Global law firm Eversheds has advised the University of Manchester on the signing of a commercialisation agreement with IP Group, a developer of intellectual property based businesses.

Under the agreement, which has been agreed for a minimum of four years, the IP Group will create a Proof of Principle (“PoP”) funding facility for the identification and formation of new spin-out companies. This facility will be operated by the University’s technology transfer company, the University of Manchester Innovation Group (UMI3,) which will also provide capital to the new PoP projects.

The Eversheds team, led by Partner Mark Satterly, advised the University on the corporate and commercial aspects of the agreement.

Mark said:

“This is an exciting venture for the University of Manchester which has a long history of excellence in research and innovation. This agreement will enable the University to further grow its ancillary activities and continue to cement it’s reputation for ground breaking innovation.”

Clive Rowland, CEO of the University of Manchester Innovation Group, said:

“A far horizon of proof-of-principle and connected follow-on funding is critical to the success of university propositions, as is a deep understanding of early stage technology investing which makes IP Group an ideal partner for us. I’m sure that this arrangement will be successful in improving the scale, quality and speed of companies spinning out from the University. The experience and professionalism of the Eversheds team in helping us throughout this process has been invaluable. ”

http://press.eversheds.com/Press-releases/Eversheds-advises-University-…