www.amphionplc.com
Amphion builds shareholder value in high growth companies in the medical and technology sectors, by using a focused, hands-on company building approach, based on decades of experience in both the US and UK.
Amphion has a significant shareholding in 8 Partner Companies developing proven technologies targeting substantial commercial marketplaces, each in excess of $1 billion. Each Partner Company is chosen with the goal of achieving an exit valuation in excess of $100 million.
Amphion says DataTern restructuring will boost business
Amphion Innovations (LON:AMP) reported a sharp rise in losses as revenues from the intellectual property programme of subsidiary DataTern slumped in the first half. John Caruso has been appointed as the new chief executive of DataTern and he has recently completed a restructuring of the business.
"Our confidence in the fundamentals of the programme remains solid and Amphion should benefit from the more efficient and more predictable process now in place," the company said. The operating loss widened in the six months to June 30 to US$1.03 million from US$22,304 a year earlier as revenues tumbled to just US$1.63 million compared with US$4 million 12 months ago.
Amphion ended the first half with US$122,311 in cash.
Since then it has concluded one additional licensing deal for US$400,000.
This, combined with US$300,000 in additional short term loans from board members, has provided the cash required for the operation of the business and some capital to provide to its partner companies.
"However, the actions taken to restructure our IP licensing programme which together with some external factors reduced income in the first half have allowed us to take control internally of this key source of revenue," said chairman and chief executive Richard Morgan.
"These actions will significantly increase the contribution it will make to the group going forward. Following this restructuring, DataTern successfully concluded one non-exclusive license agreement in August."
Amphion nurtures small, high growth companies in the medical and technology sectors through to float.
It has significant shareholdings in eight partner companies and two specialised entities, developing proven technologies targeting substantial commercial marketplaces, each in excess of US$1 billion.
Each partner company is chosen with the goal of achieving an exit valuation in excess of US$100 million.
New IP licensing structure will increase profit margins from the strong pipeline of licenses under negotiation.
Ampion said partner company Kromek made “excellent progress” during the period, raising a further £12.3 million while completing the acquisition of California-based NOVA.
Meanwhile, molecular diagnostics firm Myconostica raised US$1 million and Amphion said Motif BioSciences attracted “significant interest” with its new approach to drug discovery.
