Update: Grist to the mill
Innovations has committed £23.4m into two of its leading portfolio companies in recent weeks. Cell Medica and Veryan now have fresh funds, £50m and £18m respectively, to advance the development and commercialisation of their respective cancer immunotherapy and vascular stent technologies. In turn, should they prove successful, significant uplifts in the relatively modest carrying values of these companies in the next couple of years could be expected. With £176.5m in cash/investments available at 31 July 2014, Innovations is putting its capital to work.
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