Investments

Companies in which the first London Technolgy Fund invested include the following:

Acrobot -

In September 2010 it was announced that Acrobot® had completed the sale of its business and assets to Stanmore Implants Worldwide (Stanmore), an innovative orthopaedic business focused on design and manufacture of bespoke implants for limb sparing and complex primary and revision joint replacement. Acrobot® provides precision surgical systems for computer-assisted 3D planning, surgical navigation and surgeon-controlled robotic surgery. The goal of Acrobot’s technologies is to provide speed, accuracy and reproducibility, enhancing clinical outcomes, whilst augmenting surgeon skills and facilitating bone conservation and increasing productivity. The company was founded by a team including Brian Davies, Professor of Medical Robotics in the Department of Mechanical Engineering at Imperial College London and Justin Cobb. Justin Cobb is Professor of Orthopaedics at Imperial College London, civilian adviser in orthopaedics to the Royal Air Force, on the staff of King Edward VII Hospital, and is orthopaedic surgeon to the Royal Household. LTF first co-led a syndicate investing in Acrobot in July 2007 and subsequently co-led the syndicate in providing follow-on funding. This funding helped Acrobot to commercialise its Modeller, Planner and Navigator products in orthopaedics and to accelerate development of its robotic bone sculpting system, Acrobot Sculptor. Acrobot was recognised in 2007 by the English Tech Tour as one of the most promising high growth early- and expansion-stage technology companies in the country, being named as one of 24 winners chosen from a pool of nearly 300 candidates. At the time of the sale of its assets, Acrobot's systems were used in Charing Cross Hospital, King Edward VII's Hospital Sister Agnes, The London Clinic, and the Royal Bournemouth Hospital.

For more information, please see latest news, our press release and www.stanmoreimplants.co.uk.

deltaDOT -

deltaDOT Ltd is a life science company that is developing and commercialising innovative enabling technologies for the separation and analysis of biomolecules. It was founded in 2000 and is a spin-out from Imperial College London. deltaDOT's core label free analysis technology, coupled with proprietary software algorithms, forms the technical basis of its products. This label free technology enables higher quality and faster separations compared to existing technologies. The increased performance enables the direct monitoring of unlabelled biomolecules, reducing the cost per analysis compared to conventional methods. deltaDOT addresses biomolecular separation applications within pharmaceutical, biotechnology, biodefence, food and drink quality, forensic science, diagnostic and academic markets. The London Technology Fund participated in a funding round of £6m in March 2006. The company has subsequently announced its participation in a US$11m Phase 2 contract for the US Defense Threat Reduction Agency (DTRA) - Joint Science and Technology Office, Transformational Medical Technologies Initiative (TMTI) to develop technology for accelerated monoclonal antibody and vaccine manufacturing. This contract followed the successful completion of the 12-month Phase 1 contract awarded by the US Defense Advanced Research Projects Agency (DARPA). This was followed by the announcement of a joint venture operation with the Qatar Science and Technology Park, to be based in Qatar.

For more information, please see latest news, our press release and www.deltadot.com.

Dexela -

In June 2011 it was announced that Dexela had been sold to PerkinElmer Inc, a US healthcare technology leader. Dexela is a London-based developer of innovative technologies for fast, low-dose X-ray imaging. Formed in 2005, it initially pioneered developments in tomosynthesis, an advanced imaging technique focused on the early detection of breast cancer. In 2009, Dexela launched a family of flat panel CMOS X-ray detectors for a range of applications including mammography, fluoroscopy, dental CT, cardiology, and non-destructive testing (NDT). These products have been exported to OEMs around the world including Europe, USA, Korea and China. Albion Ventures LLP and LTF led a syndicate which included Nesta, that invested over £3m between July 2008 and January 2009. Investors expect to make up to three times return on their investment.

For more information, please see latest news, our press release and www.dexela.com.

Dynamic IT Management Services -

Dynamic IT Management Services is a supplier of specialist software for the global foreign exchange market. Dynamic is based in London, which is the world's largest centre of foreign exchange activity. The company has developed a trade notification product, TradeSTP, which enables banks and brokers to deliver foreign exchange trade notifications directly to their clients' applications. This system of "straight through processing" offers enhanced speed and accuracy by eliminating the delay and risk of error associated with manual updating. TradeSTP has the potential to be a key component of the service offered to foreign exchange clients by banks and brokers. The company's subsidiary, Logicscope, was voted the Best Post-Trade Services (Non-Bank Provider) in 2008 and 2009 in the annual Profit and Loss Digital Markets Awards. The London Technology Fund led a funding round of £800k in 2006 and has subsequently announced a partial exit. In September 2011 it was announced that the business had been acquired by MarketSERV, a leading electronic trade processing platform for OTC derivative transactions. This completed the funds exit.

For more information, please see latest news and our press release.

Immune Targeting Systems -

Immune Targeting Systems (ITS) Ltd is a London-based biotech company developing synthetic vaccines for mutating viruses. The company's lead programme is a synthetic universal influenza vaccine targeting all potential seasonal and pandemic flu strains. The thermostable vaccine potentially offers a new concept in flu vaccine supply and could represent a major breakthrough for governments wishing to create long-term vaccine stockpiles. Candidates for Hepatitis-B & C, HIV, and HPV-cancer await development funding or partners and the vaccine platform is applicable to a host of other infectious diseases as well as cancers. The London Technology Fund participated in ITS's first significant funding round of £4.5m in July 2007 and a further funding round of up to £8.65m in February 2010. The second funding round will enable the progress of ITS's lead candidate FP-01 through to the completion of phase II proof of concept efficacy studies. LTF was the only UK investor in an international syndicate including Novartis Venture Fund (Switzerland), HealthCap (Sweden) and Truffle Capital (France).

For more information, please see latest news, our press release and www.its-innovation.co.uk.

Intellistream -

Intellistream developed a platform for deploying interactive mobile video applications. This platform, Unistream, was initially developed to operate over the video calling feature built into all 3G handsets, but was expanded to cover IP-based smart-phone handsets (such as those which can use both 2.5G or 3G networks) via a downloaded client. The Company initially targeted the security and safety market offering remote access to CCTV cameras from mobile phones. Possible applications included the corporate security markets, both SME businesses and also as an adjunct to existing large corporate and public security installations, and the domestic security markets. Additionally the Company's technology could be applied to a number of other applications including participation TV and gaming. The London Technology Fund led a funding round of £355k in November 2006. In April 2008 LTF announced the first close of a further funding round of up to £1m and this was followed by the appointment of a new chairman. In early 2010 the company reached a royalty agreement and completed the associated disposal of its assets.

For more information, please see latest news and www.intellistream.co.uk.

Novacem -

Novacem, a spin-out from Imperial College London, is developing a cement which has the potential to transform the cement industry from being a significant emitter of CO2 to being an absorber of CO2. The annual production of over 2.9 billion tonnes of conventional Portland cement is already responsible for 5% of global CO2 emissions, and cement volumes are expected to double by 2050. In contrast to Portland cement, during the manufacture of Novacem cement more CO2 is absorbed than emitted. Novacem estimates that for every tonne of ordinary Portland cement replaced by Novacem cement, around 0.75 tonne of CO2 could be captured and stored indefinitely in construction products. In August 2009, LTF announced it was joint lead in a syndicate which included Imperial Innovations Group plc and the Royal Society Enterprise Fund, together investing over £1m. In March 2010 Novacem was recognised as one of five New Energy Pioneers at the Bloomberg New Energy Finance Summit; in April 2010 it was named as one of the top 10 Emerging Technology companies by MIT’s Technology Review; and in September 2010 it was named a 2011 Technology Pioneer by the World Economic Forum, chosen as one of 31 visionary technology start-ups from around the world who are poised to have a critical impact on the future of business, industry and society. In July 2010 Novacem announced that it had attracted Lafarge as the first subscriber to its "Green Cement Bond", an innovative commercial and financial approach for engagement with major cement manufacturers to accelerate the development of Novacem’s carbon negative cement. In January 2011 LTF announced it had completed a further investment in Novacem. This investment was as part of a syndicate including existing investors and construction company Laing O'Rourke.

For more information, please see latest news, our press release and www.novacem.com.

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