Touchstone Innovations PLC Innovations invests £2.9m in Abzena placing (0013D)
April 21 2017 - 5:21AM
UK Regulatory
TIDMIVO TIDMABZA
RNS Number : 0013D
Touchstone Innovations PLC
21 April 2017
21 April 2017
Touchstone Innovations plc
Innovations invests GBP2.9m in Abzena placing
Touchstone Innovations plc (AIM: IVO, 'the Group',
'Innovations') has invested GBP2.9 million in the GBP25.0 million
Placing of portfolio company Abzena PLC ('Abzena' or the 'Company')
which completed earlier today, following the passing of the
required Resolutions at the Company's General Meeting.
Innovations first invested in Abzena (formerly Polytherics) in
2007 having led a GBP2.3 million investment round into the Company.
Prior to the Placing Innovations held a 19.7 per cent. of the
voting rights attached to the issued share capital of Abzena.
Following the Placing this holding is now 16.9 per cent.
Russ Cummings, CEO of Touchstone Innovations, said:
"We continue to be enthusiastic supporters of Abzena and are
pleased to take part in this placing which will give the company
the firepower it needs to capitalise on the growing international
demand for its proprietary technologies and services.
"We are delighted by the investor support for this Placing and
the broadening of Abzena's share register."
For further information contact:
Touchstone Innovations plc 020 3053 8834
Russ Cummings, Chief Executive Officer
Jon Davies, Director of Communications
Instinctif Partners 020 7457 2020
Adrian Duffield/Melanie Toyne-Sewell/Chantal
Woolcock
J.P. Morgan Cazenove (Nominated Adviser) 020 7742 4000
Michael Wentworth-Stanley/Alec Pratt
RBC Capital Markets 020 7653 4000
Darrell Uden/Marcus Jackson/Laura White
About Touchstone Innovations - www.touchstoneinnovations.com
Touchstone Innovations plc (formerly Imperial Innovations Group
plc or just "Innovations") creates, builds and invests in
pioneering technology companies and licensing opportunities
developed from outstanding scientific research from the 'Golden
Triangle', the geographical region broadly bounded by London,
Cambridge and Oxford.
This area has an unrivalled cluster of outstanding academic
research and technology businesses, and is home to four of the
world's top 10 universities, as well as leading research
institutions, the cream of the UK's science and technology
businesses and many of its leading investors.
Innovations supports scientists and entrepreneurs in the
commercialisation of their ideas through protecting and licensing
out intellectual property (through its Technology Transfer
subsidiary, Imperial Innovations), by leading the formation of new
companies, by recruiting high calibre management teams and by
providing investment and encouraging co-investment. Innovations
remains an active investor over the life of its portfolio
companies, with the majority of Innovations' investment going into
businesses in which it is already a shareholder.
Since becoming a public company in 2006, Innovations has raised
more than GBP440 million of equity from investors, which has
enabled it to invest in some of the most exciting spin-outs to come
out of UK academic research. In addition, the Group has agreed
GBP80.0 million in loan facilities from the European Investment
Bank (EIB).
Between Innovations' admission to AIM (August 2006) and 31
January 2017, Innovations has invested a total of GBP335.7 million
across its portfolio companies, which have collectively raised
investment of GBP1.5 billion.
This information is provided by RNS
The company news service from the London Stock Exchange
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