New Deal for Fusion IP
Fusion IP, who work with UK Universities to turn educational research into business opportunities, has announced that they are to sell a 19.8% stake in their business to the IP group. The Yorkshire based company has also reported that they are to cease partnership with Citigroup Capital Ventures, who are to subsequently to sell their 6.3% share in the company.
Fusion IP are also set to reinforce their long term relationship with the University of Sheffield, and have recently expanded their current contract with the educational institution. The previous deal saw the company only being able to acquire Intellectual Property from the life sciences, but they are now set to have access to all research generated Intellectual Property from the University. Fusion IP also hold a 10 year agreement with the University of Cardiff to commercialise all of its Intellectual Property developed from research.
The chief executive of the company, David Baynes, has reported that the new deal with the IP group, along with their proposed investment in the company has created a promising future for the company. He also commented that the company has a fantastic collection of Intellectual Property in the pipeline.