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Press releases — 19 April 2007

Europe’s leading Investment Network celebrates Success

Launch of IQ Capital Fund is Highlight of the Year

Europe’s leading technology business angel network, Oxford Investment Opportunity Network (OION), is celebrating another successful year of helping innovative companies to raise crucial business development finance.

The OION Network is headquartered in Oxford and assists growing companies from across the UK to secure funding from £150,000 to £2 million. Its investor members include individual business angels as well as venture capital trusts and funds.

The funding available through OION’s investors received a boost during the year with the launch of the IQ Capital Fund, a £25 million Enterprise Capital Fund that has a remit to co-invest alongside business angels. OION is a key partner in the IQ Capital Fund which is managed by NW Brown of Cambridge.

Over 100 guests at the Network’s Annual Dinner heard Investment Networks Director, Don McLaverty, announce results showing that OION raised £1 million in the year to 31 March 2007 and helped 13 companies to secure funding. During the last five years, OION has helped over 90 companies raise over £19m.

Recent success stories have included CMP Therapeutics, an innovative healthcare company from the DiagnOx Laboratory at Cherwell Innovation Centre, Oxfordshire, which finalised a €4.5 million funding round after OION brokered a deal with Inventages Capital Investments Inc. CMPT has developed a nasal spray that is a natural treatment for asthma, hay fever, dust mite and other allergies. The deal completed a hat trick for Bruce Savage, CMPT’s CEO and a serial entrepreneur, as it was the third time that he had raised funding for his companies through OION.

Mr McLaverty said: “We’re delighted that OION retains its position as Europe’s most successful technology business angel network that matches investors with high growth companies seeking funding from £150,000 to £2m.

“Success in securing this ‘equity gap’ finance is crucial as it enables businesses to grow to the point where they can attract substantial venture capital funding. We’re therefore also very pleased that through the IQ Capital Fund we can now offer access to an additional source of finance that can gear up angel investment in growing companies.

“I would like to congratulate OION’s manager, Eileen Modral, on her outstanding achievements this year, and also thank our investor members and sponsors for their support.”

Guests at the Annual Dinner, including business angels, serial entrepreneurs and fund managers, also enjoyed hearing Guest Speaker, Sir Robin Saxby, founder and Chairman Emeritus of ARM Holdings plc, describe the challenges of growing ARM from an innovative technology start-up into a global company.

OION is one of three Investment Networks managed by Oxford Innovation, the UK’s leading operator of Innovation Centres. Oxford Innovation manages 13 Innovation Centres providing flexible office and laboratory space for over 400 growing companies.

Press Release Ends

NOTES FOR EDITORS

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

    director of Glotel plc.

  1. Oxford Investment Opportunities 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 helped 13 companies raise £2.5m in the year to March 2005, and during the last five years, has helped 74 companies raise £17.3m. OION holds monthly meetings where selected companies can pitch their proposals to OION's members, which include over 130 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.