Imperial Innovations Group plc has published its results for the six months ended 31 January 2010.

Business highlights

• Led £15.3 million funding round in Circassia, investing £3.75 million with Invesco Perpetual and Lansdowne
• Led £1.2 million round in RepRegen, investing £0.3 million alongside LongBow and ComVest
• Invested £0.9 million in Quantasol with Low Carbon Accelerator and £0.4 million in Plaxica with Nesta, Carbon Trust and Invesco Perpetual as part of a £1.3 million investment round.
• Post period end investments:
   • £1.5 million in Myotec (part of a £2.8 million commitment) alongside £2.8 million from co-investor Invesco Perpetual
   • £0.4 million in Veryan Medical (part of a £1.1m commitment) alongside £2.5 million from new co-investors Seroba Kernel Lifesciences
   • £0.3 million in Polytherics (part of a £2.0 million commitment) alongside £1.0 million from co-investors
• Post period end: realised £0.8 million in cash (representing a 16 x return on original investment) from €4.5million sale of Membrane Extraction Technology (MET)
• Continued flow of intellectual property with 178 invention disclosures (H1 2009: 161) and 24 patents filed (H1 2009: 23)

Financial highlights
• Pre-tax profit £0.1 million (H1 2009: £1.3 million)
• Cash invested in portfolio companies £6.2 million (H1 2009: £2.8 million)
• Cash and short term liquidity investments at 31 January 2010 £24.4 million (H1 2009: £41.9 million)
• Net assets £85.8 million (H1 2009: £81.5 million)
• Since 31 January 2010, invested further £3.4 million in six companies and committed further £3.6 million

Martin Knight, Chairman of Imperial Innovations, said:

“We continue to focus successfully on our strategy - identifying pioneering research that addresses global problems, backing its creators and developers with substantial funding over an extended period, and teaming them with outstanding entrepreneurs to lead the technology towards profitable commercialisation.

“Despite the economic crisis, the momentum we have generated continues to build amongst our portfolio companies with a further £6.2 million invested during the first half. Over the last five years we have invested more than £45 million directly in our portfolio companies, who in total have raised over £220 million. We remain on course to realise good gains from disposals, as well as realising the value from the wide pool of IP across the Group.”

For a full copy of the interim report please visit http://www.imperialinnovations.co.uk/interim2010.pdf