IP2IPO Group plc (AIM: IPO) ("IP2IPO"), the intellectual property commercialisation company, is pleased to announce that Modern Biosciences (MBS), its specialist life science intellectual property (IP) in-licensing subsidiary, has entered into a Memorandum of Understanding with The University of Manchester relating to the commercialisation of drug related IP.
The University of Manchester is one of the leading centres for life science research in the UK. In the past this has led to a number of successful spin outs such as Neutec Pharma plc, Renovo Limited, Gentronix Ltd, AI2 Ltd and Medeval Ltd and licences to major corporations.
Under the terms of the agreement, MBS will work with The University of Manchester to identify and assess drug related investment opportunities arising from research carried out across the University. It is intended that MBS will provide investment for suitable opportunities and also take on responsibility for the development and commercialisation of the appropriate IP. MBS will enter into royalty sharing agreements with the University and the relevant academic research group.
The University of Manchester is one of the leading centres for life science research in the UK. In the past this has led to a number of successful spin outs such as Neutec Pharma plc, Renovo Limited, Gentronix Ltd, AI2 Ltd and Medeval Ltd and licences to major corporations.
Under the terms of the agreement, MBS will work with The University of Manchester to identify and assess drug related investment opportunities arising from research carried out across the University. It is intended that MBS will provide investment for suitable opportunities and also take on responsibility for the development and commercialisation of the appropriate IP. MBS will enter into royalty sharing agreements with the University and the relevant academic research group.
Dr Alex Stevenson, Chief Operating Officer of Modern Biosciences, commented: "We are very pleased to have entered into this agreement with The University of Manchester. Having reviewed a number of opportunities from the Universitys pipeline, we are confident of being able to add value to the outstanding research in drug discovery that is being carried out and look forward to working with the University to achieve this. This is a good example of the way in which MBS can work with research institutions, providing an alternative channel from the lab bench to industry for drug related IP.
Mr Clive Rowland, Chief Executive of The University of Manchester Intellectual Property Limited (UMIP), commented: The University is very pleased to conclude this agreement with Modern Biosciences. It further strengthens our dynamic enterprise and entrepreneurial activities for which Manchester is well known. We look forward to working with Modern Biosciences in commercialising drug related research thereby realising further value for the University and its staff.
For more information please contact:
IP2IPO Group plc 020 7489 5200
Alan Aubrey, Chief Executive Officer
Modern Biosciences 020 7489 5225
Alex Stevenson, Chief Operating Officer
Buchanan Communications 020 7466 5000
Tim Anderson, Mark Court, Mary-Jane Johnson
The University of Manchester 0161 606 7216
Dr Rich Ferrie, Senior Business Manager, UMIP
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MODERN BIOSCIENCES ENTERS INTO A MEMORANDUM OF UNDERSTANDING WITH THE UNIVERSITY OF MANCHESTER 
