Frontier IP sees maturity spread across portfolio companies
Last updated: 13:57 14 Feb 2024 GMT, First published: 11:13 28 Apr 2021 BST
Snapshot
- Exscientia boss departs over relationships with employees
- Frontier IP portfolio company Alusid outlines 2024 plans after securing £1.1M in new funding
About the company
Frontier IP Group PLC unites science and commerce by identifying strong intellectual property and accelerating its development through a range of commercialisation services.
A critical part of the group's work is involving relevant industry partners at an early stage of development to ensure technology meets real world demands and needs.
The group looks to build and grow a portfolio of equity stakes and licence income by taking an active involvement in spin-out companies, including support for fund raising and collaboration with relevant industry partners at an early stage of development.
How it is doing
Nasdaq-listed Exscientia shares crashed by more than a fifth as the Oxford-based biotech fired its founder and chief executive over "inappropriate relationships" with two employees.
In a statement, the AI-focused drug developer said that Andrew Hopkins's behaviour was inconsistent with “the company’s standards and values”.
Hopkins has been removed from his role on the board effective immediately, with a special committee established and an outside counsel appointed to look into his behaviour.
Chairman David Nicholson resigned from the board two days ago after it was discovered he knew about one of Hopkins' relationships.
Alasdair Bremner, chief executive of Alusid, a portfolio company of Frontier IP Group PLC (AIM:FIPP), joined Proactive's Stephen Gunnion after the company raised £1.1 million, including £500,000 from Octopus Investments.
Bremner said the company will use the funding to expand its product range, including a new floor tile made from 98.5% recycled material, boasting one of the lowest carbon footprints in the market. Alusid's mass-produced product 'Principle', consisting of 91.3% recycled material, is already available nationwide. The company also plans to grow its team, focusing on international distribution to leverage global opportunities.
Frontier IP Group PLC (AIM:FIPP) portfolio company Alusid has secured £500,000 in funding from Octopus Investments through the Octopus AIM VCT and Octopus AIM VCT 2 funds.
This investment forms a part of a broader funding round which raised a total of £1.13 million which values tile specialist Alusid at £9.5 million.
What management says
Alasdair Bremner, chief executive, of Alusid, a portfolio company of Frontier IP Group PLC (AIM:FIPP), joined Proactive's Stephen Gunnion after the company raised £1.1 million, including £500,000 from Octopus Investments.
Bremner said the company will use the funding to expand its product range, including a new floor tile made from 98.5% recycled material, boasting one of the lowest carbon footprints in the market. Alusid's mass-produced product 'Principle', consisting of 91.3% recycled material, is already available nationwide. The company also plans to grow its team, focusing on international distribution to leverage global opportunities.
Bremner revealed plans for an IPO later this year, highlighting their scale production in Spain and Italy and a strong validation from Octopus Investments.