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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

VCT4

Oxford Technology 4 VCT raised £10.2m in 2005 and has had 2 further top up fundraisings in 2009 and 2010 raising an additional £679k. The Fund is now fully invested.

Net asset value per share was 45.9p as at 28 Feb 2018.

Dividends paid to 28 Feb 2018 total 37p per share resulting from the sale of Dexela, Meciria and Impact.


KID

The Key Information Document for OT4 VCT is available here: KID OT4.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

Castleton

Castleton

Castleton - Investment Information for OT4
Date of First Investment Oct 2005

When Impact Applications was sold to Castleton Technologies, OT4 acquired shares in Castleton as part of that deal. At time of acquisition (29 May 2015), the shares were worth £1.09m.

Castleton are industry leading suppliers of Social Housing Software and Managed Services.

Castleton Technologies Plc is listed in the FTSE AIM All-Share Index in the Technology Sector. (Code CTP)

Click here for Castleton shareprice information

Diamond Hard Surfaces

Diamond Hard Surfaces

Diamond Hard Surfaces - Investment Information for OT4
Date of First Investment Jan 2005

The purpose of the initial investment was to build an experimental furnace to develop a novel process to produce a diamond coating on a variety of substrates. The results of the initial work were very promising and the company was able to produce a variety of diamond coatings which were: 1) extremely hard (diamond is the hardest natural substance) 2) very low friction (lower than Teflon) 3) thick (up to 60 microns – most diamond coatings are much less thick) 4) applicable to a wide variety of substrates due to low deposition temperature. This combination of qualities is ideal for prolonging the service life of mechanical components which experience high levels of wear and which are also expensive to replace.

Test sample steel disks

Dynamic Extractions

Dynamic Extractions

Dynamic Extractions - Investment Information for OT4
Date of First Investment Aug 2005

The chemical reactions which produce pharmaceutical drugs typically produce mixtures of compounds, from which the desired compound must then be separated and purified. Dynamic Extractions was formed in 2001 having spun-out from Brunel University, where the patented HPCCC technology was developed. OT4 invested in Aug 2005, when DE moved to purpose built premises in Slough. DE has four sizes of HPCCC instruments, from the Mini, for doing milligram quantities in the laboratory, up to the Maxi, which is for production scale separations. One of the important advantages of HPCCC is that it scales automatically. So what works at small scale will also work at production scale. This is not true of conventional methods. HPCCC is potentially a much more efficient method of drug production and the hope is that developing this technology will keep pharma companies in the UK.

Dynamic Extractions

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.

Historic Futures

Historic Futures

Historic Futures - Investment Information for OT4
Date of First Investment Aug 2005

Historic Futures make it possible for companies to collect and manage value chain data, from primary production to finished product and to communicate good practice to their customers.

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

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.

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.

MirriAd Advertising

mirriad

MirriAd- Investment Information for OT4
Date of First Investment May 2015

MirriAd was spun out from another Oxford Technology 4 VCT investee, Imagineer Systems, in 2006. In May 2015 MirriAd's assets were purchased by Broadwall Acquisitions Ltd, subsequently renamed MirriAd Advertising Ltd. OT4 recieved shares in MirriAd Advertising as part of the acquisition. Mirriad Advertising listed on AIM in December 2017 and OT4 received shares in Mirriad Advertising Plc.

MirriAd is able to deliver Embedded Advertising into video streams, ranging from user generated content, such as on YouTube and MySpace, to studio and broadcast quality productions, such as Casino Royale or Pop Idol. This capability allows real time ‘In-Video Advertising’, where branded products for instance, Coke cans, advertising hoardings, or even cars can be placed into video streams, appearing to the viewer as if they were there on the original film set. This means, for example, television game shows could be regionalised by inserting different branded products into multiple variations of a single show for example, Pepsi into one version of Pop Idol, for broadcast in the US, and 7 Up into another, for transmission in Europe. Popular clips on YouTube could be monetised by inserting branded objects or images into the background with the particular brand automatically selected according to the demographic of the individual downloader.

Mirriad Advertising Plc is listed in the FTSE AIM All-Share Index in the Media sector. (Code MIRI)

Click here for MirriAd shareprice information

Product placement of Vans advert

Novacta

novacta

Novacta - Investment Information for OT4
Date of First Investment Apr 2005

Novacta Biosystems Ltd was founded in 2003 to discover and develop novel pharmaceuticals with a particular focus on infectious disease. OT4 first invested in Novacta in 2005 although since then the company has been restructured.  ‘Novacta’ was intially comprised of four separate companies: a parent company (Novacta Holdings Ltd), and three separate intellectual property holding companies. The Company is now consolidated into Novacta Holdings Plc and OT4 holds shares in this non UK entity.

Novacta uses proprietary microbial technologies and enzymes (biotransformation and pathway engineering) to make subtle modifications to complex drugs to optimise their properties such as selectivity, potency and toxicity.   Novacta’s lead programmes are centred around a class of small peptide molecules called lantibiotics, a drug class that until now has been underexploited due to the lack of adequate research tools.

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.

Oxis Energy

Oxis Energy

Oxis Energy - Investment Information for OT2
Date of First Investment Jan 2000
Oxis Energy - Investment Information for OT4
Date of First Investment Nov 2005

Oxis Energy is developing a rechargeable battery with the following exceptional properties:

- Extremely high specific energy density 1.5-2x existing best rechargeable battery

- Wide temperature of operation 0°C to 125°C

- Inherent safety - no control electronics

These properties represent a step change in performance versus existing rechargeable battery technologies and for some markets they will be a key enabling technology, for example, the energy weight ratio specific energy density is pivotal in electric vehicles because the weight of the battery is a significant part of the total vehicle weight.

Commercially, the company is currently focused on three key markets, down-hole oil/gas tools, electric vehicles and power tools. The oil/gas industry currently spends in excess of $100m/year in primary batteries (one time use) in downhole tools.

Oxis ability to operate in a high temperature range and its inherent tolerance to high charge/discharge are critical advantages ' and of course there is significant value because one rechargeable cell has the potential to replace up to 30 primary cells.

The Oxis Team

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.

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.

ZuvaSyntha

Zuvasyntha

ZuvaSyntha- Investment Information for OT4
Date of First Investment Feb 2012

ZuvaSyntha Ltd was formed in May 2015 following the merger of BioSyntha Technology Ltd (Welwyn Garden City, UK) and ZuvaChem LLC (Baltimore, MD, USA). ZuvaSyntha is combining advanced biotechnology with rigorous chemical engineering to produce chemicals and fuels from renewable resources, such as the low cost C1 feedstocks syngas and methanol.


Share Price Information and RNS Announcements

For information from the London Stock Exchange on the share price for OT4 and all RNS announcements, please click on the image below: