18 September 2012
IP Group plc - Completes investment in Oxford
University spin out, Oxehealth Ltd
IP Group plc (LSE: IPO) ("IP Group" or
"the Company" or "the Group"), the
developer of intellectual property based businesses, is
pleased to announce that Oxehealth Ltd, an innovative
medical software company, has been spun-out from Oxford
University's Institute of Biomedical Engineering
(IBME).
IP Group plc has committed to invest up to £500,000
into Oxehealth, subject to certain milestones being
met. This is the second IBME spin-out that IP Group
has funded since acquiring its stake in Technikos LLP in
January 2011.
The company's initial focus will be to
commercialise a novel technology that will enable a webcam
to monitor the vital signs (heart rate, respiratory rate
and oxygen saturation) of patients in artificial light,
without the need for any additional hardware. The
technology has been generated by Oxehealth's academic
founder, Professor Lionel Tarassenko.
The research leading to the spin-out originated from
Oxford's Centre of Excellence in Personalised
Healthcare, which is one of four Centres of Excellence in
medical engineering in the UK, and is jointly funded by the
Wellcome Trust and the Engineering and Physical Sciences
Research Council. Research funding contribution
was also made by the Oxford University Hospitals NHS Trust
through its NIHR Oxford Biomedical Research Centre
funding. Specifically, Oxehealth will deliver a range
of software products based on intelligent algorithms and
the convergence between digital cameras, personal computers
and mobile phones.
Professor Tarassenko, Director of the IBME, said:
"Our research has transformed the ubiquitous webcam
into a non-contact sensor for monitoring the most important
vital signs. Our close collaboration with biomedical
scientists in the University and clinicians in the NHS
Trust has enabled rapid translation from the lab to the
ward. We believe that our webcam software offers a step
change in the way that the health of individuals can be
assessed in the home or the hospital. "
Alan Aubrey, Chief Executive Officer of IP Group
said: "Digital health is an exciting and growing area
and IP Group is pleased to support Oxehealth as it seeks to
develop new products that could transform healthcare and
patient monitoring."
Tom Hockaday, MD of Isis Innovation, which managed
the spin-out process on behalf of the University said,
"Oxehealth's product has the potential to make
major healthcare improvements by reducing the number of
times patients need to visit the doctor, and allowing
doctors to adjust treatments quickly in response to
real-time monitoring."
Oxford University Hospitals NHS Trust Chief
Executive, Sir Jonathan Michael said: "We are
delighted that Oxehealth is the first spin-out directly
linked with the Trust. The study in our Kidney Unit was
essential to demonstrate that the technology works in a
clinical environment, for the benefit of patients.
Oxehealth is another example of the many innovative
opportunities which the partnership between the Trust and
the University is making possible."
Ends
For more information, please contact:
|
IP Group plc
|
www.ipgroupplc.com
|
|
Alan Aubrey, Chief Executive
Officer
|
+44 (0) 20 7444 0050
|
|
Liz Vaughan-Adams,
Communications
|
+44 (0) 20 7444 0062 / +44 (0) 7979 853
802 liz.vadams@ipgroupplc.com
|
|
FTI Consulting
|
|
|
Ben Atwell, John Dineen
|
+44 (0) 20 7831 3113
|
Notes for editors
About IP Group plc
IP Group is a leading UK intellectual property
("IP") commercialisation company, developing
technology innovations primarily from its research
intensive partner universities. The Group offers more than
traditional venture capital, providing its companies with
access to business building expertise, networks,
recruitment and business support.
The Company's portfolio comprises holdings in
over 60 companies including Oxford Nanopore Technologies,
the DNA sequencing development company, Revolymer, best
known for its removable chewing gum and Xeros, which has
received many accolades for its revolutionary clothes
washing techniques with a much reduced requirement for
water.
The portfolio includes early stage to mature
businesses and has exposure to five main sectors - Energy &
Renewables, Medical Equipment & Supplies, Pharma & Biotech,
IT & Communications and Chemicals & Materials. To date,
fourteen of the portfolio companies IP Group has backed
have listed on the AIM market of the London Stock Exchange
and one on PLUS Markets.
Founded in 2001, IP Group listed on AIM in October
2003 and moved to the Official List in June 2006. The Group
now has long-term partnerships with twelve core
universities including those under its commercialisation
agreement with Fusion IP plc.
For more information, please visit our website
at www.ipgroupplc.com
.
About Technikos LLP
Technikos is a London based venture capital fund
specialising in medical technology. In 2006, Technikos
entered into a formal, long-term commercial partnership
with Oxford University's Institute of Biomedical
Engineering (IBME). Under the terms of this
agreement, Technikos receives half the University's
equity in any biomedical spin-out from the IBME, along with
half the University's share of any IBME-derived
royalties from licensing income also.
About the University of Oxford's Institute of
Biomedical Engineering
The Institute of Biomedical Engineering (IBME) is a
research institute of the Department of Engineering
Science, which is located on the
University's medical campus in
Headington.
Opened in April 2008, the IBME offers a world-class
venue for engineers and clinicians to work together on
addressing unmet needs in the prevention, early diagnosis
and treatment of major diseases. The Institute's core
mission is to develop novel medical devices, technology and
systems capable of delivering substantial healthcare
benefit.
About Professor Lionel Tarassenko
Professor Tarassenko is the author of 140 refereed
publications, 150 conference papers, 3 books and 24
patents. He was a founder director of Third Phase (now sold
to Cmed) in December 1999, of Oxford BioSignals Ltd in May
2000 and of e-San Ltd (then t+ Medical) in February 2002.
He is a member of EPSRC's Digital Economy Ethics
Advisory Panel and of the Electrical and Electronic
Engineering Sub-Panel for the forthcoming Research
Excellence Framework (REF) assessment, and he is the Chair
of the Royal Academy of Engineering's Biomedical
Engineering Panel. He is the Bioengineering theme leader
for the joint NHS/University of Oxford Biomedical Research
Centre, the Director of the Oxford Institute of Biomedical
Engineering since April 2008, and the Director of the
Centre of Excellence in Medical Engineering jointly funded
by the Wellcome Trust and EPSRC since October 2009.
About Isis Innovation
Isis Innovation is the research and technology
commercialisation company of the University of Oxford. The
Technology Transferand Oxford University
Consultingdivisions provide access to technological
developments and expertise from University of Oxford
researchers, through intellectual property licensing,
spin-out company formation, material sales and consulting.
Isis is the highest University patent filer in the
UK, has attracted investment into over 65 spin-out
companies since 2000, and in the last financial year
provided expertise to over 150 clients in 22 countries.
Through the Isis Enterprisedivision, Isis
offers innovation management to university, government and
industrial clients around the world. For updates on
innovations from Oxford, follow Isis on LinkedIn
and Twitter
or subscribe at
www.isis-innovation.com
About the Wellcome Trust
The Wellcome Trust is a global charitable foundation
dedicated to achieving extraordinary improvements in human
and animal health. It supports the brightest minds in
biomedical research and the medical humanities. The
Trust's breadth of support includes public engagement,
education and the application of research to improve
health. It is independent of both political and commercial
interests.
About the EPSRC
The Engineering and Physical Sciences research
Council (EPSRC) is the UK's main agency for funding
research in engineering and physical sciences. EPSRC
invests around £800m a year in research and postgraduate
training, to help the nation handle the next generation of
technological change.
The areas covered range from information technology
to structural engineering, and mathematics to materials
science. This research forms the basis for future economic
development in the UK and improvements for everyone's
health, lifestyle and culture. EPSRC works alongside other
Research Councils with responsibility for other areas of
research. The Research Councils work collectively on issues
of common concern via research Councils UK.
ENDS
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