Imprimatur Capital (IC) started a new line of business around 2005, namely to source IP from universities, fund proof-of-concept work and forward-license inventions to next stage investors. IC has recruited universities in Russia, Ukraine, Baltic States, Singapore and Spain. I met their name in Spain recently and tried to find out more because I see IC as a new trend which is already moving fast in the US (eg-. Bridgehead Group)(their web site doesn't always work), who bought a new Danish start-up company recently. Formerly, I have described how Cancer Research Technology in London works. Also you might wish to study a BioTech group with Danish founders but now based in London: Bridge Bioresearch .
I found (used JBEngine) some documents about IC's mode of work in the east. I note that they get a first right of refusal to commercialise against infusing proof-of concept funding for project in the order of 2-5k....and maybe also larger sums (<10k) (maybe this reflects the "eastern" prices??). First impression: universities pay a high price to commercialise....?
I then went to Companies House in the UK to see their ownership and financial background. The company is controlled by two persons who seemingly won a lot of money in the IT Bubble economy and then decided to invest in new ventures. They must have seen how lucky they were to get out of their individual ventures before the bubble burst?? And saw that portfolio management is better. The two invested 2,5 million € in 2005 and convinced Barclay's Bank and a few other minority investors to drop another 1 million (so it seems from the accounts).
With that money and an option programme they hire some good professionals to go on a "fishing expedition" in universities around the world, assuming that expert due diligence will do the rest (pick winners). Good luck: IC may find itself in another bubble experience soon and/or must attract even more capital to survive.
The model is great, but there is a point of warning to universities who sign up: the money you get for giving away your inventions may just be too small....But there is another even more alarming signals for the many new "Knowledge Transfer Offices" or tech transfer services in universities: for 5-10 years you have now tried to commercialise your universities' inventions but most of you have a low score on actual hits - and consequently spend more money than you cost etc. There is a danger that dismayed rectors will conclude that this business cannot be done inside universities - and, if it's outside, why not sell to companies such as IC.
I have downloaded the Background documents on my BeefBlog (for participants in my Where's the Beef Course).
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