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NPI VenturesBiofusion plc ("Biofusion" or the "Company"), the university Intellectual Property (IP) commercialisation company, today announced that it has entered into a strategic partnership with NPI Ventures Limited ("NPI Ventures"). NPI Ventures is the technology investment business wholly owned by Nikko Principal Investments Limited ("NPIL"), the European principal finance arm of Nikko Cordial Corporation ("Nikko"), which is listed on the Tokyo Stock Exchange with a market capitalisation of approximately US$17 billion. David Baynes, CEO of Biofusion, said: "This agreement with NPI Ventures, by strengthening our balance sheet and improving our ability to raise third party funding for our portfolio companies, firmly establishes Biofusion as a major player in the university commercialisation market. The new dedicated Side Fund will greatly reduce the time and resources expended to find external funding for our portfolio companies. This, combined with the strong endorsement of a significant and experienced international investor, will support our plans for expanding the Biofusion model to other universities or research establishments." "NPI Ventures has a strong track record in the university spin-out investment market and considerable financial resources. We already have a good working relationship with them and their establishment of the Side Fund combined with their equity position and warrants demonstrates their commitment to this agreement. NPI Ventures will strengthen both our board and investment committee and we look forward to a strong, long term and profitable partnership with them." Brian Berry, CEO of NPIL, said: "We are delighted to be investing in Biofusion and to be creating such a significant partnership for the funding of its portfolio. Our experience in the university spin-out investment market, where we have invested in a significant number of IP rich Imperial College spin-outs, has confirmed to us that this is a sector which offers the potential for significant investment returns. We believe that other universities will be attracted by the Biofusion model, and we wish to be part of the expansion of the university sector." "Biofusion has an exciting portfolio of companies, a well established IP pipeline and an excellent management team. We look forward to working with them to expand the Biofusion commercialisation model over the coming years." |
