Spin out company valuations

Paul Philips made this Freedom of Information request to University of Glasgow

University of Glasgow did not have the information requested.

From: Paul Philips

23 September 2009

Dear Sir or Madam,

For the list of companies below, identified by the University of
Glasgow as its spin out companies formed in the past five years,
can you please provide the following information for each one:

(a) valuation of company on incorporation;
(b) value of any equity held by the University of Glasgow in each
company;
(c) names of all other shareholders;
(d) current valuation of each company; and
(e) how many of these companies have an operational base in
Scotland.

If the answer to (e) is that one or more of these companies is
based outside Scotland, can you explain why the public purse is
being used to create companies that do not create jobs in Scotland
and do not contribute to the Scottish economy or to the tax revenue
collected by HMRC.

Is this a deliberate attempt by the University of Glasgow to avoid
paying tax on its investments?

Grannus Biosciences Ltd
MD Biosciences Inflammation Discovery Services Ltd
Crucial Genetics Ltd
Mode Diagnostics Ltd
Xanic Ltd
Reactivlab Ltd
TMRI Ltd
Senectus Therapeutics Ltd
Pathfinder LLC
Cara Therapeutics Inc

Yours faithfully,

Paul Philips

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From: FOI Office
University of Glasgow

24 September 2009

Attachment ACKNOWLEDGEMENT F0072089.pdf
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Dear Mr Philips,

Further to your Freedom of Information request dated 23 September 2009
timed 21:32 hours. Please find letter of acknowledgement attached.

You will find that the University's acknowledgement of your information
request is in PDF (Portable Document Format) file(s) attached to this
email.

The PDF file format is used for electronic distribution because it
preserves the look and feel of the original document complete with
fonts, colours, images, and layout. To open a PDF file you can download
a free program called Acrobat Reader and install it onto your computer
by clicking on to the following URL:

http://www.adobe.co.uk/products/acrobat/...

Yours sincerely,

Data Protection and Freedom of Information Office

Direct Line: +44 (0)141 330 2523
Fax: 0141 330 4920

Gilbert Scott Building
University of Glasgow
University Avenue
Glasgow G12 8QQ
G12 8QQ

The University of Glasgow, charity number SC004401

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From: FOI Office
University of Glasgow

22 October 2009

Attachment RESPONSE F0072089.pdf
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Attachment Appendix A v.1.0.pdf
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Dear Mr Philips,

Please find attached the University's response to your Freedom of
Information (Scotland) Act 2002 request dated 23 September 2009 timed
21:32 hours. We apologise for the delay of one day in the University's
response which was due to consultation with the spin out companies.

You will find that the University's response to your information request
is in PDF (Portable Document Format) file(s) attached to this email.

The PDF file format is used for electronic distribution because it
preserves the look and feel of the original document complete with
fonts, colours, images, and layout. To open a PDF file you can download
a free program called Acrobat Reader and install it onto your computer
by clicking on to the following URL:

http://www.adobe.co.uk/products/acrobat/...

Yours sincerely,

Data Protection and Freedom of Information Office

Direct Line: +44 (0)141 330 2523
Fax: 0141 330 4920

Gilbert Scott Building
University of Glasgow
University Avenue
Glasgow G12 8QQ
G12 8QQ

The University of Glasgow, charity number SC004401

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David Pearson left an annotation (26 October 2009)

Who on earth are they doing business with that to disclose their identity would cause them substantial prejudice? Is the government happy that public money is being used to fund operations with secret partners?

"The University of Glasgow, after consultation with the company, considers that
disclosure of the names of all other shareholders in Cara Therapeutics Inc would be
likely to prejudice substantially the commercial interests of both the University and the
spin out company."

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Things to do with this request

Anyone:
University of Glasgow only: