New science spin-out formed

IP2IPO Group PLC 20 May 2004 For Immediate Release 20 May 2004 IP2IPO Group plc Formation of new materials science spin-out from the University of Southampton IP2IPO Group plc (AIM: IPO), the intellectual property company that specialises in commercialising university technology, is pleased to announce that it has acquired a 28.8% stake in Ilika Technologies Limited ('Ilika'), a spin-out company from the University of Southampton. Ilika is focused on high-throughput methods of screening, synthesising and characterising very large numbers of new materials. The four founders of Ilika, Professors Bradley, Hayden and Hursthouse and Dr Guerin, all of whom are based at the University of Southampton's chemistry department, combine expertise in robotics, combinatorial chemistry, materials science and informatics. High-throughput combinatorial chemistry has already had a significant impact on the pharmaceutical industry where the technique is widely used within the drug discovery process to synthesise and screen large numbers of new compounds. Ilika has been formed to introduce high-throughput combinatorial chemistry techniques to other chemical and materials industries, with the objective of dramatically accelerating the discovery of new materials with commercial value. This is a technology with applicability in a range of markets including fuel cells, polymers, ceramic coatings, lubricants, bio-medical materials, semiconductor materials, liquid crystals, catalysts, anti-corrosion materials and pigments. Ilika has appointed Graeme Purdy as Chief Executive Officer. Mr Purdy, a chemical engineer, spent the early part of his career with Shell in various international roles before joining Avantium Technologies BV, a successful Dutch start-up company that markets experimentation services to the chemistry and pharmaceutical industries. Commenting on today's announcement, Dave Norwood, Chief Executive Officer of IP2IPO, said: 'Ilika is a fantastic opportunity. The University of Southampton has developed a competitive lead in this area and the founders of Ilika have repeatedly demonstrated the extent to which industry is demanding access to their expertise.' For more information contact: IP2IPO David Norwood, Chief Executive Officer 020 7071 4348 University of Southampton Rosy Jones 02380 59 5378 Buchanan Communications Tim Anderson, Mark Court, Mary-Jane Johnson 020 7466 5000 Notes to editors IP2IPO IP2IPO is an intellectual property (IP) company that specialises in commercialising university technology. The Company has already formed four long-term partnerships with UK universities and listed on AIM in October 2003. IP2IPO's first such collaboration was with the University of Oxford. In return for an investment of £20 million, IP2IPO has acquired 50 per cent of the University of Oxford's equity in spin-out companies and technology licences based on intellectual property created at the Chemistry Department until 2015. In March 2002, IP2IPO Limited entered into a second long-term partnership with the University of Southampton. Under the terms of this partnership, IP2IPO is committed to working with the University of Southampton in the identification and facilitation of spin-out companies from across the University of Southampton and to investing £5 million in early-stage University of Southampton spin-out companies over a four year period in return for equity stakes in those companies. In addition, IP2IPO Limited also received a 20 per cent stake in Southampton Asset Management Limited, a company that has been formed to hold the University's equity stakes in its future spin-out companies. The partnership has a term of at least 25 years. IP2IPO Limited entered into its third long-term partnership in May 2003 with King's College London. IP2IPO Limited will work with King's College London to help identify and progress commercialisation opportunities as well as invest £5 million in King's College London's spin-out companies over a five year period in return for equity stakes in those companies. In addition, IP2IPO Limited will receive 20 per cent. of King's College London's equity in spin-out companies and technology licenses. The partnership has an initial term of 25 years. In October 2003, IP2IPO announced a fourth partnership with the Centre for Novel Agricultural Products ('CNAP'), based at the University of York. CNAP is a flagship research centre that specialises in plant and microbial gene discovery. Under the terms of the partnership a new company, Amaethon Limited, has been created which has the right to commercialise CNAP's IP for 25 years. IP2IPO Limited has committed to invest £1.15m in Amaethon Limited in return for a one third equity stake in Amaethon Limited (the remaining equity being owned by the University of York) and will also invest in the spin out companies based on CNAP's IP which Amaethon Limited creates. The University of Southampton The University of Southampton is a leading UK teaching and research institution with a global reputation for leading-edge research and scholarship. The University, which celebrated its Golden Jubilee in 2002, has 20,000 students and over 4,500 staff and plays an important role in the City of Southampton. Its annual turnover is in the region of £235 million. This information is provided by RNS The company news service from the London Stock Exchange

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