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ANGLE plc announces 20-year strategic partnership with the University of Reading – University of Reading

ANGLE plc, the venture management and consulting company specialising in the commercialisation of technology, is pleased to announce that it has signed a 20 year strategic partnership with the University of Reading. Under the terms of the agreement, ANGLE has the exclusive right of first refusal to invest in all University intellectual property (IP) that is commercialised. Where ANGLE exercises this right, it will invest under a set formula obtaining an equity stake of 60% in each spin-out company for an investment of up to £0.5 million. ANGLE will drive development of these ventures utilising its proprietary Progeny® process. Additionally, ANGLE will receive a 15% share in all commercial returns from University IP, both licensing and spin-out, in which ANGLE does not invest. In exchange, ANGLE will provide consultancy support to the University on IP commercialisation. In total, ANGLE expects to invest at least £3 million over the first five years of the agreement and expects that this will be funded from existing resources. The University has income of more than £150 million per annum and over 1,000 academic staff. The most recent government Research Assessment Exercise rated 20 of its departments as 5 or 5*, denoting international excellence in research activity. This excellence is found in areas as diverse as climate physics, fluid dynamics and food biosciences, the latter of which is ideally placed as the global market for functional foods grows towards an estimated $95 billion per annum by 2010. In addition, the University's Instrumentation & Signal Processing Research Group and Cybernetic Intelligence Research Group both possess not only high international reputations but also strong histories of producing groundbreaking, commercial technologies. ANGLE is already working with the University to evaluate opportunities arising from these and other areas. The University has a long tradition of being at the forefront of commercial activities, as the first British university to integrate an industrial R&D group on its campus; the first university to win the Queen's Award for Export Achievement; the host to the UK's leading Knowledge Transfer Partnership (KTP) Centre; the provider of one of the largest credit bearing entrepreneurship teaching programmes in the UK; and the home of InnovationWorks@Reading, a facility for creative problem solving unique in the South East. Existing spin-out companies include Whitfield Solar, a developer of low-cost solar power solutions that has recently joined the Carbon Trust's Incubator managed by ANGLE. ANGLE's Director of New Ventures, Stephen Bence, said: "The University of Reading is a top rated research University with strength in depth through its technology base. We are delighted to have the opportunity to work with the University to commercialise its intellectual property over an extended period of time and look forward to some early successes." ANGLE's Group Chief Executive, Andrew Newland, added: "We are delighted to sign The University of Reading as ANGLE's first UK strategic partnership. Establishing long-term relationships with owners of impressive intellectual property represents a new phase in ANGLE's strategic development. This ground-breaking deal is the first of a number of such deals that we expect to be able to announce over the next 18 months." David Savage, Director of Finance and Corporate Services at the University of Reading, said: "We have been approached by a number of IP commercialisation groups interested in investing in the University's intellectual property but ANGLE offered a unique combination of consultancy expertise in identifying opportunities and proactive management of their development. We are confident that this strategic partnership will deliver a step change in technology transfer from the University of Reading for the benefit of the UK economy." The University's Technology Transfer Manager, Sue O'Hare, added: "ANGLE's track record of successful spin-out companies and network of experienced and well-connected people are impressive. We are very excited by the opportunity to work closely with them to realise the potential of the University's intellectual property and to maintain and develop the University's record of being at the leading edge." end For further information ANGLE plc Andrew Newland, Chief Executive Stephen Bence, Director of New Ventures Tel: +44 (0)1483 295830 The University of Reading Sue O'Hare, Technology Transfer Manager Tel: +44 (0)118 935 7198 Buchanan Communications Richard Darby, Suzanne Brocks, James Strong, Amy Rajendran Tel: +44 (0)20 7466 5000 Note for editors About ANGLE Founded in 1994, ANGLE is an international venture management and consulting company focusing on the commercialisation of technology and the development of technology-based industry. ANGLE creates, develops and advises technology businesses on its own behalf and for its clients. ANGLE operates from offices in the UK, the US and the Middle East. ANGLE is listed on AIM (AGL.L); further information can be found at http://www.angleplc.com About the University of Reading The University of Reading is one of the top 20 research-intensive universities in the UK, with a world-wide reputation in the areas of environmental technologies, agriculture, food biosciences, information and communications technologies, construction management, and financial markets. The University is committed to achieving excellence in research, teaching and enterprise and to translating its excellence into a major contribution to culture, economic well-being and the quality of life. For more information, visit http://www.reading.ac.uk