The University of Leeds’ commercialisation partner, Techtran Group, has been acquired by IP2IPO in a deal which values Techtran at £20 million.
Techtran has been the University’s sole technology transfer partner for two years after it signed a deal to provide outsourced commercialisation services in 2002.
IP2IPO, which specialises in commercialising university intellectual property, signalled its interest in Techtran in July 2004, with a £2 million strategic investment. In return, IP2IPO received a 20% interest in Techtran.
According to a statement, the deal ‘heralds the formation of a powerful new combination that will significantly strengthen the University’s research commercialisation activities.’
Techtran’s key strengths are said to lie in early stage technology transfer, company building and business development. So far it has enabled the creation and growth of thirteen spinout companies from the University of Leeds, a wide patent portfolio and a range of licensing deals and industrial partnership agreements.
IP2IPO and the University of Leeds have already entered into discussions with respect to the establishment of a £5 million venture capital fund for University of Leeds spinouts.