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Projects launched by the founders of Science Ventures
• Founded in 1998 and was granted by Billy
Harkin (for the University of Glasgow) a licence to 'FHD' technology
(a technology developed by Dr Jim Bonar and others). Armed with
this pivotal technology Kymata became a technology leader providing
next-generation planar and micro-electromechanical systems-based
integrated optical components for the networking industry. Billy
sat as the Board of the fledgling Kymata for this first two years.
• Based in Livingston, Scotland and this fastest to date
growth-rate technology company in Scotland employed over 500 persons
split over its six North American and European locations.
• October 2000 - secured a $67 million round of additional
funding.
• March 2000 - secured $75 million of funding from Kleiner
Perkins Caufield & Byers, Bowman Capital which led the funding
with 3i, TeleSoft Partners and ComVentures and existing investors
such as ACT Venture Capital.
• Announced two acquisitions of technology companies in the
Netherlands, at a Kymata stock value level of $1b.
• Kymata in-licensed a key IBM-owned technology in return
for Kymata stock to broaden its technology base.
• 2001 - International technology market crash and Public
market effectively closed.
• July 2001 - Alcatel Optronics, a world leader in optoelectronic
components for telecommunications systems acquired Kymata in exchange
for Alcatel shares valued on announcement at €134 million
• The University's held an equity interest of 3 per cent
in Kymata at the time of its sale to Alcatel.
• 2000 - 2001 a series of new high-value
licence deals were completed internationally to expand the income
from this long established University of Glasgow technology (technology
developed by Prof Peter Macfarlane.)
• The portfolio of activity, including licences with renowned
partners such as Siemens and Burdick, has effected the adoption
within thousands of patient monitor machines around the world and
has raised the project to the 'all time number one' licence income
generator for the University.
• November 1999 - Audiomedix was formed to exploit and develop
a selection of medical device technologies from the University of
Glasgow (technologies developed by Prof Gavin Kenny and others.)
• Audiomedix current portfolio includes:
¨ AepEX : A device to measure the consciousness of a patient
under anaesthesia. AepEX is today being made available as:
AepEX Total - a module designed for OEM systems
AepEX Fusion - A 'closed loop system' (a combination of Target controlled
Infusion device+ AepEX) to automatically deliver intravenous anaesthesia
at a targeted rate, under the control of depth of consciousness
monitor.
¨ Xfusor: a device with target controlled infusion technology
licence from the University of Glasgow to deliver drug molecules.
• 2002 - Audiomedix secured funding to enable acceleration
of product development and regulatory approvals.
• Aug 2002 - Audiomedix secured further substantial funding
to enable a USA company launch and allow the opportunity of an IPO
in early 2003.
• Launched in June 2001 - secured £9.8
million of equity and debt financing in an initial round from 3i
and ACT Capital Partners to commercialise its unique fabrication
technology for photonic integrated circuits (a technology developed
by Prof John Marsh, Dr Craig Hamilton and others.)
• Intense Photonics is based in Hamilton, Scotland having
taken over a state-of-the-art Du Pont fabrication facility. Current
staff level is 45 personnel.
• Intense Photonics' approach is based on a breakthrough
optoelectronics technology that addresses both the short and long-term
needs of fibre communications systems designers. Its technology
is based on a proprietary quantum well intermixing (QWI) fabrication
process for III-V semiconductors.
• Between them the Intense Photonics' team of experts assembled
from university and industry bring some 120 man-years of opto-electronics
experience to the new enterprise. A top CEO, David Lockwood and
the Chairman Ian Anderson (also the Chairman of BT Scotland Plc)
lead the commercial advance of the company.
• Andrew Davison of 3i said at the time their investment
was announced:
"Integration is key to the development of optical communications,
and monolithic IC technologies offer a practical platform for delivering
it. We view Intense Photonics' technology as among those fundamental
to successful evolution of the industry".
• Aug 2002 - Intense Photonics secures a second round funding
of £10.5m from original investors plus Casenove - representing
one of the largest investments of its type in Europe under difficult
prevailing market conditions.
• The University of Glasgow retains a sizeable equity interest
in Intense Photonics.
• November 1999 -C3D was launched to exploit
the 3D image-capture technology developed by the Turing Institute
over ten years at the University of Glasgow.
• C3D Ltd was granted access to the technology from the University
(developed by Dr Colin Urquhart and others.)
• C3D Imaging exploits its image capture technology by a
selection of outputs including providing users of virtual communities
and online games with 'personalised avatars' that are based on an
individual's own 3D shape and appearance.
• Aug 2002 - C3D successfully licensed aspects of the technology
to a strategic partner in England whilst simultaneously repositioning
the C3D company to accommodate additional technologies and market
entries.
• December 1999 -Crusade Laboratories was
formed in partnership between the University of Glasgow and Cancer
Research Ventures Ltd, with funding provided by a private Jersey-based
investor group.
• Crusade Laboratories was built around the research work
of Professor Moira Brown's research group. Professor Brown and her
team developed a mutated Herpes Simplex virus, HSV 1716, a variant
which is able to replicate and kill tumor cells without affecting
normal cell in the vicinity. The company has an exclusive licence
from the University to a portfolio of eight patent families covering
a range of therapeutic approaches based around the HSV theme.
• Crusade Laboratories is developing therapeutic products
for brain, lung, head and neck tumors, melanoma and ovarian cancers.
The clinical trials have demonstrated both in glioma and melanoma,
that HSV1716 replicates in and kills tumor cells selectively with
no known adverse reactions. Crusade is in the second phase of clinical
trials in glioma patients.
• Regulatory approval in Europe for the company's first product
is anticipated in 2004.
• Crusade is driving for a significant share in the cancer
therapeutics market which is estimated to reach $30bn by 2003 and
expected to grow by 12-14% per year.
• Sept 2002 - substantial additional funding secured and
a new research and production facility opened in Glasgow, UK.
• Glasgow University holds a substantial equity interest
in the company.
• May 2001 - APL was formed to develop
and market a unique portfolio of miniaturised molecular, cellular
profiling systems, reagents and bioinformatics tools (a technology
developed by Prof Jon Cooper of Glasgow, Prof Tony Cass of Imperial
College and others.).
• The APL technology harnesses the power of micro-systems
technology with advances in chemistry and molecular biology to market
a range of tools that enable the elimination of unsuitable biological
targets or compounds prior to expensive screening and development
programmes being implemented.
• The company secured a seed round of venture capital investment
of $710k from the Generics Group and Generics Asset Management.
• The company has facilities in Cambridge and Glasgow and
a highly skilled staff of 15.
• APL is being positioned to achieve a significant share
in the biological screening market which is estimated at $7.2bn.
• Sept 2002 - APL is currently seeking to complete a $10m
round-2 funding to continue its aggressive product and business
development programmes.
• Glasgow University holds a substantial equity interest
in the company.
• December 2001 - Essient Photonics secured
a first round of equity financing of $7m led by Pond Ventures Partners
(technology developed by Professor Charlie Ironside of Glasgow and
others.)
• The development was also the first project to win funding
'Proof of concept funding' (POC) from Scotland's economic development
agency 'Scottish Enterprise' and be successfully launch as a university
spin out company.
• Essient supplies components for the optoelectronic industry
based on novel design and manufacture of modulation and detection
equipment. Optical modulators are used in telecommunication systems
to convert electronic data such as phone messages or computer data
into a modulated laser beam for transmission through optical fibres.
Modulator systems presently available require expensive and bulky
circuitry system.
• The Essient product portfolio is well developed and addresses
an initial market opportunity predicted to be in excess of $1.48bn
annually by 2005.
• For close proximity to the principle markets a sales and
marketing function has been created in Dallas Texas.
• A strong product development team of 10 has been assembled
from both industry and academia and is based in premier business
park in central Scotland.
• Glasgow University retains a substantial equity interest
in Essient Photonics Ltd.
• I-Genomics was launched in Q1 2002 and has set its sights
on becoming the premier proteomic company in the market for the
provision of lead products for both Agrochemical and Pharmaceutical
industries.
• I-Genomics exploits its proprietary IPR ('Essential Genes'),
its unique whole brain and cell assays of Drosophila to allow screening
of chemicals acting on the nervous system into successfully targeted
insecticides (technologies developed by Prof Wayne Davies, Prof
Kim Kaiser and others.)
• Insects cause major damage to many valuable crops and animals
through out the world. Control of insects by chemical insecticides
is currently a £10bn market and is expected to remain so despite
advances in genetically modified plants and completely organic approaches
to maximising food and plant production.
• The i-Genomics products, RealTargets™ and Complete
RealTargets™ act as lead chemicals and protein targets packaged
with supporting information and materials to agrochemical companies.
The products can dramatically reduce the risk in insecticide product
development and accelerate the process of bringing new insecticides
to market.
• Sept 2002 - growth funding of £6m is being transacted.
• Q4 2002 - Myatec is the first university project being launched
by the team under the new 'Science Ventures' structure. Myatec has
been structured to offer a complete learning solution for the 'Online
learning and Assessment' sector, in particular in offering to develop
and market e-learning technology solutions and teaching/training
content.
• Myatec provides innovative e-learning solutions including
its patent pending e-learning/online assessment software as a bespoke
solution to schools, colleges, universities, training providers,
governments and professional associations. Myatec will offer a fully
hosted secured managed service for its customers to deliver tests/assessment
and other value-added services through its web site.
• Working with strategic partners Myatec will develop computer
based and web based training (CBT/WBT) courseware that includes
self-paced tutorials for use in any distributed learning environment.
• According to a recent Merrill Lynch analysis total e-learning
spend is projected to grow from an estimated $3.6 billion in 1999
to $25.3 billion in 2003. The e-learning sector of the education
market is extremely young, but is growing at a tremendous pace.
• As with all Science Ventures projects a top class management
team with relevant industry experience is being assembled in readiness
for the launch of the company.
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