Fusion IP posts rise in profits and revenue

In the year ended July 31 2011, revenue and portfolio return increased by 35 per cent to £5.9m. Profit, excluding subsidiary spin-out costs and amortisation, increased by 68 per cent to £4.2m.

David Baynes, the chief executive of Fusion IP, said:

“We are pleased to announce another successful year for the group, one in which we have increased revenue, portfolio returns, and EBITDA. The value of our portfolio has continued to grow and we anticipate we will be able to demonstrate this further in the current financial year, and remain focused on achieving our first cash realisation. We look forward with confidence.”

Fusion IP, previously called Biofusion, was established in 2002 to commercialise university- generated intellectual property. Fusion IP has signed long term agreements with the University of Sheffield and Cardiff University, giving a combined research and development spend attributable to Fusion IP of more than £200m a year.

Fusion’s first agreement was a 10-year exclusive arrangement with the University of Sheffield giving it the right to commercialise research, owned by the university, initially in the area of medical life sciences. The commercialisation takes place through both the creation of spin-out companies and licensing.

This agreement was expanded in July 2008 to include all non-life science research-generated IP such as energy, engineering and electronics. Fusion has significant shareholdings in a portfolio of Sheffield University spin-out companies including Simcyp, Magnomatics, Seren Photonics, Diurnal and Phase Focus.