AFM Invests £2.5m into ULive through MSIF’s Liverpool Seed Fund
18th June 2008
Alliance Fund Managers (AFM) has invested £2.5m through the MSIF Liverpool Seed Fund into a company set up by the University of Liverpool.
ULive Plc has been established to commercialise intellectual property generated by the University’s research activities. The University will now transfer all existing and future IP rights to ULive for a minimum period of 15 years enabling the company to exploit the IP through the development of spin out businesses, and the licensing and sale of technology.
This latest funding follows an initial investment of over £1.5m by the University. The Liverpool Seed Fund will take a 25% stake in the business and the University will retain the balance.
ULive, based at the Liverpool Science Park, was originally formed to hold and manage the portfolio of spin out companies created by the University. Now the company is responsible for the identification, protection, maintenance and commercialisation of all IP owned and created by the University. Run by CEO Alan Sibley, ULive is now looking to expand its resources and will be recruiting a further four staff in the next month.
Mark Fuller, managing director of AFM said: “This is a great opportunity for us to co- invest with the University in the commercialisation of the rich IP it produces. The University of Liverpool is renowned for the level and quality of its academic research and we are confident this will result in many commercial opportunities for ULive to capitalise upon.
“The long-term nature of the IP agreement is extremely attractive and the ULive investment means that the Liverpool Seed Fund effectively will be involved at the heart of every commercialisation project coming out of the University. In addition it provides the potential for all the funds managed by AFM to assist in projects at a later date as they mature.”
Alan Sibley, CEO of ULive said: “ULive’s business plan is focused on the identification and commercialisation of IP from within the University. The additional funding provided by the Liverpool Seed Fund investment will allow the company to accelerate its activities, generate more income and create increased value for the benefit of all the stakeholders including the academics who develop the opportunities.”
University of Liverpool Vice Chancellor, Professor Sir Drummond Bone said: “ULive has been an important part of our strategy to open up the University’s expertise to industry. As an institution focused on research excellence, we are continuously developing innovative technologies. This investment from the Liverpool Seed Fund will support the commercialisation of new opportunities for industry.”
Legal advisors involved in the transaction were Paul Johnson and Paul Kelly of Cobbetts who acted for ULive.
For further information contact Angela White at Merseyside Special Investment Fund on 0151 236 4040 or Angela.White@afm.uk.com
Ends
Back to Liverpool Seed Fund News and Deals
Picture shows Mark Fuller (AFM) Alan Sibley, CEO ULive & University of Liverpool Vice Chancellor, Professor Sir Drummond Bone
Back to Liverpool Seed Fund News and Deals