Published on the 30/05/2017 | Written by Newsdesk
A listed British company which specialises in commercialising university research has made available A$200 million for investment in technology from top universities in Australia and New Zealand…
The University of Queensland has hailed the deal with London-headquartered IP Group plc, which it said in a statement is set to invest in spin-out companies founded on disruptive innovation from research outcomes of Australia’s Group of Eight (Go8) universities – including UQ – and the University of Auckland.
On its website, IP Group said its mission is to evolve great ideas into world-changing businesses.
UQ vice-chancellor and president and Go8 chair professor Peter Høj said IP Group plc had a proven business model. “This agreement is a significant endorsement of the strength and quality of the world-leading research of Australian and New Zealand research-intensive universities,” he said.
UQ, Høj added, is recognised as one of Australia’s leading research universities.
Similar agreements with UK and US universities had a strong track record of success, and the IP Group’s portfolio comprises holdings in about 100 early-stage to mature businesses.
Høj said UQ’s academic research and track record in commercialisation helped attract IP Group plc to ‘pursue investment in companies to be founded on our discoveries’.
There’s plenty of precedent which has no doubt drawn IP Group down under. For example, UQ’s existing commercialisation company, UniQuest, said Høj, has created more than 80 companies that have raised more than A$600 million in capital. These include Spinifex Pharmaceuticals, founded by UniQuest to develop a new treatment for pain, which was recently acquired by Novartis for a potential A$1 billion.
There’s also ResApp Health, which is developing smartphone technology that can accurately and quickly identify respiratory diseases such as asthma, pneumonia, bronchiolitis, croup and chronic obstructive pulmonary disease (COPD); and one to get the anti-vaxxers excited. Vaxxas is pioneering a next-generation needle-free vaccine delivery platform, Nanopatch.
UniQuest CEO Dr Dean Moss said the investment would provide pre-seed and seed funding to develop discoveries into viable commercial opportunities.
“While initiatives such as the National Science and Innovation Agenda and the Biomedical Translation Fund provide access to translational funding for our innovations, there is still a need for funding for earlier stage opportunities to help companies and technologies cross the ‘valley of death’,” he said.
“This agreement will provide opportunities for access to earlier investment to fill this important gap, and ensure more world-changing research innovations have the chance to become a commercial reality.”
