It is invested in seven partner medical and tech focused companies, aiming to grow their value but 2013 was another challenging year, it said.
"The bad economic climate of the last few years has demanded continued attention to the evolution of these business models so they can be adapted to a different and generally harsher market environment," it said.
"Although the pace of advance remains frustratingly slow, most of our partner companies continue to hold promise and are making progress."
A key development in 2013 was the float of imaging specialist Kromek, in which it holds a 10.6% stake, completed in early October. It raised £15 million before expenses, as targeted.
However, as reported previously, a set back came in March when Kromek said revenues for its year to end April would be "significantly below the market's expectations". Amphion believes howver the firm has an exciting future ahead.
This month the firm was granted a loan facility by an institutional lender to further its partner companies and its IP programmes.
It has already drawn down US$2 million with a further draw down facility of up to a maximum of US $10 million.
Richard Morgan, Amphion's chief executive said: "We and our advisors remain steadfast in our belief in the strength and validity of the DataTern patents. With the Appeals Court decision in hand and activity under way with that court to strengthen our hand, we expect to see some tangible progress in these programmes during the next six to twelve months.
"Although we remain cautious, the recovery in the stock market and the IPO market in particular has led to an improvement in the overall climate for our business. If conditions continue to improve, we believe we should start to see a recovery in the net asset value. Progress by Kromek will be a key driver of such a recovery but developments within DataTern and the other partner companies will be equally important."
The loss before tax in 2013 was US$6.385mln compared to a loss of US$6.94mln in 2012. Revenue was US$1.01mln (2012: US$1.39mln).