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Angle
- BY: Andrew Hore |
- POSTED: 26/07/2010 |
- COMMENTS: Add yours
Technology consultancy and investment company Angle says that its portfolio company Geomerics has agreed a corporate partnership with one of the world’s leading technology companies.
The partner will invest up to £2.3m in Geomerics, of which £1m is dependent on milestones being achieved.
Angle currently owns 47% of Geomerics, which has developed software called Enlighten that improves lighting in computer graphics. This deal should still leave Angle with more than 30% of Geomerics.
This latest deal follows news that 25%-owned NeuroTargets’ partner in developing neuropathic pain therapeutic molecules has gained additional finance from Wellcome Trust. The University of Bristol is investigating galanin, which is a protein used by nerve cells to communicate with each other, in order to develop treatments for neuropathic pain. Wellcome Trust has provided a total of £4.3m for this development.
At 29.75p a share, Angle is valued at £8.07m. The Geomerics stake was valued at £2.2m in the accounts for the year to April 2010.
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