Woodford Investment Management has increased its holding in Imperial Innovations Group (IVO), so that it now holds 20.6 per cent of its shares worth around £11.6m. It follows a £100m share placing by the Alternative Investment Market (AIM) listed company in February. Imperial Innovations works with universities such as Imperial College London, Oxford and Cambridge to develop their scientific research from the earliest stage through to commercialisation.
Woodford Investment Management already held more than 19 per cent in the company, and it now accounts for 1.4 per cent of IC Top 100 Fund CF Woodford Equity Income (GB00BLRZQB71) and 2.4 per cent of Woodford Patient Capital Trust (WPCT), up from 1.17 and 2.26 per cent respectively at the end of April.
Mr Woodford told investors Chronicle earlier this year that he was going to use market volatility to sell out of some listed large-caps in Woodford Patient Capital Trust in favour of earlier-stage businesses.
However, Invesco Asset Management remains the largest shareholder, with 39.1 per cent of Imperial Innovations' shares. This is held in funds including IC Top 100 Fund Perpetual Income and Growth Investment Trust (PLI), and accounted for 1.1 per cent of its assets at the end of March. Imperial Innovations is also held in Invesco Perpetual High Income (GB00BJ04HQ93), according to its latest annual report and accounts for 1.5 per cent of Invesco Perpetual Income's (GB00BJ04HX60) assets.
Imperial College London and Lansdowne Developed Markets Master Fund respectively hold 17.1 and 12.7 per cent of Imperial Innovations' shares.
Imperial Innovations focuses on developing companies in therapeutics, medtech and diagnostics, engineering and materials, information and communication technology, and digital.
