Fusion IP, a UK-based commercialisation company, has raised £20m for new and existing ventures, as well as signing Memorandum of Understanding (MOU) agreements with the University of Nottingham and Swansea University.

The funds were raised through the issue of 36,363,637 shares of 1p in the firm at a price of 55p a share to both new and existing shareholders. The firm plans to use the funds to continue investment in its portfolio companies, whilst simultaneously providing financing for new start-ups.

Fusion has also said that it will use the funds to support new companies utilising IP commercialised from both Swansea and Nottingham. The firm already has existing MOUs with the University of Sheffield and Cardiff University, and is actively pursuing new partnerships.

Fusion currently holds shareholdings in over 20 portfolio companies, and saw its first major exit last year when it sold drug simulation platform Simcyp, spun-out of Sheffield, to…

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