Fusion IP secures ‘first significant exit’
PHARMACEUTICAL modelling firm Simcyp is to be sold to US drug development software company Certara in a deal valuing the business at around £20m.
The deal for the Sheffield company is expected to earn Fusion IP, the intellectual property commercialisation firm also based in the city, around £4m for its 20% stake.
Fusion IP has the rights to intellectual property developed at the University of Sheffield and works to turn those ideas into viable commercial businesses.
Chief executive David Baynes said: “We are delighted to announce our first significant exit from our growing portfolio of companies.
“Simcyp is a world-class software company and the 200 fold return we have made on our investment amply demonstrates the excellence of our university pipeline agreements and the value that can be extracted from these exclusive relationships.”
Simcyp, a spinout from the University of Sheffield in 2001, made a post-tax profit of £1.9m for the year to the end of July.
Fusion chairman Doug Liversidge said: “We would like to take this opportunity to thank the management and staff of Simcyp, who have built this excellent company since our first involvement in 2005.
“During this time, they increased profits and turnover in every year of our association with them and we wish them and the newly combined company every success for the future.”
