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Technology transfer company established by Imperial College London to float on the Alternative Investment Market of the London Stock Exchange ("AIM") (the "Flotation")


See also...
External Sites:
-Imperial Innovations
(Imperial College is not responsible for the content of these external internet sites)

For immediate release
Thursday 20 July 2006

Imperial Innovations Group plc ("Imperial Innovations" or the "Company"), the technology commercialisation company majority owned by Imperial College London, has today published a prospectus in connection with the admission of its ordinary shares to trading on AIM. At the same time, the Company has raised gross proceeds of £25 million from an institutional placing conditional on admission and expects to raise further gross proceeds of up to £1.5 million from an offer of its ordinary shares to the public. The flotation of Imperial Innovations (the "IPO") will be the first undertaken by a majority university-owned technology transfer company in the UK.

The Company intends to list its ordinary shares on AIM at a price of 365 pence per ordinary share. At that price, Imperial College's shareholding in Imperial Innovations will be worth over £100 million.

Imperial College and Imperial Innovations' staff and the public will have the opportunity to take part in the IPO at the same price as institutional investors, 365 pence per ordinary share, through the Public Offer. The Public Offer will close at 11am on 27 July 2006, with trading in the Companys ordinary shares expected to commence at 8:00am on 31 July 2006.

Imperial Innovations was established by Imperial College in 1986 with the aim of realising the commercial potential of research conducted at Imperial College. Imperial Innovations has the right (subject to certain exceptions) to commercialise the unencumbered intellectual property developed within Imperial Colleges research departments until 2020. As at 20 April 2006, Imperial Innovations had equity holdings in 58 spin-out companies and has concluded over 100 intellectual property agreements arising from the Colleges research activity.

Imperial Innovations believes that the funds raised through the IPO should enable Imperial Innovations to invest to a greater extent in the commercial exploitation of the array of intellectual property that is created in Imperial College.

Sir Richard Sykes Opens in new window, Rector of Imperial College, said:

"Our universities are powerhouses of innovation and it is vital for the UK's economy that we get our best ideas out of the laboratory and into the marketplace quickly. Imperial College is world renowned for carrying out leading edge research, and Imperial Innovations has a track record of making this research commercially viable. The flotation will provide Imperial Innovations with the capital to go on to develop its business further and that in turn will feed back into developing the College's intellectual property."

ENDS

For more information contact:

Abigail Smith
Imperial College London Press Office
Tel: +44 (0)20 7594 6701
Mob: +44 (0)7803 886248
Email: abigail.smith@imperial.ac.uk

Notes to editors:

About Imperial College London

Consistently rated in the top three UK university institutions, Imperial College London is a world leading science-based university whose reputation for excellence in teaching and research attracts students (11,000) and staff (6,000) of the highest international quality.
Innovative research at the College explores the interface between science, medicine, engineering and management and delivers practical solutions that enhance the quality of life and the environment - underpinned by a dynamic enterprise culture.
Website: www.imperial.ac.uk

The contents of this communication, which have been prepared by and are the sole responsibility of Imperial College, have been approved solely for the purposes of section 21(2)(b) of the Financial Services and Markets Act 2000 by JPMorgan Cazenove Limited of 20 Moorgate, London EC2R 6DA ("JPMorgan Cazenove").

JPMorgan Cazenove, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Imperial Innovations and for no one else in connection with the IPO and the related institutional placing and public offer of Imperial Innovations ordinary shares, and will not regard any other person as its customer in relation to those matters and will not be responsible to anyone other than Imperial Innovations for providing the protections afforded to clients of JPMorgan Cazenove or for providing advice in relation to those matters. JPMorgan Cazenove is not making any representation or warranty, express or implied, as to the contents of this communication.

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