AMP Amphion Innovations Plc

 

TIDMAMP 
 
RNS Number : 8256L 
Amphion Innovations PLC 
19 January 2009 
 
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Amphion Innovations plc 
Full Year Trading Update 
 
 
  *  NAV per Share expected to be GBP0.30 (2007: GBP0.22) 
  *  DataTern provides new revenue streams of over $5 million 
  *  New Product launches from Partner Companies; Kromek, Myconostica, and 
  PrivateMarkets 
  *  $13 million successfully raised for Partner Companies 
 
 
 
19 January 2009- Amphion Innovations plc (LSE: AMP) ("Amphion" or the 
"Company"), is pleased to announce that results for the 12 month period to 31 
December 2008 are expected to show an increase in Net Asset Value per Share 
('NAV') in sterling to GBP0.30 being $0.44 (GBP0.22 and $0.44 as at 31 December 
2007), broadly in line with market expectations. While 2008 was a challenging 
period for all businesses, Amphion continued to meet its commercial objectives. 
The anticipated increase in NAV per Share stems from a combination of good 
progress made by the Partner Companies together with exchange rate movements in 
the second half improving NAV per Share in sterling terms as the majority of the 
Partner Companies are valued in dollars. The Company has also benefited from new 
licensing revenues from DataTern which is moving the business closer to becoming 
self funded. However, while the underlying trading has been positive, the 
Company expects to report significantly lower profit before tax compared to the 
prior year due primarily to a reduction in the fair value gains on investments. 
 
 
Amphion builds shareholder value in high growth companies in the medical and 
technology sectors by using a focused, hands-on company building approach, based 
on decades of experience in both the US and UK. Currently there are 8 Partner 
Companies developing proven technologies targeting substantial commercial 
marketplaces in excess of $1 billion. Each Partner Company aims to achieve a 
target exit value in excess of $100 million supported by Amphion's management 
team's strong track record of delivering liquidity events. 
 
 
Amphion is also developing DataTern, a wholly owned subsidiary, which was 
established in order to commercialise selected intellectual property 
opportunities in partnership with Amphion's Partner Companies.In October and 
November 2008, Amphion announced that DataTern had completed two additional 
licensing deals for its key ORM patents, bringing the total for the year to 
three, generating gross revenue of over $5 million during the year. In 2009, 
Amphion expects to continue to build DataTern.  We believe that there are many 
additional potential licensees and expect to be able to generate a significant 
amount of revenue in 2009 and beyond. 
 
 
During 2008, Amphion successfully helped its Partner Companies raise over 
$13 million. 
 
 
The majority of this fundraising took place in the first half of the year 
although Kromek was successfully able to complete outside financing in the 
second half.  Amphion's Partner Companies continue to make progress and several 
important milestones were reached.  In September 2008, Myconostica formally 
launched its first product, FXG(TM): RESP (Asp +), its new test to assist 
medical and scientific professionals to identify the most common causes of 
fungal pneumonia.  In November 2008, Kromek launched its first major product for 
the security market, the Kromek Bottle Scanner, an automated detection system 
which allows rapid analysis of the materials inside an unopened bottle.  In 
December 2008, PrivateMarkets reached an important milestone with the first live 
trading taking place on its platform, the first bilateral electronic structured 
transaction service designed to satisfy the unique needs of buyers and sellers 
of energy commodities.Also during 2008, Motif BioSciences, began analysing the 
phenotypic and genotypic data from the genetic samples and clinical data 
collected by Professor Froguel of Imperial College and his colleagues in 
Morocco. 
 
 
Amphion announced in December the successful raising of $2.78 million of 
Convertible Loan and closed an additional $500,000 in 2008 after that 
announcement.  We believe that the resources provided by this financing, coupled 
with DataTern's expected licensing revenues, should allow Amphion to continue to 
support our Partner Companies and help them make progress in 2009. 
 
 
Amphion expects to announce its preliminary results for the 12 months to 31 
December 2008, on 16 March 2009. 
 
 
Richard Morgan, Amphion's Chief Executive Officer, said, "2008 was a difficult 
year in the economic and financial environments, but Amphion managed to make 
very good progress, particularly in the first half of the year. We have 
confidence in the strength of our business model and we believe we have 8 
exciting Partner Companies, each of which has considerable potential.  2009 will 
be a challenging year but we expect to be able to deliver further growth and 
value for our shareholders." 
 
 
For further information please contact 
Amphion Innovations plc 
Charlie Morgan, Director of Communications 
 
       +1 (212) 210-6224 
Cardew Group 
 Tim Robertson / Jamie Milton / Matthew Law 
 
+44 020 7930 0777 
Charles Stanley Securities, Nominated Advisor 
 Mark Taylor / Freddy 
Crossley: 
 

              +44 020 7149 6000 

 
 
About Amphion Innovations plc 
 
Amphion (LSE: AMP) builds shareholder value in high growth companies in the 
medical and technology sectors, by using a focused, hands-on company building 
approach, based on decades of experience in both the US and UK. Amphion has 
significant shareholding in 8 Partner Companies, developing proven technologies 
targeting substantial commercial marketplaces, each in excess of $1 billion. 
Each Partner Company is chosen with the goal of achieving an exit valuation in 
excess of $100 million. 
 
 
On the web: www.amphionplc.com 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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