Touchstone Innovations PLC Innovations invests £2.9m in Abzena placing (0013D)

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RNS Number : 0013D

Touchstone Innovations PLC

21 April 2017

21 April 2017

Touchstone Innovations plc

Innovations invests GBP2.9m in Abzena placing

Touchstone Innovations plc (AIM: IVO, 'the Group', 'Innovations') has invested GBP2.9 million in the GBP25.0 million Placing of portfolio company Abzena PLC ('Abzena' or the 'Company') which completed earlier today, following the passing of the required Resolutions at the Company's General Meeting.

Innovations first invested in Abzena (formerly Polytherics) in 2007 having led a GBP2.3 million investment round into the Company. Prior to the Placing Innovations held a 19.7 per cent. of the voting rights attached to the issued share capital of Abzena. Following the Placing this holding is now 16.9 per cent.

Russ Cummings, CEO of Touchstone Innovations, said:

"We continue to be enthusiastic supporters of Abzena and are pleased to take part in this placing which will give the company the firepower it needs to capitalise on the growing international demand for its proprietary technologies and services.

"We are delighted by the investor support for this Placing and the broadening of Abzena's share register."

For further information contact:

 
    Touchstone Innovations plc                      020 3053 8834 
    Russ Cummings, Chief Executive Officer 
    Jon Davies, Director of Communications 
 
    Instinctif Partners                             020 7457 2020 
    Adrian Duffield/Melanie Toyne-Sewell/Chantal 
     Woolcock 
 
    J.P. Morgan Cazenove (Nominated Adviser)        020 7742 4000 
    Michael Wentworth-Stanley/Alec Pratt 
 
    RBC Capital Markets                             020 7653 4000 
    Darrell Uden/Marcus Jackson/Laura White 
 

About Touchstone Innovations - www.touchstoneinnovations.com

Touchstone Innovations plc (formerly Imperial Innovations Group plc or just "Innovations") creates, builds and invests in pioneering technology companies and licensing opportunities developed from outstanding scientific research from the 'Golden Triangle', the geographical region broadly bounded by London, Cambridge and Oxford.

This area has an unrivalled cluster of outstanding academic research and technology businesses, and is home to four of the world's top 10 universities, as well as leading research institutions, the cream of the UK's science and technology businesses and many of its leading investors.

Innovations supports scientists and entrepreneurs in the commercialisation of their ideas through protecting and licensing out intellectual property (through its Technology Transfer subsidiary, Imperial Innovations), by leading the formation of new companies, by recruiting high calibre management teams and by providing investment and encouraging co-investment. Innovations remains an active investor over the life of its portfolio companies, with the majority of Innovations' investment going into businesses in which it is already a shareholder.

Since becoming a public company in 2006, Innovations has raised more than GBP440 million of equity from investors, which has enabled it to invest in some of the most exciting spin-outs to come out of UK academic research. In addition, the Group has agreed GBP80.0 million in loan facilities from the European Investment Bank (EIB).

Between Innovations' admission to AIM (August 2006) and 31 January 2017, Innovations has invested a total of GBP335.7 million across its portfolio companies, which have collectively raised investment of GBP1.5 billion.

This information is provided by RNS

The company news service from the London Stock Exchange

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April 21, 2017 06:21 ET (10:21 GMT)