Fusion IP plc (AIM: FIP), the university IP commercialisation company that turns world class research into business, is pleased to announce its Preliminary Results for the twelve months ended 31 July 2012.

Highlights:

·       First material exit event - sale of Simcyp to Certara for $32m, generating approximately $6.4m to Fusion, a 200-fold return on our original investment

·       £5m placing in November 2011

·       Value of portfolio increased to £19.8m (2011: £16.8m)

·       Cash and deposit balances totalling £5.9m (2011: £2.0m)

·       Two new portfolio companies started in the year (FaultCurrent Limited and Nanotether Discovery Science Limited)

·       £2.9m invested in the portfolio companies by Fusion (2011: £1.6m)

·       £10.5m committed to the portfolio companies by third party investors (2011: £6.1m)

Post year end highlights:

·       Portfolio company i2L's acquisition of US based insect control testing services company, ICR Baltimore, from MGK

Commenting on these Preliminary Results, David Baynes, CEO of Fusion IP, said:

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© Publicnow - 2012