Spin-off firm signs £800,000 deal
Freitag, 20 November 2009
A licensing deal worth approximately £800,000 has been signed between a Sheffield-based university spin-off specialist and a major international orthopaedic firm.
The deal means the orthopaedic company will be able to use a piece of planning software developed by a team at Sheffield University.
Fusion holds an intellectual property agreement with the university which means that they license university-generated ideas and receive half of the net income from any benefits.
The firm also recently sold a 20% stake to national company IP Group, which is a market leader in the commercialising of university intellectual property, in exchange for 3.2m investment.
Chief executive of Fusion, David Baynes, told the Business Desk: "This licence deal demonstrates the value of our pipeline and endorses our ability to extrapolate real value from university research.
"The one-off licence income for Fusion totalled just over £400,000 and we hope this will be the first of many licence deals in Sheffield, as we build towards our target of covering Fusion's on-going overheads from licence income by 2011/12."
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