Top

News & Events

Near doubling of investment rate and gains in unquoted portfolio drive net portfolio value up by £75.2 million to £327.2 million

Near doubling of investment rate and gains in unquoted portfolio drive net portfolio value up by £75.2 million to £327.2 million

Imperial Innovations Group plc (AIM: IVO, "Innovations" or "the Group"), a leading technology commercialisation and investment group, has published its results for the year ended 31 July 2015.

Investment highlights

  • £60.8 million invested across 30 portfolio companies (2014: £32.8 million across 25)
    • 85% invested into existing portfolio companies
  • Led three substantial private rounds - Cell Medica (£50 million), Veryan (£18 million) and PsiOxus (£25 million)
  • Net portfolio value up by £75.2 million to £327.2 million (2014: £252.0 million)
  • Six accelerated growth companies added to investment portfolio
  • £479.9 million raised by portfolio companies in the year
  • £1.3 billion raised by portfolio companies to date (including £236.8 million invested by Group since its IPO in 2006)

Financial highlights

  • Pre-tax profit of £15.1 million (2014: £27.4 million)
    • Net fair value gains £21.3 million
  • Net assets £420.1 million (2014: £404.8 million)
  • Total realisations were £6.9 million
  • £178.1 million available to invest, including £50.0 million second EIB loan
  • Revenues of £5.1 million (2014: £3.6 million), result of strong licence and royalty income streams

Martin Knight, Chairman of Imperial Innovations, said:

"We have had another year of good progress, producing a healthy profit and delivering on our promise to increase substantially our rate of investment.  In fact we have almost doubled it, investing £60.8 million across 30 companies.

"A key highlight of the year, was the transformation of Circassia into a FTSE 250 specialty biopharmaceutical company, following its completion of two acquisitions and £275.0 million placing. The successful nurturing of Circassia from an original £2.0 million seed funding round in 2007, provides an excellent illustration of our ability to build substantial, high quality businesses in which we retain a meaningful stake.

"The business model is proven beyond doubt. We have created a strong platform, based on access to the UK's finest science-driven intellectual property, a highly professional investment capability and an executive team with a deep understanding of both the academic mind set and know-how to commercialise early-stage technology.

"We also have a strong balance sheet and the support of an impressive group of like-minded shareholders and co-investors.
"All the key ingredients are in place for us to back our winners, particularly as there are a significant number of companies in our portfolio with the potential to replicate Circassia's success."


A pdf copy of the results is available at http://www.imperialinnovations.co.uk

Issued for and on behalf of Imperial Innovations by Instinctif Partners.
For more information please contact: imperialinnovations@instinctif.com

back to news

People

Melanie Toyne-SewellManaging Partner

Tim WatsonAssociate Partner