amphion’s largest technology investment, which continues to make significant progress with its digital x-ray detection technology. WellGen recently launched its first consumer products and announced important pre-clinical progress for its leading product for the management of diabetes.