Fusion IP plc (AIM: FIP), the university IP commercialisation company that turns world class research into business, is pleased to announce that Seren Photonics Ltd (Seren), its LED technology company, has signed its first collaboration agreement that includes terms to bring its unique processes to market.  Its technology is a fresh approach to increasing the amount of light created at the very heart of a white high brightness LED.

Under the terms of the agreement, which was signed with a major, undisclosed, LED manufacturer, Seren has given exclusive rights to its technology for certain lighting applications in India. The chosen partner has entered in to a collaboration agreement with Seren, which when successfully concluded, will allow the partner to take a licence for manufacture of product incorporating Seren's processes.

Fusion IP has a 48 % shareholding in Seren.

Dr Godfrey Ainsworth, Seren's Chairman, announcing the deal said:

"We estimate that the first sales of manufactured product, incorporating our technology, will start as early as 2013 and lead to an increasing royalty stream, as our partner brings our process in to full production and their own manufacturing capacity increases. We look forward to working closely on the collaboration and to achieving a successful tech transfer during 2012 to our first manufacturing partner.

This is the first of many commercial agreements we hope to conclude for Seren and it really demonstrates the potential of our unique approach to enhance light creation from LEDs.  This agreement is for just one application in one territory in the world. We are already in discussions with a number of our manufacturers around the world and expect to see further agreements made in a number of territories in 2012/13. Clearly, the potential value to the company of engaging with the right manufacturing partners is very significant."

David Baynes, CEO of Fusion, said:

"This is another great example of the value of the technology in our pipeline. Seren clearly has the potential to become an extremely valuable portfolio company and we look forward to more deals in the future, as the Company rolls out the technology into other sectors and other countries across the world."

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