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11:30 am, February 8, 2010
University fund invests in pest control firm
MTI Partners, the firm running the University of Manchester Intellectual Property Company's Premier Fund, UPF, has invested £1m into environmentally-friendly pest control products firm Exosect.
The fund mainly focuses in spin-outs from the University's academic departments but alos has a remit to invest in non-university companies that “have synergies with other investments from the Fund and with MTI's sector specialisms”. It has therefore put in £1m as part of a £2.25m injection into Exosect based near Eastleigh in Hampshire to help the firm bring new products to market.
The firm has received more than £5m of investment in the last two years but is ready to launch its first product - a moth control product for the food production sector called Exosex SPTab – later this month.
David Ward, Managing Partner at MTI, said: “I am impressed by the broad and intense interest being shown in the Exosect technology by the major agrochemical companies and others. Most importantly as an investor, it is exciting to see the potential deal flow that is being lined up over the coming months.”
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