Sign In
NewsRadar

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.

   


Amphion Innovations, plc - Creation of a Gulf-based Joint Venture


16 January 2007, London, UK – Amphion Innovations plc (“Amphion”), a builder of companies in life sciences and technology, today announces that it has signed a Heads of Agreement with a Gulf-based investment company, MS Holdings, backed by the Al-Sayer and Al-Mutawa families of Kuwait, to create a Gulf-based joint venture, MSA Investors (“MSA”).

The Gulf Cooperation Council countries of the Arabian Gulf now represent the fastest growing economy after China and India. Building on Amphion’s company-building strategy and its long-standing ties to the region, the joint venture’s objective will be to create new markets and strategic partnerships for Amphion’s Partner Companies, identify new investment opportunities in the region in areas of particular Amphion expertise and provide strong access to capital and opportunities from both existing and new Gulf investors.

Under the Heads of Agreement, Amphion commits to the formation and incorporation of MSA and to the establishment and operation of two additional companies to be managed by MSA, Saydanah and Suvani. Amphion’s Gulf partners have committed US$1 million to the creation of these companies and additional investment upon their completion.

Saydanah is being established by our partners in the region in order to bring “functional foods” to a sizeable and wealthy Arab market. Saydanah will be built upon Amphion’s experience and expertise in the field of nutrigenomics, a science that identifies foods that alter gene expression for better health, through its Partner Company, WellGen.

Suvani, which has previously been incorporated by Amphion, is currently providing skilled software and technology support services from India to Amphion Partner Companies, Motif and FireStar. Under the Heads of Agreement, Suvani will be merged with a Gulf-based radio frequency identification company (RFID), to be developed by MSA, with the aim of servicing a growing Gulf RFID market. It is expected that the new company will acquire an exclusive right to distribute the products in the Gulf of Amphion’s Partner Company, Axcess, a leading RFID company.

The Gulf partners have committed to provide an additional US$3.5 million to fund the further development of MSA and its companies upon their formation. Amphion will also transfer 500,000 shares in Motif to MSA in return for a 50% interest in the new Company. Following its initial capitalization, MSA will have an estimated enterprise value of $10 million.

MSA is expected to be formed no later than 1 March 2007. In the event that MSA is not formed, then MSA shall invest the US$1 million by way of subscribing for 166,667 shares in Motif, and investing US$500,000 in the Gulf-based companies to be formed by Amphion in the future.

Richard C.E. Morgan Amphion’s Chief Executive Officer states:

“The last several years have seen dramatic economic development in the Gulf, which has been matched by rapid growth in the region’s capital markets. While the region is relatively rich in capital and in talented people, there is little experience of building companies based on cutting edge technology. With Amphion’s 20 year history and track record of investment and close relationships in the Gulf region, we look forward to bringing our core strategy of building strong companies with solid intellectual property to the Gulf.”


For further information please contact:
Amphion Innovations plc
Josh Berkman, Media Relations
+1 (646) 747 7158

Financial Dynamics
John Gilbert
+44 207 269 7169


About Amphion Innovations plc
Amphion Innovations plc is listed on the AIM Exchange in London under the symbol AMP. Amphion's business is the formation, financing, management and development of life sciences and technology companies, primarily in the US and UK, working in partnership with corporations, governments, universities and entrepreneurs seeking to commercialize their intellectual property. Amphion’s management team has built more than 3


Publisher Contact Information:

Amphion Innovations UK, Ltd.
+1 (646) 747 7158
-

Company profile of Amphion Innovations UK, Ltd.
Past press releases of Amphion Innovations UK, Ltd..

Data


27,026
Tech investments
From our Online Data Service
17,443
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Nov 25€24.0MInternet commerce
May 30€15.0MBiopharmaceuticals
May 28€15.0MDiagnostics
May 28€1.3MInternet services
May 25€1.0MOther Software
May 22N/AInternet services
May 20€4.3MArtificial Intelligence

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


May 28
Identiq
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
Nethone
nethone raised over $1 million from innovation nest

Mar 31
CompPair
the fit allocates chf 100'000 to comppair technologies

Jan 29
Yumpingo
yumpingo raises $10m to transform guest experiences in restaurants

Oct 1
The Link App
the link app launches version 2.0





About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.