Imperial Innovations in £150m share placing to fuel investment

 
Oliver Smith
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IMPERIAL Innovations, the Aim-listed commercialisation firm founded by Imperial College London, announced yesterday that it is raising up to £150m to invest in research coming out of universities over the next 12 months.

Imperial said it will raise the funds as part of a placing of new shares with existing and new institutional investors later this year, after a shareholder vote on 19 June.

“We have identified opportunities to increase the capital deployed in a number of our leading portfolio companies, which in aggregate, are seeking to raise over £100m from investors over the next 12 months,” said Imperial Innovations’ chairman Martin Knight.

Imperial Innovations has had a string of successful investments in biotechnology firms including Circassia Pharmaceuticals which floated in February valuing Imperial’s 20 per cent stake at over £100m.

Imperial Innovations’ shares rose 5.26 per cent yesterday to close up at 415p on the news.