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Imperial Innovations spin-outs win grants for R&D from the London Development Agency


Imperial Innovations, the technology commercialisation company based at Imperial College London, today announced that six of the companies in its portfolio have been awarded prestigious Research and Development Grants worth nearly £700,000 in total from the London Development Agency.

The Grant for Research and Development was introduced by the DTI in 2003 to help address the challenge of funding small to medium-sized enterprises in the London region. The 2005 competition attracted 88 applications with 29 winners successfully securing funding after a competitive application process, an impressive six of which are from the Imperial Innovations’ portfolio.

The six Imperial Innovations companies that have been awarded the Grant are:

· Thiakis Limited - the company is developing analogues of the peptide hormone oxyntomodulin for the treatment of obesity.

· IXICO Ltd – the company is enhancing its current image analysis technology platform to deliver a system that can provide high throughput image analysis capability for large scale clinical trials in three distinct clinical areas – dementia, rheumatoid arthritis and MR mammography.

· Lontra Ltd – an environmental technology developer whose principal technology is the Lindsey Engine, which is up to 37% more efficient than a traditional engine and has significant advantages with alternative fuels such as hydrogen. The Grant has enabled the company to proceed to Phase 3 of the development programme, moving towards initial prototypes.

· Membrane Extraction Technology Ltd – the company is investigating the technical and commercial feasibility of a new approach for manufacturing chiral molecules, Complexation Nano Filtration (CNF). Potentially the technology is a powerful tool to separate enantiomers that cannot be resolved by traditional techniques.

· ParOS plc - the company is applying its core parametric optimization algorithms for a model-based controller for AVT engines, in collaboration with Lotus.

· Process Systems Enterprise Limited – a leading provider of Advanced Process Modelling software and Model-Based Innovation services, it is aiming to initiate a much wider adoption of the software across the process industries.

Susan Searle, Chief Executive Officer, Imperial Innovations: “We are thrilled that the technological innovation and commercial potential demonstrated by six of our portfolio companies has been recognised by the London Development Agency in awarding its prestigious Research and Development Grants. These Grants both acknowledges the excellent progress they have made so far and will also enable them to take their technology to the next stage of development”.

-Ends-


Notes for editors

About Imperial Innovations

Imperial Innovations is one of the UK's leading technology commercialisation companies with a strong value creation record having already generated revenues in excess of £30 million from spin-outs and licenses since 1997. The company, together with Imperial’s academic inventors, has established equity holdings in more than 54 spin-out companies and completed over 100 commercial agreements. Over 1,000 jobs have been created through the spin-out companies.

Imperial Innovations commercialises technology emanating from Imperial College and external sources. Technologies range across software, micro and nano devices, power electronics, renewable energy, mechanical tools, medical imaging and devices, therapeutics and drug discovery tools.

In April 2004, Imperial Innovations was awarded a funding contract by the Carbon Trust to act as one of four incubators selected to incubate start-ups in the Low Carbon Incubator Programme and bring early stage, low carbon technologies to the market place. The Carbon Trust Incubator at Imperial Innovations now has 9 companies in its portfolio

In April 2005, Imperial Innovations arranged a private placing of ordinary shares in


Publisher Contact Information:

Imperial Innovations
+44 (0) 20 7594 6644
lahfong@imperial.ac.uk

Company profile of Touchstone Innovations (formerly Imperial Innovations)
Past press releases of Touchstone Innovations (formerly Imperial Innovations).

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