University of Bristol spinout company announces £2m funding

University of Bristol spinout company announces £2m funding

[Posted on 19 February 2007]

Mostyn, Wales - Revolymer Ltd ("Revolymer" or the "Company"), a rapidly growing polymer company and spinout from the University of Bristol, today announced the completion of a £2m financing round. The investment is being led by Swarraton Partners with co-investors Top Technology Ventures, the venture capital subsidiary of IP Group plc ("IP Group"), IP Venture Fund, IP Group's new venture capital fund and the Management Team. Revolymer will use the proceeds to continue development of its proprietary polymers in detergents, coatings and drug delivery.

Revolymer is also pleased to announce the appointment of Stephen Brooke, Managing Partner of Swarraton Partners, as a non-executive director of the Company as well as the expansion of its management team with Dr Matthew Leach joining as Development Director and responsible for Revolymer's technology centre in Mostyn.

As part of this financing round, Revolymer reached a key milestone and the intellectual property licensed from the University of Bristol will be assigned to the Company. The Company will continue to invest in research at the University which it considers as a key part of its development. Revolymer obtained seed funding in February 2006 with investments from IP Group and SULIS.

Roger Pettman, Chairman and Chief Executive Officer of Revolymer, said: "I am delighted that Swarraton has joined the Company and welcome Stephen Brooke to our Board of Directors where he will be a valuable asset in helping the Company move forward through its commercialisation process. Our continued support from IP Group, who have been strong supporters of the Company with Top Technology co-investing, is a vote of confidence in the management team and we're delighted to continue our close collabortion with IP Group."

Stephen Brooke, Managing Partner of Swarraton Partners, said: "I have been following the Company for some time and was impressed with the speed with which it has moved from developing technology to developing products. I am excited about working with the Revolymer team and see this round of financing taking Revolymer to the next level in terms of commercialising its products and building out the business."

James Lancaster, Technology Transfer Team Leader at the University of Bristol concluded, "Revolymer just continues to go from strength to strength. Considering the level of industry involvement that the team have achieved, it's easy to forget that the Company was only spun out a year ago."

For further information, please contact:

Roger Pettman
Chairman and Chief Executive Officer, Revolymer Ltd
Tel: +44 7919 9125 80
Email: Roger.Pettman@Revolymer.com
www.revolymer.com

Sadia Haq
Research and Enterprise Development, University of Bristol
Tel: +44 (0)117 928 8676
Email:sadia.haq@bristol.ac.uk
www.bristol.ac.uk/research