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3M Acquisition of ANGLE Portfolio Company Validates Unique Company Creation Model
ANGLE Technology Ventures Fills Critical Gap in Early Stage Investing
CHARLOTTESVILLE, VA | Posted on March 9th, 2007
ANGLE Technology Ventures LLC, the U.S. technology commercialization arm of ANGLE
plc (LSE: AGL) an international ventures management and consulting company
listed on the AIM Market of the London Stock Exchange, today announced
plans to expand ANGLE's business in the U.S. through the development of new
ventures using ANGLE's Progeny(R) process.
ANGLE's approach to value creation is a unique differentiator in the
technology transfer arena because it provides not only capital, but also a
managed process that includes building the senior management team,
conducting market research, developing the business plan, and overseeing
product development, as well as market entry strategies. 3M's recent
acquisition of Acolyte Biomedica, one of ANGLE's UK portfolio companies,
validates ANGLE's unique company formation model.
Jothy Rosenberg, Ph.D. was recently appointed as ANGLE's Director of
U.S. IT Ventures to drive the company's U.S. expansion and to provide a
strong focus on the New England high tech marketplace. Rosenberg recently
partnered with New York University's Media Research Lab to commercialize
its Kaleidoscope technology. He combined it with the University of Southern
California's Light Stage technology for 3D image capture, to form Kaloptics
as a new ANGLE Progeny(R) company that will revolutionize the digital
ANGLE's strong life sciences market focus, is led by David Counts,
Ph.D., ANGLE's Director of U.S. Life Sciences Ventures, who is based in
Philadelphia, PA. ANGLE recently formed Parsortix, a company developing
technology to enable a new non-invasive method for the collection of fetal
cells for chromosomal abnormality testing. Counts commented, "In life
sciences, we are looking for technologies that will provide greater safety
and improved health care delivery to patients while providing the
cornerstones to build strong sustainable companies. We believe that
Parsortix will become such a company."
The 3M transaction represents a significant exit in the UK Intellectual
Property commercialization sector. ANGLE founded Acolyte Biomedica in 2000
in conjunction with the Defence Science and Technology Laboratories (Dtsl),
an agency of the UK Ministry of Defence at Porton Down, Wiltshire, and
remained actively involved in the management of the company through three
venture rounds and the subsequent sale to 3M, a global technology company.
"There is a demonstrated need in the market for universities and R&D
organizations to commercialize their inventions, but the path to building
successful startup companies is not easy," said Rosenberg. "Our proven
approach, as evidenced by the recent Acolyte exit, not only mines leading
edge technologies from a prestigious R&D organization, but will guide the
process and apply critical resources and expertise to assure commercial
"We are extremely pleased with the sale of Acolyte to 3M, and plan to
continue to grow our ventures business in the U.S.," said Gary Evans,
Ph.D., CEO of ANGLE's U.S. Operations. "The U.S. ventures team is ideally
placed to continue our expansion and to bring more new technologies to
market in the form of new high-growth companies. Our unique approach and
international base provides great depth across multiple technologies and
markets, including not only IT and life sciences, but also emerging areas
such as nanotechnology and alternative energy."
About ANGLE Technology Ventures
Founded in 1994, ANGLE is an international venture management and
consulting company. ANGLE focuses on the commercialization of technology
and the development of technology-based industry, from creating new
companies to the planning, managing and marketing of research parks,
incubators, and other initiatives. ANGLE operates in the United States,
Europe and the Middle East. ANGLE has U.S. offices in Charlottesville, VA,
Boston, MA, Philadelphia, PA, and Pittsburgh, PA.
For more information, please click here
Lisa S. Smith
ANGLE Technology U.S.
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