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Press releases — 15 April 2003

DESIGNER POLYMERS COMPANY RAISES £360,000 THROUGH BUSINESS ANGEL INVESTORS

Warwick Effect Polymers Ltd, a spin-out company from Warwick University that is exploiting innovations in polymer synthesis for use in applications from hairspray and inkjet printer ink to anti-obesity drugs, has secured £360,000 of funding with the help of The Oxfordshire Investment Opportunity Network (OION), Europe's most successful business angel network.

Warwick Effect's patented "living and controlled radical polymerisation" allows the production of complex polymers under greater control than the conventional polymerisation techniques used in most laboratories. WEP is positioning itself as a provider of polymerisation technology to the Bioscience and Materials sectors.

Professor David Haddleton, Founder and CEO of Warwick Effect, said:

"Our polymerisation process means that designer polymers can be made in an efficient and cost effective manner. Traditional production methods for designer polymer synthesis require extremely pure chemicals and expensive, sub-zero temperatures. Our process avoids both of those problems by using a combination of a copper catalyst and a ligand, which allows the polymers to be produced at room temperature to plus 150 C. We can produce complex polymers to specific designs and have begun to produce to order for high-value applications such as inkjet printer ink, hairspray, shampoos, adhesives, pharmaceuticals, biomaterials and medical devices for a range of multinational companies including Unilever, CellTech and, Avecia."

Professor Haddleton praised the role played by The Oxfordshire Investment Opportunity Network (OION) in matching him with investors:

"Warwick Ventures, the technology transfer company of Warwick University, put us in touch with OION. We made a pitch at an OION presentation meeting and raised £180k funding directly through OION's investors. This initial success had a knock-on effect as it quickly enabled Warwick Effect to attract a further £180k, from the Mercia Fund and one of our current shareholders, who were enthused by OION's investors. We have used the finance to fund the move to our own laboratory on the Warwick University Science Park which is now fully equipped and operational as a state-of-the-art facility."

Alastair Cavanagh, Manager of OION, said:

"The Oxfordshire Investment Opportunity Network (OION) specialises in helping innovative technology companies to raise finance of up to £1M to develop into profitable businesses. As is the case with Warwick Effect Polymers, the companies are often university spin-outs and OION is uniquely positioned to help them. OION holds regular joint presentation meetings and has strong links with universities that have a reputation for spinning out quality technology companies, such as Warwick, Oxford, Bristol, University College London and Imperial College London. Our investors were attracted to invest in Warwick Effect because its technology offers a wide range of potential applications to customers in many different market sectors."

Press Release Ends

NOTES FOR EDITORS

Press enquiries to: Margaret Henry, OION PR Manager.
Tel: +44 (0)1865 811199  E-mail: Margaret Henry

  1. ABOUT OXFORDSHIRE INVESTMENT OPPORTUNITY NETWORK (OION) www.oion.co.uk

    Oxfordshire Investment Opportunity Network is Europe’s most successful technology business angel network that links investors with entrepreneurs seeking business development funds from £150,000 to £2m. OION holds monthly meetings where selected companies can pitch their proposals to OION’s members, which include over 150 active business angels, VCTs and venture capitalists.

    Many of these companies are university spin-outs and OION is uniquely positioned to help them. OION holds regular joint presentation meetings, and has strong links with, universities with a reputation for spinning out quality technology companies such as, Warwick, Oxford, Bristol, University College London and Imperial College London.

    OION is managed by Oxford Innovation Ltd (www.oxin.co.uk), the UK’s leading operator of innovation centre premises for start-up companies, and sponsored by HSBC, Grant Thornton, Laytons, Frank B Dehn & Co, NESTA and Business Link.

  2. Warwick Effect Polymers Ltd

    Press enquiries to: Professor David Haddleton, Chief Executive, Warwick Effect Polymers Ltd
    Tel: +44 (0)24 7652 3256 E-mail: d.m.haddleton@warwick.ac.uk
    Website:www.warwickeffectpolymers.co.uk

  3. Warwick Ventures Ltd

    Press enquiries to: Ederyn Williams, Director, Warwick Ventures Ltd
    Tel: +44 (0)24 76 323313 E-mail: ventures@warwick.ac.uk
    www.ventures.warwick.ac.uk