IP Group plc (LSE: IPO) ("IP Group" or "the Company" or "the Group"), the developer of intellectual property based businesses, is delighted to announce that it has signed an IP commercialisation partnership with Columbia Technology Ventures ("CTV"), the technology transfer office of Columbia University ("Columbia" or "the University").
The non-exclusive partnership, which has an initial pilot phase of 18 months, will focus on identifying early-stage, proof of principle opportunities based on intellectual property developed at Columbia University.
Columbia University, based in New York City, is a private Ivy League research university founded in 1754 and is the oldest institution of higher learning in New York. Columbia was one of the first research universities in the United States and has produced eighty Nobel laureates.
Columbia Technology Ventures is the tech transfer office of Columbia University. CTV's core objective is to facilitate the transfer of inventions from academic research to outside organisations for the benefit of society on a local, national and global basis. Each year, CTV manages more than 330 invention disclosures from faculty, 70 license deals and 15 new start-ups.
CTV currently has over 1200 patent assets available for licensing, across research fields such as bio, IT, cleantech, devices, nanotechnology, and material science. Over the years, CTV has been involved with launching over 150 companies based on Columbia's technologies. Of these companies, over 40 have received VC funding, with 27 successful acquisitions or IPOs to date.
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About IP Group
IP Group is a leading UK intellectual property ("IP") commercialisation company, developing technology innovations primarily from its research intensive partner universities. The Group offers more than traditional venture capital, providing its companies with access to business building expertise, networks, recruitment and business support.
The Company's portfolio comprises holdings in over 70 companies including Oxford Nanopore Technologies, the DNA sequencing development company, Revolymer, best known for its removable chewing gum and Xeros, which has received many accolades for its revolutionary clothes washing techniques with a much reduced requirement for water.
The portfolio includes early stage to mature businesses and has exposure to five main sectors - Energy & Renewables, Medical Equipment & Supplies, Pharma & Biotech, IT & Communications and Chemicals & Materials. To date, fifteen of the portfolio companies IP Group has backed have listed on the AIM market of the London Stock Exchange and one on ISDX.
Founded in 2001, IP Group listed on AIM in October 2003 and moved to the Official List in June 2006.
For more information, please visit our website at www.ipgroupplc.com.