Imperial Innovations Group plc (AIM:IVO, ‘Innovations’), the leading technology commercialisation and investment company and S.R.One Ltd, GlaxoSmithKline’s venture captial fund, announce today that they have led, alongside co-investor UCL Business PLC (UCLB), an £850,000 seed financing for Puridify, a newly formed company providing purification solutions for biotherapeutic manufacturing.
Puridify’s technology was developed in the world-leading Advanced Centre for Biochemical Engineering at UCL (University College London). UCLB, the technology transfer office for UCL, licensed this technology to Puridify in 2014. It was the winner of the 2013 OneStart competition (founded by SR One and the Oxbridge Biotech Roundtable, http://www.oxbridgebiotech.com/onestart), which is designed to encourage young entrepreneurs. The company has received additional matched-funding awards totalling £780,000 from the UK’s innovation agency, the Technology Strategy Board, to support advancement of the technology.