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Oxford Technology is the specialist
in the start-up and early stage technology sector
Tax Shelter Report, Allenbridge
Oxford Technology is the specialist
in the start-up and early stage technology sector
Tax Shelter Report, Allenbridge
Oxford Technology is the specialist
in the start-up and early stage technology sector
Tax Shelter Report, Allenbridge

VCT3

Oxford Technology 3 VCT raised £5.4m in 2002-03 with further top up fundraising of £995k in 2007-10 and is now fully invested.

Net asset value per share was 86.2p at at 28 Feb 2018.

Dividends paid to 28 Feb 2018 total 36p per share, mainly resulting from the sale of Telegesis, Allinea, Commerce Decisions, BioAnaLab and MET.


KID

The Key Information Document for OT3 VCT is available here: KID OT3.pdf


Portfolio

Abzena

Abzena

Abzena - Investment Information for OT3
Date of First Investment Nov 2002
Abzena - Investment Information for OT4
Date of First Investment Nov 2002

OT3 and OT4 were originally investors in Warwick Effect Polymers (First invested in Nov 2002) which was acquired by Abzena and which is now a quoted company on the AIM market.


Biopharmaceuticals are an increasingly important class of medicines with over 400 products estimated to be in clinical development and the market expected to increase from US$199.7 billion in 2013 to US$497.9 billion by 2020. Antibody-based products and therapeutic proteins are the two largest and fastest growing segments of this market.


Abzena provides a suite of complementary services and technologies to R&D organisations to improve the chances of successful development of therapeutic proteins and antibodies, and it is therefore poised to capitalise on the growth of the biopharmaceutical market. The Group has significant know-how, supported by a broad patent estate, to enable it to create better biopharmaceuticals for its customers.


Abzena operates a balanced business model with growing revenues from its service business and the potential for significant future growth through royalty bearing licences for the application of its technologies to biopharmaceutical products. The Group’s technologies and services are provided through its wholly-owned subsidiaries, PolyTherics and Antitope.


PolyTherics and Antitope have been developing and offering their technologies and services for over 10 years and their scientists have provided expertise to a wide range of companies, including most of the top 20 biopharmaceutical companies, many large and small public and private biotech, and academic groups, across the world.


The 5 main areas the company works in are:

Immunogenicity assessment

Antibody drug conjugates

Antibody | protein engineering

Optimisation of pharmacokinetics

Cell line development

Abzena is listed in the FTSE AIM All-Share Index in the Pharmaceuticals & Biotechnology sector. (Code ABZA)


Arecor

Arecor

Arecor- Investment Information for OT2
Date of First Investment Jul 2007
Arecor - Investment Information for OT3
Date of First Investment Jul 2007
Arecor - Investment Information for OT4
Date of First Investment Jul 2007

In July 2007, Arecor was spun-out as a separate company with all existing shareholders in Insense owning their pro-rata shares in Arecor. Arecor then raised additional capital (OT4 was able to subscribe but OT2 and OT3 did not have the capital with which to do this at the time).

As proteins increasingly dominate the drug development pipelines of major pharmaceutical companies, many are seeking assistance in developing stable formulations. The company has paid feasibility studies with ten of the top twenty pharmaceutical companies to new stable formulations of specific therapeutic proteins and vaccines.

In the spring of 2010, Arecor signed a broad agreement with Genzyme, Inc. under which Arecor will develop stable formulations of Genzyme’s proprietary proteins and license the Arecor technology for an ongoing pipeline of products. In April 2011 Arecor signed license agreements covering two vaccines with GSK Bio.  In December 2011, Arecor reached agreement with the American company Eli Lilly which provides for licenses on formulations of new and existing products.  Currently, Arecor is working on three products under this agreement with the first expected to go to license in the coming year.  A second agreement was signed with Lilly in May 2012 providing for a license on a specific undisclosed marketed molecule.  If the development is successful these agreements can generate very substantial milestone income on each molecule plus ongoing royalties to Arecor.

Arecor has expanded the initial patent portfolio to fifteen patent families covering all the major pathways of protein degradation and improved formulations for specific products.  The Company has recently received official notification of its first patent going to grant.  

Arecor

Glide Pharma

Glide Pharma

Glide Pharma - Investment Information for OT3
Date of First Investment Nov 2003
Glide Pharma - Investment Information for OT4
Date of First Investment Feb 2005

Glide Technologies is a clinical stage technology development company. Glide has developed a novel device and drug delivery technology for the self-administration of injectable therapeutics and the delivery of vaccines in a solid dosage form.

ImmunoBiology

Immuno Biology

ImmunoBiology- Investment Information for OT2
Date of First Investment Dec 2000
ImmunoBiology- Investment Information for OT3
Date of First Investment May 2003
ImmunoBiology- Investment Information for OT4
Date of First Investment Oct 2005

ImmunoBiology is developing novel vaccines using a proprietary heat shock protein-complex (HspC) approach. Hsps are an important family of protective proteins that are produced by cells under stress - they were originally observed in cells that had been subjected to a sudden temperature increase, hence the name heat shock protein.

The HspC technology allows the production of vaccines incorporating a range of different antigens from a single pathogen bound to a carrier protein the heat shock protein. ImmBio’s research shows that HspC vaccines are more powerful, longer lasting and potentially provide broader protection against multiple strains of a particular pathogen than existing vaccines.

The influenza virus

Inaplex

Inaplex

Inaplex- Investment Information for OT2
Date of First Investment Sept 2001
Inaplex- Investment Information for OT3
Date of First Investment Mar 2003

InaPlex is a specialist in CRM integration. Customer Relationship Management systems are used by organisations to manage and foster their relationships with customers. Over the last 10 years, they have grown in importance and sophistication; they are now a major line of business application for many organisations. Merging CRM systems when organisations merge is far from trivial. Inaplex is now based in California.

Insense

Insense

Insense - Investment Information for OT2
Date of First Investment Jun 2001
Insense - Investment Information for OT3
Date of First Investment May 2003
Insense - Investment Information for OT4
Date of First Investment April 2005

Insense Ltd is a spin-out from Unilever an developed a range of active dressings, which can be applied to the skin to treat a variety of conditions.

In order to sterilise the Insense dressings after manufacture, Professor Davis had to develop a method of stabilising the proteins so that they would withstand ionising radiation. Having done this, it transpired that many pharma companies were interested in using this technology for their own protein-based products. This led to the spin-out of Arecor. All the shareholders in Insense received the same % of shares in Arecor which then raised capital to fund its own expansion. Arecor is making excellent progress.

Insense is now developing a potential treatment for fungal nail and through Microarray it is developing a technology to diagnose the state of a wound, in order to apply the most suitable dressing.

Invro

Invro

Invro - Investment Information for OT3
Date of First Investment Apr 2004

Invro was founded by Dr Grant, who was a reader in Industrial Electronics at Bristol University, has had a long-term interest in creating electronics that minimise power consumption. OT3VCT originally invested in 2004 to support a SMART award, whose purpose was to build a demonstrator of a very low power radio; the target being to reduce power consumption by 90%. This objective was met, and a prototype made. It was hoped that this technology would be licensed to manufacturer of radios. It was (and is) believed that such a radio, which would run on a small battery for many months would be particularly useful in the less developed world, where a radio is often the main source of news and information and where the cost of a battery is a major factor. But Invro was not able to find a manufacturer. Dr Grant retired from the University in 2010 and has since been able to devote more time to Invro, with the emphasis now on the wider opportunities which advancing power electronics technology presents. Invro continues to play its part in the UltraWire consortium which seeks to produce ultra-conductive wire based on a mixture of copper and carbon nanotubes. The company continues to explore opportunities for expanding the use of power electronics in a variety of fields, particularly the mining and metal processing industries. The company exists but has no sales.

Invro

Ixaris

Ixaris

Ixaris- Investment Information for OT3
Date of First Investment Aug 2002

OT3 first invested £110,000 in Ixaris Systems Ltd in 2002 when the company consisted of just three founders with an idea for a transaction-based financial solution that would give anyone the ability to pay online. Today, Ixaris specialises in developing innovative global payment applications based on open-loop prepaid card schemes that offer both consumers and businesses convenient access to real-time payments. The company has made good progress and sales are growing rapidly.

Metal Nanopowders

Metal Nanopowders

Metal Nanopowders- Investment Information for OT3
Date of First Investment Nov 2002
Metal Nanopowders- Investment Information for OT4
Date of First Investment Aug 2006

Metal Nanopowders is a spin-out from Birmingham University, and was established to commercialise a process invented by Dr Isaac Chang for making very fine metal powders with diameters less than 100 nanometers. The purpose of the investment was to build a machine which is capable  of producing kilogram quantities of these powders.

The company achieved its technical objectives and is able to produce Metal Nanopowders. However, so far, there have been almost no sales and the company is dormant.

Microarray

microarray-logo

Microarray- Investment Information for OT3
Date of First Investment Dec 2013

Microarray is a spin-out from Insense founded in 2000, and is a specialist wound healing company.

The Company has wide ranging expertise in the fields of wound dressing product development, marketing and sales; electrochemistry and diagnostic sensor technologies. Current research and development activites are concentrated on innovative, electrochemically-active wound dressings for the treatment of chronic wounds and on wound care diagnostics.

Orthogem

Orthogem

 Orthogem - Investment Information for OT2
Date of First Investment Dec 2000
Orthogem - Investment Information for OT3
Date of First Investment Dec 2004
Orthogem - Investment Information for OT4
Date of First Investment May 2007

Orthogem has developed a method for producing a biocompatible, artificial bone graft called TriPore to replace the use of autograft - the patients own bone, allograft - cadaver bone, or xenograft animal bone.

Over the last decade, great efforts have been extended to producing human bone substitutes and with recent horror stories about bones being surreptitiously removed from bodies in morgues and sold into the medical device market, the search for an artificial replacement becomes more urgent.

TriPore blocks and TriPore granules were CE marked in 2006, and approval by the United States FDA was received in 2007.

Plasma Antennas

Plasma Antennas

Plasma Antennas - Investment Information for OT2
Date of First Investment Nov 2001
Plasma Antennas - Investment Information for OT3
Date of First Investment Sep 2004
Plasma Antennas - Investment Information for OT4
Date of First Investment Mar 2005

Plasma Antennas has developed a range of next-generation smart selectable multi-beam antenna technologies for small cell backhaul, broadband wireless access, mesh network and other communications and sensing applications. Based on a set of patented beamforming technologies, these high-performance electronically-steerable antennas are extremely lightweight and compact.

Scancell Ltd

www.scancell.co.uk

Scancell- Investment Information for OT1
Date of First Investment Aug 1999
Scancell- Investment Information for OT3
Date of First Investment Dec 2003
Scancell- Investment Information for OT2
Date of First Investment April 2018

Scancell is an AIM listed biotechnology company in which Oxford Technology VCT was one of the original investors in 1999 when Professor Lindy Durrant, Scancell’s founder was based in a university lab in Nottingham.

Scancell is developing novel immunotherapies for cancer based on two platform technologies, known as ImmunoBody and Moditope. Scancell’s first ImmunoBody, SCIB1 is being developed for the treatment of melanoma and is in Phase II clinical trials. In theory, these Scancell technologies could be used to treat many common forms of cancer, including breast and prostate. Data from the trials to date is encouraging and demonstrate that SCIB1, when used as monotherapy, has a marked effect on tumour load, produces a melanoma-specific immune response and highly encouraging survival trend without serious side effects.

Scancell has also identified and patented a series of modified epitopes that stimulate the production of killer CD4+ T cells that destroy tumours without toxicity. The Directors believe that the Moditope® platform could play a major role in the development of safe and effective cancer immunotherapies in the future.

Scancell Holdings is listed in the FTSE AIM All-Share Index in the Pharmaceuticals & Biotechnology sector. (Code SCLP)

Click here for Scancell shareprice information

Select Technology Ltd

www.selectec.co.uk

Select Technology- Investment Information for OT1
Date of First Investment Sep 1999
Select Technology- Investment Information for OT2
Date of First Investment Nov 2001
Select Technology- Investment Information for OT3
Date of First Investment Nov 2004
Select Technology- Investment Information for OT4
Date of First Investment Aug 2006

Select Technology specialises in software for photocopiers (now known as MFDs – Multi-function devices – since they scan, fax, email and do other other tasks in addition to photocopying). There are two strands to the business: (1) writing software which sits at the heart of MFDs and which greatly improve the user experience, enabling users to access all software programs to which they are entitled with a single sign on, and giving these programs the same ‘look and feel’, and (2) software distribution: Select is the European master-distributor for PaperCut, a world-leading print-management software product.

As with computers in the 1980s, MFD hardware has become a commodity product with little to choose between the offerings of most companies. Increasingly, what makes customers choose one make in preference to another is the quality and ease of use of the many software programs which run on them. Most MFDs will be on networks, so that, for example, a user may scan a document in London and print it out in New York and Tokyo. The accounting software will need to determine how the cost of this is allocated. Different users will have different usage rights to the software. The MFDs will need to identify users and some will use cards, other PIN numbers, and other biometric scans. Getting everything to work together, and giving everyone a good user experience is non-trivial, which is why there is a need for Select, which has specialised in this area for many years. It has taken a long time, but Select’s financial performance is now improving and sales are increasing.

Payment system at Cardiff University

Superhard Materials

Superhard Materials- Investment Information for OT3
Date of First Investment Feb 2012
Superhard Materials- Investment Information for OT4
Date of First Investment Feb 2012

In early 2012, Lucian Falticeanu, who was employed by Metal Nanopowders discovered a method of treating certain powders to produce a material which is super hard. (Hardness > 45 Gpa – believed to be harder than anything except diamond itself). The powder may be pressed into a shape which is then sintered at very high temperature to produce the end product. This may be electrically machined and also polished if necessary. It is believed that this may have several applications. A new company, Superhard Materials Ltd has been established in which Lucian has a 40% shareholding, to take this forward. The rights to this material, now called Superduride, have been licensed to Precision Ceramics Ltd in Birmingham. Lucian has also joined Precision Ceramics as Technical Director. Precision Ceramics will pay all the costs of manufacture and marketing of Superduride, and Superhard Materials will receive a share of the gross margin on sales.


Share Price Information and RNS Announcements

For information from the London Stock Exchange on the share price for OT3 and all RNS announcements, please click on the image below: