Cambridge Innovation Capital plc: Annual Results
(Thomson Reuters ONE) -
Annual Results
6 July 2017
Cambridge Innovation Capital (CIC), a Cambridge-based investor in technology and
healthcare companies, today announces highlights from its annual results for the
year ended 31 March 2017.
Highlights:
* Raised an additional £75.0 million (total raised to date: £125.0 million)
from new and existing investors to increase funds for investment
* Strengthened relationship with the University of Cambridge such that CIC is
a preferred investor for the commercialisation of intellectual property
created at the University
* Committed a total of £40.0 million (2016: £19.0 million) into seven new and
nine existing portfolio companies, bringing the total invested or committed
to £63.7 million in 19 companies at the end of March 2017 (2016: £26.0
million to 12 companies). Following the investment into Bicycle
Therapeutics in June 2017, CIC has now committed £72 million to 20 portfolio
companies
* Expanded the capabilities of the investment team, attracting Dr Andrew
Williamson and Dr Michael Anstey as Investment Directors and Carol Cheung as
an Investment Associate
Victor Christou, Chief Executive Officer of CIC, commented: "We are committed to
building leading businesses from brilliant technologies emanating from the
University of Cambridge and the wider Cambridge community and we continue to
believe in the fundamentals of our business model to achieve this ambition. Each
year we see a healthy flow of potential new investment opportunities, from which
we have established a diverse portfolio of technology and healthcare businesses
that are making good progress - but there is more to do. We will continue to
enjoy our pivotal position in Cambridge, working alongside appropriate and
trusted co-investors, to provide patient capital to category leaders in rapidly
growing technology and healthcare sectors.
"We remain confident that CIC is well-placed to thrive and build substantial
value for shareholders."
Investment highlights in the year to 31 March 2017 include:
PragmatIC. Having first invested in 2014, CIC provided further funds for
PragmatIC, a world leader in flexible electronics, as part of an £18 million
round to support the development and commercialisation of its FlexLogIC "fab-in-
a-box" equipment. Avery Dennison, which has leading global positions in
labelling and packaging materials as well as radio frequency identification
(RFID), also participated in the round.
Congenica. In February 2017 CIC led an £8 million funding round in Congenica, a
leading provider of clinical genome analysis technology, to sustain the
commercial roll out of its Sapientia(TM) clinical genome analysis platform, by
accelerating international growth and expanding customer support. Chinese
companies BGI Genomics (BGI) and Healthlink Capital (Healthlink) later joined
this round, investing at completion. In addition, BGI Genomics and UniteGen,
Healthlink's associated clinical diagnostic laboratory, signed commercial
contracts to use Sapientia(TM) to support their operations in China.
Inivata. CIC invested a further £2.7 million of the Series A commitment made
last year, the company having launched its US clinical validation study in non-
small cell lung cancer.
Imagen. CIC invested £2.5 million to develop and expand Imagen's customer base
for its sector-leading media asset management system. Imagen's sophisticated
SaaS media archival and monetisation platform, ImagenEVP, is used by world-
leading sports federations, including the Premier League, ATP World Tour, Ryder
Cup and IMG Media, to handle and distribute valuable content and images to
global broadcast partners such as NBC, ESPN and Sky.
Cambridge Medical Robotics (CMR). CIC contributed to a $20.3 million Series A
funding round for CMR which is developing a next-generation robotic system for
universal minimal access surgery. CMR's goal is to increase the volume and range
of surgical procedures performed robotically and to deliver an affordable
solution for healthcare providers.
Microbiotica. CIC co-led the initial £8 million round of funding to establish
this spin out from the Wellcome Trust Sanger Institute to develop and
commercialise new defined bacteriotherapies based on the human gut microbiome.
Carrick Therapeutics. CIC was part of the syndicate which committed $95 million
to establish Carrick Therapeutics, a European oncology company. Some of
Carrick's founding intellectual property is derived from work undertaken at the
Gurdon Institute in Cambridge.
ENDS
Investor, analyst and media briefings
Investor, analyst and media briefings will take place in London later today.
Please contact Consilium Strategic Communications (details below) for further
information.
For more information, please contact:
Cambridge Innovation Capital +44 (0)1223 764875
Victor Christou, CEO
Louise Rich, Head of Investor Relations and
Communications
Consilium Strategic Communications (City, +44 (0)20 3709 5700
financial PR) CIC(at)consilium-comms.com
Mary-Jane Elliott
Ivar Milligan
Lindsey Neville
Holdsworth Associates (local and trade PR) +44 (0)1954 202789
Rachel Holdsworth Rachel(at)holdsworth-associates.co.uk
About Cambridge Innovation Capital
CIC combines a unique relationship with the University of Cambridge with deep
financial and industry links to invest in rapidly growing intellectual property
rich companies in the Cambridge Cluster. The Company is committed to building
leading healthcare and technology businesses from brilliant IP - with the
support of some of the most influential figures in the sector and a patient
capital structure.
For more information visit www.cicplc.co.uk or follow (at)CambsInnovation
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cambridge Innovation Capital plc via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 06.07.2017 - 13:00 Uhr
Sprache: Deutsch
News-ID 551324
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contact information:
Town:
Cambridge
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