Allied Minds PLC Allied Minds & GE Ventures Form Strategic Alliance (1349L)
September 29 2016 - 1:00AM
UK Regulatory
TIDMALM
RNS Number : 1349L
Allied Minds PLC
29 September 2016
29 SEPTEMBER 2016
Allied Minds plc
Allied Minds and GE Ventures Form Strategic Alliance
Boston, Mass. -- September 29, 2016 - As announced earlier
today, Allied Minds plc (LSE: ALM) launched a strategic alliance
with GE Ventures (NYSE: GE) to jointly identify and commercialise
next-generation technologies. Under the terms of the agreement,
Allied Minds and GE Ventures agree to invest in new and existing
technologies sourced from both Allied Minds and GE's innovation
pipelines.
The strategic alliance expands Allied Minds' deep network of
research and development partners to include GE's leading early
stage technologies in healthcare, transportation, energy, and big
data. Allied Minds receives an exclusive right of first refusal to
license certain technologies, chosen by GE, which are of strategic
interest to the companies.
GE will have the opportunity to invest in select innovations
sourced from Allied Minds' network of over 160 university and
federal research partners. As part of the alliance, GE also
receives an option to participate in any future capital raise by
Allied Minds plc for at least 6% of the total raise, subject to
current pre-emption rights, applicable authorisations and
applicable law and regulations.
Each year, Allied Minds reviews thousands of intellectual
property ("IP") opportunities from some of the nation's best
universities and federal labs to identify innovations with the
potential to have a significant impact on commercial markets. If an
emerging technology passes its due diligence, Allied Minds forms,
funds, manages, and builds a subsidiary company that gives the
inventors and their institutions a stake in its success.
GE Ventures accelerates innovation and growth for its partners
by providing access to GE's cutting-edge technologies and an
extensive IP portfolio through licensing, technology transfer,
joint development, and other strategic business models. By bringing
together Allied Minds' commercialisation process and GE Ventures'
innovation expertise, the strategic alliance can leverage the
combined technology, marketing, fundraising, start-up development,
and management capabilities of the two entities.
- Ends-
For more information, please contact:
Allied Minds plc
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Chris Silva, Chief Executive
Officer +1 617 419 1800
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www.alliedminds.com
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Citigate Dewe Rogerson
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Patrick Donovan/Rob Newman +44 20 7638 9571
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alliedminds@citigatedr.co.uk
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Notes to Editors
About Allied Minds
Allied Minds (LSE: ALM) is a diversified holding company focused
on venture creation within the life science and technology sectors.
With unparalleled access to hundreds of university and federal labs
across the U.S., Allied Minds forms, funds, and operates a
portfolio of companies to generate long-term value for its
investors and stakeholders. Based in Boston, with nationwide
presence in Los Angeles and New York, Allied Minds supports its
businesses with capital, central management, and shared services.
For more information, please visit www.alliedminds.com.
Allied Minds Forward-Looking Statement
This press release contains statements that are or may be
forward-looking statements, including statements that relate to the
company's future prospects, developments and strategies. The
forward-looking statements are based on current expectations and
are subject to known and unknown risks and uncertainties that could
cause actual results, performance and achievements to differ
materially from current expectations, including, but not limited
to, those risk and uncertainties described in the risk factors
included in the company's regulatory filings. These forward-looking
statements are based on assumptions regarding the present and
future business strategies of the company and the environment in
which it will operate in the future. Each forward-looking statement
speaks only as at the date of this press release. Except as
required by law, regulatory requirement, the Listing Rules and the
Disclosure and Transparency Rules, neither the company nor any
other party intends to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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