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 its US subsidiary, IP Group Inc., has formed a pilot initiative with FedIMPACT, to identify and develop early-stage technologies from a select group of US Department of Energy ("DOE") Laboratories.
The initiative includes technologies in materials, clean technology, life science, medical and human sciences, information technology, electronics, communications and robotics. FedIMPACT will seek early-stage technologies from an initial pilot group of DOE Laboratories including Pacific Northwest National Laboratory and the National Renewable Energy Laboratory.
FedIMPACT, whose founders have spent many years in and around DOE Laboratories, will combine its insight and knowledge of the DOE network with IP Group's unique model of commercialising early-stage technology through long-term partnerships.
Alan Aubrey, Chief Executive of IP Group, said: "It is extremely exciting to have this opportunity to establish the FedIMPACT partnership and work with these leading DOE Laboratories. We believe the long-term partnership model that IP Group has pioneered is a particularly good fit for these institutions and we look forward to working with them."
Tracy Warren, Executive Director of FedIMPACT, said: "FedIMPACT is an established partner of the federal lab network and provides a central access point to optimise and accelerate the technology commercialisation experience. We are thrilled to be working with such an experienced and highly regarded partner as IP Group that has established a unique approach to developing intellectual property based businesses."
The agreement with FedIMPACT augments IP Group Inc's existing business in the US where it has already established three partnerships, through pilot agreements, with Columbia University, Princeton University and the University of Pennsylvania.
For more information, please contact:
IP Group plc
Alan Aubrey, Chief Executive Officer
+44 (0) 20 7444 0050
Liz Vaughan-Adams, Communications
+44 (0) 20 7444 0062 / +44 (0) 7979 853 802
FTI Consulting (for IP Group)
Simon Conway / Victoria Foster Mitchell
+44 (0)20 3727 1000
Notes for editors
About IP Group
IP Group is a leading UK intellectual property 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.
IP Group's portfolio comprises holdings in around 90 early-stage to mature businesses across the Healthcare, Biotech, Cleantech and Technology sectors. These businesses include 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.
For more information, please visit our website at www.ipgroupplc.com.
FedIMPACT is a technology and commercialisation advisor to the DOE laboratory network. Through its recently established partnership with IP Group Inc., FedIMPACT will seek to identify and incubate DOE Laboratory technologies that show promising commercial opportunity.