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13/10/2011

Fusion IP reports a full-year profit and revenue up 35%

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Market: AIM
Sector: Technology Hardware & Equipment
EPIC: FIP
Latest Price: 52.50p  (1.94% Ascending)
52-week High: 77.50p
52-week Low: 21.50p
Market Cap: 38.24M
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Fusion IP
www.fusionip.co.uk

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.

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Fusion IP sees bright future for associate after first LED deal

1st Feb 2012, 8:35 am by Philip Whiterow Seren’s technology helps to increase the amount of light created at the very heart of a white high brightness LED.

Intellectual property group Fusion IP’s (LON:FIP) associate Seren Photonics has signed its first collaboration agreement for its LED technology.

Under the terms of the agreement, the unnamed LED products manufacturer has been granted exclusive rights to its technology for certain lighting applications in India.

The deal also gives the partner the option of a licence for manufacture of product incorporating Seren's processes.

Seren’s technology helps to increase the amount of light created at the very heart of a white high brightness LED.

Dr Godfrey Ainsworth, Seren's Chairman, said: "We estimate that the first sales of manufactured product, incorporating our technology, will start as early as 2013 and lead to an increasing royalty stream, as our partner brings our process in to full production and their own manufacturing capacity increases.”

Dr Ainsworth added that the agreement was the first of many it hopes to sign and that it was for just one for just one application in one territory in the world.

“We are already in discussions with a number of our manufacturers around the world and expect to see further agreements made in a number of territories in 2012/13," he added.

Fusion’s chief executive David Baynes added: “This is another great example of the value of the technology in our pipeline. Seren clearly has the potential to become an extremely valuable portfolio company and we look forward to more deals in the future.”

Fusion IP has a 48 % shareholding in Seren.

Yesterday, Fusion announced that 43% -owned Diurnal, a drug developer, had achieved a significant milestone in the progression of Chronocort, a replacement cortisol.

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