Revolymer chewing gum

The IP Group has announced that Revolymer, a spin out from Bristol University, is to successfully complete a £10m financing round.

Wales-based Revolymer was founded in 2005 and is best known for its removable chewing gum after developing a polymer technology, which has the potential to prevent gum from sticking to pavements and other surfaces. This problem costs the UK’s local governments millions of pounds annually in clean-up charges.

The technology also has potential applications in other markets which include medicated gums, personal care products, paints and coatings. Following the completion of the financing round the IP Group have retained an 11.2 per cent beneficial stake valued at £3m.

Funds managed by Top Technology Ventures, a subsidiary of the IP Group, have invested £0.8m. The remaining £9.2m was raised from institutional and private investors.

The fundraising will result in a total fair value gain to the IP Group of £2.3m.