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Ilika Technologies Ltd ("Ilika" or "the Company"), the materials discovery company, has secured a further £7 million private equity investment valuing the Company at £39.5 million. The funds are earmarked for investment in materials research and development programs as well as capital investments in proprietary materials discovery equipment.
The investment has been secured from a syndicate of existing and new investors. Follow-on investments from Artemis and Invesco Perpetual, who became shareholders in 2006, were augmented by funds from IP Venture Fund, Nomura International and St Peter Port Capital.
Jack Boyer, Ilika’s Chairman, said, "We are delighted to have attracted both follow-on investment and new funds to our high quality shareholder base. The Company has made fantastic progress over the past 12 months and our deal pipeline promises further significant value generation going forward."
Chris Collins, CEO of Nomura Code Securities, who brokered the round, said, "We are very excited by Ilika’s prospects. The Company attracted a lot of investor interest against a backdrop of volatile market conditions, which is testimony to the management team, the Company’s valuable portfolio of intellectual property and the commercial agreements it has in place with blue-chip clients."
Notes to Editors:
Ilika specialises in the development and application of high-throughput, combinatorial R&D techniques for the accelerated discovery of new materials. In particular, Ilika has the capability of creating, as well as characterising, vast numbers of inorganic materials deposited using either physical vapour deposition or chemical vapour deposition techniques as well as the capability of generating and screening thousands of bio-compatible polymers. Consequently, the main markets that Ilika has chosen to focus upon include the energy, electronic and biomedical sectors. Ilika engages with customers through research collaborations, technology development projects and through licensing of materials which Ilika has developed.
As a matter of policy, Invesco Perpetual do not comment on individual investments. |
