Business
New University Agreement
New University Agreement.
About this update from Frontier Ip Group Plc
[{"type":"text","content":"\n \nRNS Number : 3083H Frontier IP Group plc 26 May 2011 \n \n\n \nAIM: FIPP\n \nFrontier IP Group Plc\n(\"Frontier IP\" or \"the Company\")\n \nIP Commercialisation Relationship with University of Plymouth\n \nFrontier IP (AIM: FIPP), which specialises in the commercialisation of university intellectual property (\"IP\"), is pleased to announce that it has been selected as the University of Plymouth's (\"the University\") IP commercialisation strategic partner following a competitive tender process. The Company has entered into a 10-year IP commercialisation agreement with the University, with a mutual option to extend for a further 10 years.\n \nUnder the terms of the agreement, Frontier IP will assist the University in the commercialisation of its IP across all faculties. In return for its advisory services, Frontier IP will receive a share of the income from all new licences and a percentage of the equity in each new spin-out company. The University of Plymouth is Frontier IP's third university partner, in addition to the University of Dundee and Robert Gordon University, Aberdeen.\n \nThe University of Plymouth is ranked as one of the top 50 research universities in the UK and 80 per cent. of its research has been judged \"of international repute\" *. In particular, the University has a world-class reputation for its research in marine sciences (operating Europe's largest marine institute), medical sciences, computer science and informatics and environmental sciences. It has a well established reputation for fostering innovation and has sought to build strong links between its research activities and industry. An early focus for Frontier IP will be the University's plans for a Centre for Translational Bio-Medicine.\n \nNeil Crabb, Frontier IP's Executive Chairman, commented, \n \n\"We are delighted to have signed this agreement with the University of Plymouth. The University has a reputation for excellence in its research and we believe that there are exciting opportunities to aid the commercial development of some very interesting research projects.\"\n \nProfessor Wendy Purcell, Vice-Chancellor of the University of Plymouth said,\n \n\"We are delighted to be working with Frontier IP who bring us additional expertise in commercialising intellectual p...