Touchstone Innovations invests £2.9m in Abzena

Maryam Cockar Sharecast | 21 Apr, 2017 16:10 | | |

money pound cash
  • 275.00
  • -1.35%-3.75
  • Max: 278.75
  • Min: 278.75
  • Volume: 2,399
  • MM 200 : n/a
17:17 22/09/17
  • 10,410.48
  • 0.92%94.78
  • Max: 10,415.22
  • Min: 10,259.39
  • Volume: 0
  • MM 200 : n/a
17:30 22/09/17

Technology commercialisation company Touchstone Innovations, which was spun-out from the Imperial College London, has invested £2.9m in the £25m placing of portfolio company Abzena.

Innovations first invested in Abzena, formerly Polytherics, a technology provider to the biopharmaceutical sector, in 2007 having led a £2.3m investment round into the company.

With the investment, the AIM-listed company has increases in stake in Abzena to 16

Before the placement, Innovations held a 19.7% stake in Abzena and following the placing it has decreased to 16.9%.

Touchstone chief executive Russ Cummings said:"We continue to be enthusiastic supporters of Abzena and are pleased to take part in this placing which will give the company the firepower it needs to capitalise on the growing international demand for its proprietary technologies and services.

"We are delighted by the investor support for this placing and the broadening of Abzena's share register."

Shares in Touchstone Innovations were down 2.65% to 303p at 1304 BST.

More news

22 Sep Europe close: Stocks finish higher on strong PMI readings

Stocks on the Continent finished mostly higher on the back of strong survey readings on the euro area's manufacturing and services sector and ahead of the German general elections at the weekend, although fresh barbs from Pyongyang were a drag on sentiment.

22 Sep Thousands of steel workers protest ThyssenKrupp merger in Germany

Thousands of steel workers gathered in Western Germany on Friday to protest the proposed merger of ThyssenKrupp and Tata Steel's European operations which was expected to result in approximately 4,000 job losses.

22 Sep London Close: FTSE firmer as pound losses ground after May speech

London stocks had reversed earlier losses to trade a little higher by Friday's close, helped along by a weaker pound as investors weighed up a key speech by Prime Minister Theresa May.

22 Sep JP Morgan Chase to establish global headquarters in Warsaw

Polish Deputy Prime Minister Mateusz Morawiecki announced on Friday that US bank JP Morgan Chase had picked Warsaw to play host to its new global operations centre, bringing thousands of jobs to the region from the beginning of 2018.

22 Sep FTSE 250 movers: Pets at Home dashes higher, oilers also lifted

The FTSE 250 index was on the front foot on Friday, led by retailer Pets at Home and a group of oil-related companies.

22 Sep Theresa May calls for post-Brexit transition period, new security treaty

In a speech in Florence on Friday, Prime Minister Theresa May confirmed that she wanted a two-year "implementation period" post-Brexit and a new treaty with the European Union on security and justice.

22 Sep FTSE 100 movers: Johnson Matthey rallies again but Smiths drops on results

London's FTSE 100 was up 0.6% to 7,305.66 in afternoon trade on Friday as investors mulled over PM Theresa May's Brexit speech in Florence.

22 Sep Results round-up

Saga, the specialist provider of products and services for those over 50, reported solid growth of 5.5% in underlying profits before tax for the first half as it ordered a second new cruise ship amid high demand.

22 Sep US economy shows resilience in face of hurricanes - Markit

Business activity in the US picked up in September despite hurricanes Harvey and Irma, as growth in the manufacturing sector helped to offset an easing in services, according to preliminary data released on Friday.

22 Sep Thalassa suspends share buyback as FairfieldNodal commences due diligence

Thalassa Holdings confirmed the suspension of its share buyback programme on Friday, as a suitor continued to circle the marine geoscience and subsea robotics company.