AIM-listed investment vehicle Imperial Innovations has released its half-year statistics showing that it has £109 million to spend.
The technology commercialisation and investment group has, for the six months to January 2012, provided £10.4 million to portfolio companies, taking its year-to-date total to £25.7 million.
Of the £10.4 million, £10.3 went towards Series A fundings and £100,000 to seed stages. Its investment portfolio value has grown by £12.9 million to £117.4 million.
During the period, a £5 million commitment was made to Autifony Therapeutics, a new spin-out from GlaxoSmithKline (GSK) in partnership with the University College London.
Outside of the investment period, Imperial has closed investments in Circassia for £11.75 million in April and Abingdon Health in March for £2 million.
Martin Knight, chairman of Imperial Innovations, comments, ‘At a time when energy storage and power capacity is so critical in a number of consumer and automotive markets, Nexeon’s battery technology couldn’t be better positioned.
‘Meanwhile, Circassia’s novel approach to the huge allergy market is making excellent progress with its proprietary Tolermune technology which tolerises the body to the allergen, such as cat, ragweed, house dust mite or grass.’