Amphion signs Partnership Agreement with Kuwait University
London and New York, 25 November 2009 - Amphion Innovations plc (LSE: AMP) (“Amphion”), the developer of medical and technology businesses, today announces that it has signed a partnership agreement with Kuwait University (KU), the State’s first and oldest University established in the year 1966, for academic and research advancement. This Agreement is aimed at establishing and operating a Technology Transfer Unit (TTU) at KU. This facility will be the first in-house TTU in Kuwait.
Amphion will focus on supporting decision making within the TTU on IP protection. This will include patenting as well as analysing the IP's technical and market value with the key aim of enabling strategic decision making about what, if any, commercialisation efforts are appropriate. Normally, this commercialisation would take place via licensing, but sometimes it may lead to the creation of a new company. Amphion has already been active for many years in commercialising IP in a number of universities in Europe and the US.
Amphion has an established presence in the region, both through its Partner Company Motif BioSciences and its investor base, which includes members of prominent Gulf families. Motif has been active in the region for over 5 years and has on-going projects looking at the genetic patterns behind major diseases relevant to populations in the Gulf, including diabetes, obesity and some types of cancer.
Richard Morgan, CEO of Amphion, said:
“As the range of research outputs from Kuwait University continues to grow in scope and international recognition, establishing effective technology transfer functions becomes increasingly important. Amphion Innovations is excited to be working alongside Prof. Fahed Al-Thaqeb, the Vice President for Research, and Research Administration at Kuwait University in establishing this Technology Transfer Unit and we look forward to announcing further developments in the future.”
For further information please contact
Amphion Innovations plc
Dr. Faisal Al-Refaei, Regional Director, Middle East +965 9999 9560
Charlie Morgan, Director of Communications +1 212 210 6224
Prof. Haitham Lababidi, + 965 9982 8640
Asst. Vice President for Research + 965 2498 5207
Tim Robertson/ Jamie Milton/ Matthew Law +44 20 7930 0777
Charles Stanley (Nominated Adviser)
Mark Taylor/ Freddy Crossley +44 20 7149 6000
About Kuwait University
Kuwait University was established in 1966 to promote scientific and academic achievement. The Research Administration (RA) is responsible for promoting faculty-wide research in humanities, basic and applied sciences. The office is the hub of critical activity, promoting scientific advancement through: programs; priorities; grant awards; productivity; publications and external collaborations/partnerships to foster institutional research that possesses creative excellence, innovation and outputs of social, economic and human value. RA’s current thrust isto build collaborative partnerships with external institutions, encourage priority research, expedite technology transfer, market research outputs, raise funds to support specialized research and accelerate institutional scientific momentum towards global dimensions.
On the web: www.ovpr.kuniv.edu/research
About Amphion Innovations plc
Amphion (LSE: AMP) builds shareholder value in high growth companies in the medical and technology sectors, by using a focused, hands-on company building approach, based on decades of experience in both the US and UK. Amphion has significant shareholding in 10 Partner Companies developing proven technologies targeting substantial commercial marketplaces, each in excess of $1 billion. Each Partner Company is chosen with the goal of achieving an exit valuation in excess of $100 million.
On the web: www.amphionplc.com
About Motif BioSciences, Inc.
Motif BioSciences, Inc. works with a variety of Founder Populations to accelerate discovery of genetic variation involved in common diseases. By applying its expertise and proprietary technology to specific populations, Motif expects to make commercially valuable discoveries on the genetic basis of diseases such as diabetes, asthma, and cancer.
On the web: www.motifbio.com