Tekcapital PLC (LON:TEK) is confident of posting revenues in the short term from commercialising its intellectual property (IP) portfolio.
The firm, which provides technology and IP services, is in formative stage and any revenues and fundraisings currently go towards further investment, such as growing customer numbers.
As such in the year to end November 2015, sales came in at US$407,420, compared to US$210,337 in 2014, while the loss before tax was US$1.45mln against a loss of US$993,569 in 2014.
Tekcapital's main operation allows clients to search its proprietary search engine, linked to over 4,000 universities so they can find and buy the IP, analytics and technology they need.
But, since January last year, it also has been buying licences to technology for its own portfolio, with the aim of commercialisation, which now amounts to 50 patents
In 2014 it bought InventionEvaluator, which assesses the commercial potential of new technologies and it has expanded the client base for the service and have added a direct sales team to the US office.
And yesterday, it announced a purchase in the technology transfer sector, specifically in the field of executive search, by acquiring the intellectual assets of Vortechs Group Inc in a deal valued at about £340,000.
The arena of technology transfer (the process by which emerging technologies are transitioned from academia to broader marketplace applications) is a key market for Tekcapital and the purchase offers valuable synergies.
Chief executive and chairman Clifford Goss said: "The directors remain confident that meaningful revenues will arise from our service offerings combined with the near-term sub-licensing or external funding of licenses held in its IP portfolio.
"With an increasing number of companies making ever faster and more disruptive use of innovative ideas sourced exogenously, and with patented university and corporate technologies an increasingly valued currency, the market opportunity for the group is both large and continuing to grow.
The firm ended the year with US$3.1mln in cash (2014:US$1.37mln).