May 8 2008
Revolymer Ltd, the Bristol University spin-out company behind a chewing gum that can be easily removed from pavements and other surfaces, has secured an investment of £10 million.
Formed as a spin-out company from Bristol University in October 2005, Revolymer is a technology company focused on the development of new polymers, used in everyday synthetic items including fabric, rubber and plastic, with enhanced physical properties manufactured from existing commodity polymers.
The company was developed by Terence Cosgrove, Professor of Physical Chemistry at the University after he set out to provide a solution to products that had a secondary detrimental effect such as chewing gum removability.
The £10 million has been raised from a syndicate of investors led by the IP Group plc, an intellectual property (IP) commercialisation company that specialises in commercialising university technology. Funds managed by Top Technology Ventures Limited, a subsidiary of IP Group plc, have invested £0.8 million in the financing. The remaining £9.2 million was raised from institutional and private investors.
Posted May 8th,2008