University of Glasgow and IP Group

Dear Sir or Madam,

According to the University of Glasgow's website, it will sell a
12.5% stake in its spin-outs for the next 25 years. In return, the
partnership agreed by the University's Court will see IP Group make
available an initial £5 million to accelerate Glasgow University
spin-out projects towards the marketplace, with the aim of
improving the rate and success of spin-out commercialisation of its
world class research. From your website, this would appear to
equate to three spin-outs in four years. Over the past five years,
57 companies have been created at Edinburgh University, with nine
out of ten still trading.

Details on your website show that only three spin-outs have been
formed as part of the University of Glasgow's partnership with the
IP Group, which was announced in October 2006. The first two
companies from the collaboration are XanIC Limited, and Wireless
bioDevices Limited. The third is called Reactiv Labs, formed in Aug
2007.

It goes on to state that the IP Group has invested £450,000 in
ReactivLab Ltd for a 33.2% stake. How much of a share does the
University have in this company?

What is the status of the other two companies named, what is the
level of investment from IP Group, what % stake does this equate
to, and are all of these companies still trading?

However, given that Reactiv Labs was formed in Aug 2007 and there
does not appear to have been any further activity since then, is it
reasonable to assume that this partnership has been terminated due
to lack of interest/funds by the IP Group? How much have IP group
actually invested out of the initial £5m indicated in the
announcement four years ago?

Has the University agreed to similar partnerships with any other
external party? I believe that both Edinburgh and Strathclyde have
agreements with a technology and investment management company
called Braveheart (Edinburgh having a £25m fund formed in 2007 over
eight years; Strathclyde having a £12m fund formed 2007, £4.5m
committed as of 2008). Did Braveheart ever approach the University
of Glasgow?

Yours faithfully,

Mark Haller