IP Group – Portfolio Company Oxford Nanopore Completes £17.4m Fundraising
01 Feb 10
IP Group plc (LSE: IPO) (“IP Group” or the “Company” or “Group”), the intellectual property commercialisation company, is pleased to note that portfolio company Oxford Nanopore Technologies Ltd ("Oxford Nanopore"), a spin-out company from the University of Oxford, has successfully completed a £17.4 million fundraising. Oxford Nanopore is developing a new, electronic, single molecule analysis technology whose lead application is DNA sequencing.
Following completion of the financing round, IP Group’s beneficial stake in Oxford Nanopore, is 24.6%, valued at £25.6 million, compared with 28.8% previously. The funds were raised from existing investors, including Illumina UK Ltd, Lansdowne Partners and Invesco Perpetual, and new undisclosed US institutional investors. The fundraising will result in a fair value gain to IP Group of £2.2 million.
Oxford Nanopore has previously raised £32 million since its formation in 2005.
The proceeds from this £17.4 million fundraising will be used for further development of Oxford Nanopore’s proprietary platform technology, which uses real-time electronic measurement of current through small holes (nanopores) to identify molecules of interest as they pass through or near the nanopore. In addition to the development of common elements of the platform technology, funding will be directed to its lead project in DNA sequencing and new early work in protein analysis.
Oxford Nanopore’s lead application is DNA sequencing. In contrast to current optical DNA sequencing systems, its nanopore method is electronic and label-free. This eliminates the need for fluorescent labels and optical hardware for a potential step-change in speed, cost and versatility.
The Bulletin, Broadgate Mainland's media update
A round up of client highlights and news in week commencing 08/02/2010 Please make enquiries and feedback to Anna Taylor, editor of The Bulletin
11 February: National Skills Academy for Financial Services South West Employer Conference 2010 - email nsafs@broadgatemainland.comfor information.
24 February: The Broadgate Mainland Winter Party - email the editor to RSVP.
2-10 March: Unique Boutiques - fund managers from Baillie Gifford, Cavendish Asset Management, Liontrust ,SVM and Pictet will be presenting at the Unique Boutiques Conferences around the country. Visit www.uniqueboutiques.co.ukfor further details.
Commenting on The Pensions Regulators announcement on proposed tougher penalties for poor record keeping last week, Paul Latimer, partner at Barnett Waddingham says: “Trustees must keep in mind that regular reporting on record keeping and any resulting data cleansing exercises will come at a cost at a time when there are already many other financial pressures.The Pensions Regulator has commented that this will be money well spent but trustees will need to ensure they understand why such exercises are required and that they are getting value for money.”
Jupiter Asset Management has appointed John Chatfeild-Roberts as chief investment officer. Since 2000, Edward Bonham Carter has combined the CIO role with his work as chief executive officer. John, who has 20 years’ experience as a fund manager, will take on the role from 3 February 2010. His position as head of the Jupiter Merlin Fund of Funds team will remain unchanged. As CIO, John will be responsible for maintaining Jupiter’s reputation as a high alpha investment house - nurturing its investment talent and leading the company’s investment managers. John Chatfeild-Roberts said: “I am excited to have been given the chance to lead the team as CIO and contribute further to the company’s development, whilst continuing to manage the Jupiter Merlin funds with my colleagues, Peter Lawery and Algy Smith-Maxwell.”
Andy McCarthy, client development director at Creative Benefit Solutions, has strongly urged employers to set up their own pension scheme ahead of the introduction of NEST (National Employment Savings Trust) in 2012. Mr McCarthy says: "Employers need to be aware that the majority of their employees will be part of any scheme set up under NEST and this could be a massive cost to the company. Employers should spend their money wisely and set up their very own pension scheme for employees. This way they will be spending their money on a scheme that will work better for both the company and its employees." NEST is due to come into effect from 2012, and will put in place pensions provision for millions of low to moderate earners who are not currently saving.
A new report from Baker Tilly, Outlook 2010 – Still crystal ball gazing? singles out the following challenges for the not-for-profit sector in the coming year:- - An anticipated shortfall in government funding post-election - Seeking out additional funding and increasing fundraising activity - Planning ahead whilst dealing with current challenges
However, there are some potential opportunities for the sector as found in Baker Tilly’s 2009 charities survey: -Forming alliances and mergers to potentially reduce costs - An opportunity to review services offered as well as fundraising programmes - An opportunity to review and renegotiate existing contracts
Glendevon King, the London-based asset management company specialising in Fixed Income investments, announces that the recently launched MFM Glendevon King Global Bond Fund is now available on the Transact Platform. The MFM Glendevon King Global Bond Fund is managed by Nicola Marinelli and Peter Baum. The fund invests across the Fixed Income spectrum, but will focus on relative value opportunities in Corporate, Government and Financial bonds.
BNY Mellon, the global leader in asset management and securities servicing, has announced the launch of an enhanced version of its Interactive Flow Monitor (iFlow) service. Incorporating the best features of BNY Mellon Global Markets’ capital flow research services, this new fully integrated version of iFlow accesses a significantly expanded underlying capital flows data base. It also includes upgraded analytics and enhanced user interface features and functionalities.
The Mansion Group says that investors in student property should not be worried about the university spending cuts recently announced by Lord Mandelson. Mark Stubbs, director of business development at The Mansion Group, says: “Student accommodation as an asset class is driven by supply and demand; there is a huge imbalance in the quantity of accommodation available to students. Figures for the 2010/11 academic year from UCAS highlight an increase of 12% in the number of people applying to UK colleges and universities and the recent devaluation of sterling has resulted in much lower costs for international students thereby fuelling further demand for places. The credit crunch has also put on hold many developers’ plans to build new accommodation due to a lack of funding. Supply will therefore be curtailed for longer as there will be limited new stock coming on stream in the next few years.” For the full release, please visit www.broadgatemainland.com/index.cfm/media/
Broadgate Mainland nominated for UK Pensions Award Broadgate Mainland has been nominated for ‘Communications Provider of the Year’ at the UK Pensions Awards 2010. Roland Cross, director, Broadgate Mainland, says: “We are thrilled to have been nominated for this award. As the only PR agency to win the award more than once, the nomination stands as a tribute to the experience and excellence of the team at Broadgate Mainland. Along with the nomination of five of our clients, we look forward to the award ceremony in April." The winners will be announced at a ceremony to be held at London's Grosvenor House Hotel on 20 April 2010. For more details and to view the list of nominees please visit http://web.incisive-events.com/inv/2010/04/uk-pensions-awards/shortlist.html
Milton Park will be at the Milton Park Innovation Centre , 99 Milton Park ,OX14 4RY on Wednesday February 17th 9.00am - 10.30am
This month's event will include the presentation
"Welcoming your Customers - do they feel like VIPs or do they have to park by the wheelie bins?"
Claire Thirlwall of Chartered Landscape Architects Thirlwall Associates will help us look at how we welcome our customers to our premises and how small changes can have a huge impact. There will also be help for those who work from home on how to organise customer meetings.
You can book ahead and appear on the guestlist ( cut-off 10am Tuesday) or simply turn up on the day.Either way the entry fee of £10 ( including light refreshments ) is payable at the door.
