Fusion IP profits from research

UNIVERSITY research commercialisation firm Fusion IP has seen revenues and portfolio returns increase by more than one third.

Pre-tax profits at the Sheffield-based company stripped out of spin out costs rose 68% to £4.2m with Fusion IP recording an overall pre-tax profit of £1m, a turnaround from a £1.6m loss the previous year.

Fusion IP has exclusive deals with the University of Sheffield and Cardiff University to develop their research into business opportunities.

Fusion IP chief executive David Baynes said: “We are pleased to announce another successful year for the group, one in which we have increased revenue, portfolio returns, and EBITDA.

“The value of our portfolio has continued to grow and we anticipate we will be able to demonstrate this further in the current financial year, and remain focused on achieving our first cash realisation. We look forward with confidence.”

Fusion IP’s portfolio of interests includes Sheffield-based Simcyp which provides modelling and consultancy services to the pharmaceutical industry. The company has seen turnover grow by a quarter in the last year to £4.7m.

Fusion IP now has 20 firms in its portfolio together employing more than 250 people.