Fusion directors join board of Welsh £100 million investment fund, Arthurian
Fusion IP plc, the university IP commercialisation company that turns world class research into business, is pleased to announce that David Baynes and Peter Grant, as representatives of Fusion, are to join the board and investment committee of the new Welsh £100 million life sciences investment fund, Arthurian Life Sciences (”Arthurian”).
Arthurian has attracted a range of internationally respected industry figures to the board, who will assist Arthurian and the Welsh Government in realising its vision of creating a vibrant Life Sciences sector based in Wales. Other board members include former Director-General of the CBI, Sir John Banham, former Cabinet Minister Lord Hutton, Professor Trevor Jones, Director General of The Association of the British Pharmaceutical Industry (ABPI) and former Board Director of the Wellcome Foundation and Sir Christopher Evans, who will lead the board, as Chairman.
Arthurian will provide discretionary fund management services to the £100 million Wales Life Sciences Investment Fund.
As a key generator of start-up companies in Cardiff, through its exclusive commercialisation agreement with Cardiff University, Fusion’s portfolio of life science companies are ideally placed to benefit from access to this fund. David Baynes will join the Arthurian board as non-exec director and Peter Grant will join the Arthurian investment committee.
David Baynes, Fusion’s CEO said:
“This is a major step forward for the Welsh life science sector. As an established investor and creator of a number of Cardiff University-based companies, the scale of the Arthurian fund will enable Welsh- based life science start-ups to access a level of funding that competes with the more established funds, based in London and overseas.
Fusion is therefore delighted to be represented on the Arthurian board and expects to both contribute significantly to its deal flow and co-invest in any Fusion related start-ups.
We believe the future health of the UK economy lies in its ability to develop and exploit university- based research, where we remain a world leader. The new Arthurian £100 million investment fund and its vastly experienced team, is a huge boost to Wales ability to compete and develop its life science economy.”
Sir Christopher Evans, founder and Chairman of Arthurian said:
“Fusion and its partnership with Cardiff University, one of the UK’s leading research institutions, brings both on the ground experience of developing innovative life science research, as well as access to a world class IP pipeline.
The arrival of Arthurian in Wales marks the dawn of a new and exciting era and signals an exciting start to 2013.
Arthurian has a vastly experienced, internationally renowned Board of Directors, comprised of individuals from the public and private Life Sciences sector and from the world of international fund management, business, commerce and government. The Arthurian team currently manages, advises and consults to billions of pounds of assets in private equity and traditional investments. In particular for life sciences, the total of investments raised individually by members of the team exceeds £7 billion, co-investment in transactions executed by the team exceeds £6 billion, and exits of over £10 billion have been secured.
I am delighted to have such a team at the disposal of the Life Sciences sector in Wales.”