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Imperial Innov Share Discussion Threads
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|Today : Monday 10 October 2016
Click Here for more Imperial Innov Charts.
RNS Number : 1365M
Imperial Innovations Group plc
10 October 2016
10 October 2016
Imperial Innovations Group plc
Portfolio company Crescendo Biologics signs collaboration and licence agreement with Takeda worth up to $790m
IVO owns around 22% of Crescendo..
|Beaufort note out earlier today: Https://www.research-tree.com/company/GB00B170L953
"This acquisition is a positive step for Cell Medica. Delenex is a clinical stage biopharmaceutical company focussed on developing antibody therapeutics. Last week, Imperial Innovations portfolio company Econic Technologies completed a £5m funding round. The funds would help Econic in progressing with its growth plans. However, last month, Imperial Innovations informed shareholders with a disappointing outcome, following clinical trials undertaken by Circassia Pharmaceuticals in which it has significant investments. The study failed to achieve the desired result, given that both the active treatment and placebo groups were not significantly different. Circassia would now review its full dataset to understand the detailed results and assess whether or not any other confounding factor affected the outcome, as well as the more general impact on its allergy portfolio. Imperial invested £25.5m in Circassia (9.3% stake), the group's largest asset with a net fair value of £77.5m (based on market capitalisation of £833.6m), standing at c.22% of Imperial's net portfolio value of £355.1m as of 31st January 2016. The market reacted negatively to the news, with Circassia's share price falling 67% that day."|
|Covered in The Times' Tempus column today, on the back of yesterday's investment in UCL Fund. Final paragraph:
"The shares, up 10p at 370p, have taken a bit of a battering of late, for no obvious reason. I have highlighted Imperial before as an attractive long-term investment and I would do so again, although you may need to be patient."|
|7% Spread on a 600 million pounder of a stock. Total volume 5000 shares per day! that is only £23,000 This is now in the uninvestible bin.
On that it should be sitting at a discount to its NAV of about 20%|
|Full interview: https://www.youtube.com/watch?v=C2o5nhVOafs
14 October 2015: Russ Cummings, CEO of Imperial Innovations tells IG that it continues to benefit from its investment to build businesses. Immediately after Imperial published full-year results Stifel issued a buy target of 601p.|
|Very downbeat article in the Sunday Times, behind its paywall at
In essence, saying they haven't pulled off any mega-investments (with trebling their investment in Circassia the only biggish win) and as a result share price growth has been barely 3% p.a. over many years.
It's certainly been very quiet for an extended period, hopefully there are a few future unicorns tucked away in the portfolio - full year results out on Wednesday so maybe some useful updates to come.|
|Interview with CEO Russ Cummings
Russ Cummings, the chief executive of Imperial Innovations (LON:IVO), says the university commercialisation business is in a strong position after its recent fundraising. He says the £150mln placing will last the company ‘a good, long period’ and adds that so-called tax inversion deals ‘don’t really affect us’. The group’s annual results today showed a 38% rise in the value of its portfolio to £252mln.
|Not in yet but he is known for is long and safe bets|
|Found this in the telegraph may be of interest,
Imperial Innovations is by far the smallest company in the Woodford Equity Income top 10, with a market value of about £390m. AstraZeneca, by comparison, has a market value of almost £56bn. Imperial Innovations accounts for 3.6pc of the Woodford fund, which means that the fund owns about 13.5pc of the company.
It is understood that Mr Woodford took advantage of an opportunity to buy Imperial Innovations shares and won't seek to maintain its current weighting as the fund grows. Taking a large stake in a relatively small company is not always possible without causing the price to rise sharply|
|I noticed that too. The only thing I have found is this;
'I must confess I have always had a soft spot for Imperial Innovations, the company that invests in technologies developed at some of the UK's top universities.
Its origins lie just around the corner from the Evening Standard's Kensington office, in Exhibition Road where Imperial College resides. Imperial Innovations was set up as the technology transfer office for the college in 1986.
It floated 20 years later, raising £25 million through a share offer at 365p that valued it at £180 million. There have been a couple more fund-raisers totalling just over £180 million since then. The market cap has inched its way up to just over £410 million.
The shares have gone from 365p to 412p in eight years. That's hardly shooting the lights out - but look at the price over just the last seven months, and it has come up an impressive 58%. What's going on?
Two things: in 2011, Imperial extended its technological tie-ups to take in research at University College London, Oxford and Cambridge. Talk to chief executive Russell Cummings, and you find the technology being done by investee companies more often comes from at least two of these centres of learning rather than just one.
Second, as recent half-year results showed, Innovations is a maturing company. From a handful of investments when it floated, it now has holdings in well over 30 companies. These generally take between eight and 12 years to come to fruition, normally through a flotation.
The recent big one was cat-allergy treatment developer Circassia, which floated last month with a value of £581 million. Imperial still owns 19% of the business, and saw the value of that stake rise from £45 million in July 2013 to £73 million in December, and £82 million at float.
The big gains in Imperial's portfolio come just before its offspring head for the stock market. Now while Cummings was being cagey about naming names, he made it clear the pipeline of floats is looking good.
Word is that companies like Cell Medica (cellular therapeutics), PsiOxus (biotech), Veryan Medical (vascular disease) and PolyTherics (biopharma) are well on their way to listings.
Not only are Imperial companies maturing, but so too is the breadth and depth of its management. At the same time, its investor base (dominated by Imperial College itself and Invesco Perpetual) is a bunch of long-term holders. After a roller-coaster first eight years, it looks the right time to get on board for the next eight.'
|Another big jump today without any apparent news.|
|For those interested I rently contacted H&L re the proposed IPO of Circassia Holdings,and they confirmed they will be accepting orders for the issue subject to acceptance by the issuer, which will be considered firm once placed. Also orders will be subject to a commission at a flat rate of £100. One won't be able to place them via your ISA though.|
IVO are a research client of Edison. share price is currently at a 73% premium to NAV BUT Circassia IPO may change all this. Fund continues to have access to cash.|
|The Circassia float marks the start of a new era of major exits and will transform the profile of IVO.
I have bought some for my SIPP and await developments and dividends?|
|Sunday Times "Inside The City" has an article on IVO today, but hidden behind its paywall. In summary, says they need some of their investments to pay off (duh).
|Listen - Imperial Innovations Group - Portfolio company PolyTherics merges with Antitope.
Click the link below to listen
|lol - spike your ass! yer egg meister|
|Some boards show a spike down in advance of the 23 April results.
Any ideas what may lie behind such an adverse event?|
|Just been to an adviser seminar by Invesco Perpetual where IVO was highlighted as a key stock in the long tail of Woodford's Income Fund. He has high hoped for the company.|
|Not a lot of activity here. I am puzzled by the share price which is at a 22% premium to the net asset value of about 225p per share. Most Private Equity outfits trade at a discount of around 40%. Can anyone explain why IVO is so exciting?|