Revolymer wins US regulatory

RNS Number : 1186P

IP Group PLC

09 July 2010

 



09 July 2010

IP Group plc - Portfolio company Revolymer wins US regulatory approval for removable chewing gum launch

IP Group plc (LSE: IPO) ("IP Group"), the developer of intellectual property based businesses, is pleased to note that Revolymer Ltd ("Revolymer" or "the Company"), a company in the IP Group portfolio and a spin-out company from the University of Bristol, has today announced the successful completion of the "GRAS" regulatory approval process which will allow the sale of its proprietary removable and degradable chewing gum in the United States.

With food approval going through final stages in Europe, Revolymer®'s industry leading chewing gum is set to be on shop shelves on both sides of the Atlantic in 2011. Roger Pettman, CEO and Chairman of Revolymer, made the announcement at the Mayor of London's 'Gum Gala', an all day event bringing together industry and public sector experts to help solve the problem of gum littering in London.

Revolymer®'s industry leading environmentally responsible chewing gum is both removable from many surfaces (reducing the significant problem of gum littering on streets and pavements) and will also degrade in the environment over time, reducing landfill. IP Group has a beneficial holding of 11.1% in Revolymer while venture capital funds managed by IP Group have a total beneficial holding of 13.4% in the Company.

The full announcement follows:

Revolutionary removable and degradable gum available for commercialisation

CEO, Roger Pettman, announces approval of sale at London Mayor's first Gum Gala

Revolymer Ltd announces today the successful completion of the "GRAS" regulatory approval process which will allow the sale of its proprietary removable and degradable chewing gum in the United States.  With food approval going through final stages in Europe, Revolymer®'s industry leading chewing gum is set to be on shop shelves on both sides of the Atlantic in 2011.

Roger Pettman PhD, CEO and Chairman of Revolymer® made the announcement at the Mayor of London's 'Gum Gala', an all day event bringing together industry and public sector experts to help solve the problem of gum littering in London.

Revolymer®'s industry leading environmentally responsible chewing gum is both removable from many surfaces (reducing the significant problem of gum littering on streets and pavements) and will also degrade in the environment over time, reducing landfill.

"80% of gum finds its way onto UK streets at a cost of over £150m per year for local councils to remove," said Roger Pettman. "Revolymer®'s technology solves a very costly and environmentally challenging problem. With US food approval in hand and European food approval expected shortly, we're pleased to see that the potential of our chewing gum is being recognised with regulatory approval."

Revolymer® has developed a high quality chewing gum with superior chew characteristics and long lasting flavour. The Company has also studied its removability and degradability in a variety of climates worldwide, carrying out extensive tests on the degradation and removal characteristics compared to existing commercially available confectionery chewing gum. The Company's gum can be removed readily from clothes and shoes using soap and water and from hair using ordinary hair shampoo. In the environment, tests have shown that 70% is removed by conventional street cleaning and any gum which is washed into the drains will physically degrade into minerals and other inert materials. The remaining gum can be removed with cold water at typical household water pressure.

For more information, please contact:

IP Group	www.ipgroupplc.com
Alan Aubrey, Chief Executive Officer	[phone]
Liz Vaughan-Adams, Communications	[e-mail] [phone] /[phone]
Financial Dynamics
Ben Atwell, John Dineen	[phone]
Revolymer®	www.revolymer.com
	[e-mail]
Burson-Marsteller UK
Carolyn Dealey	[e-mail] [phone]/[phone]

About IP Group

IP Group is an intellectual property (IP) commercialisation company that specialises in commercialising university technology. Founded in 2001, IP Group listed on AIM in October 2003 and moved to the Official List in June 2006. It has made two acquisitions to date - Techtran, a company set up to commercialise university intellectual property under a long term contract with the University of Leeds, in 2005 and Top Technology Ventures, an investment adviser to early stage technology venture capital funds, in 2004.

IP Group has formed long-term partnerships with ten universities - the University of Oxford, King's College London, CNAP/University of York, the University of Leeds, the University of Bristol, the University of Surrey, the University of Southampton, Queen Mary (University of London), the University of Bath and the University of Glasgow.

The Company's portfolio is diverse with exposure to five main sectors - Energy & Renewables, Medical Equipment & Supplies, Pharma & Biotech, IT & Communications and Chemicals & Materials. To date, thirteen portfolio companies have listed on the AIM market of the London Stock Exchange, one on PLUS Markets and there have been four trade sales.

For more information, please visit our website at www.ipgroupplc.com.

About Revolymer®

Revolymer® is a rapidly growing technology development company which has developed a unique portfolio of products and formulations for the FMCG industry. Using commercially available and inexpensive polymers, Revolymer® applies its innovative proprietary approach to formulate novel polymers to revolutionise consumer products. Current applications for the Company's technology are in the Confectionery Chewing Gum, Medicated Chewing Gum, Household Products, Personal Care and Coatings & Adhesives sectors of the FMCG industry. For further information please contact [e-mail] or visit our website Revolymer.com.

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