Imperial Innovations Announcements
Investment in Spiral Gateway
14 April 2008 07:01:11
Imperial Innovations Group plc
14 April 2008
Imperial Innovations Group plc
("Imperial Innovations")
Investment in Spiral Gateway Ltd
Imperial Innovations Group plc (AIM: IVO) today announces that it has invested
in Spiral Gateway Ltd, alongside other investors Braveheart Investment Group
plc, Bank of Scotland Corporate and Scottish Enterprise's Scottish Co-investment
Fund. The second funding round of £730,000 into Spiral Gateway is designed to
provide interim support for the company whilst it develops and advances
discussions with key commercial partners.
Spiral Gateway was founded in 2004 as a spin-out from the University of
Edinburgh and is focused on the development of a computer processing platform
known as Reconfigurable Instruction Cell Architecture ('RICA'); a method for
processing multimedia, wireless and broadband computing tasks. Spiral Gateway is
aiming to incorporate the technology onto silicon chips and will initially
target the Image Signal Processing ('ISP') market. The ISP function is one which
is required in every camera enabled mobile phone.
The investment in Spiral Gateway is an example of Imperial Innovations' strategy
of considering certain seed stage companies and validating their commercial
potential by drawing upon Imperial College's expertise before investing in them.
After conducting due diligence on Spiral Gateway with help from Dr Oskar Mencer
in the Department of Computing at Imperial College, which has expertise in the
area of reconfigurable processors, Imperial Innovations made the investment with
a view to increasing its financial support at the next major funding round.
The management team includes highly experienced semiconductor professionals
including Graham Townsend, former CTO of Vision plc and ST's Imaging Division,
Rick Chapman, founding executive of SuperH, together with Alan Henderson (Spiral
Gateway's Chairman) and Robert Swann, two of the team that took Alphamosaic from
concept to a US$123m exit in 4 years.
Susan Searle, Chief Executive Officer of Imperial Innovations said,
"Imperial College's expertise is a great asset to us when making investment
decisions for external opportunities such as Spiral Gateway Ltd. We are pleased
to be investing in a company which we believe to have great potential."
Graham Townsend of Spiral Gateway said,
"We are delighted to have Imperial Innovations involved in this funding round.
Their team brings relevant experience of the technology marketplace and their
strong links with Imperial College have already contributed to an improved
understanding of how our technology is differentiated in the wider field of
re-configurable processing."
-Ends-
For more information contact:
Imperial Innovations
Susan Searle, Chief Executive Officer +44 (0)20 7594 6591
Lucy Ahfong, Marketing Communications Executive +44 (0)20 7594 6644
M:Communications
Patrick d'Ancona / Eleanor Williamson +44 (0)20 7153 1539
JP Morgan Cazenove (NOMAD to Imperial Innovations)
Steve Baldwin +44(0)20 7588 2828
Notes to Editors
About Imperial Innovations
Imperial Innovations is one of the UK's leading technology transfer and
commercialisation companies. The company was founded in 1986 and its ordinary
shares admitted to trading on the AIM Market of London Stock Exchange plc in
July 2006, raising £25 million at an offer price of 365p and £1 million by means
of a public offer. In November 2007, the company raised a further £30 million by
means of a placing of new ordinary shares with investors.
The company's integrated approach encompasses the identification of ideas,
protection of intellectual property, development and licensing of technology and
formation, incubation and investment in technology businesses. A wide range of
technologies are commercialised within the areas of healthcare, energy,
environment and emerging technology trends.
Based at Imperial College London, the company has established equity holdings in
74 technology businesses and is managing 133 commercial agreements as of 31 July
2007. Imperial Innovations also commercialises technologies originating from
outside Imperial College through incubation contracts with the Carbon Trust and
WRAP and has commercialisation contracts with a number of multinational
corporations including BAE Systems.
www.imperialinnovations.co.uk
About Spiral Gateway Ltd
Spiral Gateway is developing Image Signal Processing chips for the mobile phone
market. The company was incorporated in 2004 and is a spin-out from the
University of Edinburgh. It is backed by a consortium of investors led by
Braveheart Investment Group plc., the commercialisation and investment
management company.
www.spiralgateway.co.uk
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