Amphion Innovations plc Signs Memorandum of Understanding with University of Manchester Spinout Myconostica Ltd.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Amphion Innovations plc (LSE LSE - Language Sensitive Editor :AMP)("Amphion"), the developer of technology and life sciences businesses, announces that it has signed a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (MoU) with Myconostica Ltd which grants Amphion an exclusivity period in which to agree final terms on an investment in Myconostica as its next Partner Company. Myconostica is a spin out of the University of Manchester The University of Manchester is a university located in Manchester, England. With over 40,000 students studying 500 academic programmes, more than 10,000 staff and an annual income of nearly £600 million it is the largest single-site University in the United Kingdom and receives , with close links to other leading research institutions in the US and Europe, which is developing products focused on the more speedy, accurate and cost effective diagnosis of infectious diseases infectious diseases: see communicable diseases. . Amphion CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Richard Morgan Richard Morgan may refer to the following people:
"In partnership with Amphion, this company will become a leading supplier of a new generation of diagnostic tools that will provide more accurate diagnosis and in a fraction of the time currently required. This is a great market opportunity which will also provide enormous benefits to patients worldwide and we look forward to working with Myconostica to finalise Verb 1. finalise - make final; put the last touches on; put into final form; "let's finalize the proposal" finalize, nail down, settle terminate, end - bring to an end or halt; "She ended their friendship when she found out that he had once been convicted of terms in the next few weeks." Clive Rowland, CEO of UMIP (The University of Manchester Intellectual Property Limited), said, "UMIP is delighted to be developing a partnership with Amphion whereby Amphion will bring its expertise and networks to bear on the funding of Myconostica. This is another example of the dynamic arrangements for spin-out development which is a feature of The University's technology transfer success story." Note to Editors: About Amphion Innovations: Working in partnership with universities and corporations seeking to commercialise their intellectual property, Amphion Innovations plc utilises a proven company creation and building process, staying deeply involved with their partner companies before seeing them through to a public offering or trade sale. This process has helped to build a group of companies including Celgene (Nasdaq: CELG, currently valued at more than $13B), MediSense (formed from intellectual property developed at two UK Universities and subsequently sold to Abbott Labs for $920M), and Vortech (medical imaging company, acquired by Kodak). Amphion currently holds a large stake in each of seven partner companies, is continually evaluating new opportunities, and expects to add one new partner company during 2006. On the Web: www.amphionplc.com About UMIP The University of Manchester Intellectual Property Limited (UMIP) is the managing agent of The University of Manchester for intellectual property commercialisation. UMIP's role is to enhance the scale and quality of the University's intellectual property development and commercialisation activities. UMIP works in highly positive relationships with researchers, entrepreneurs, business people, professional advisers and investors to achieve its goals. |
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