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IP Group raises stake in non-stick gum firm

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Date: Wednesday 07 May 2008

LONDON (ShareCast) - A company developing non-stick chewing gum has successfully raised £10m to bring the product to market, with £800,000 coming from intellectual property firm IP Group.

Following completion of the financing round, IP Group has an 11.2% beneficial stake in Revolver, valued at £3m.

Revolver, a spin-out company from the University of Bristol, has developed a polymer technology that has the potential to prevent gum from sticking to pavement and other surfaces, a problem which costs local government millions of pounds annually to clean-up.

Top Technology venture, a subsidiary of IP Group, invested £800,000 in the financing with the remaining £9.2m raised from institutional and private investors.


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