ANGLE Technology Ventures Fills Critical Gap in Early Stage Investing

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3M Acquisition of ANGLE Portfolio Company Validates Unique Company Creation


    CHARLOTTESVILLE, Va. and BOSTON, March 9 // -- 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 imaging marketplace.

    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 success."

    "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 Group

    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 about ANGLE Technology visit:

    Lisa Black

    LMB PR


    Lisa S. Smith

    ANGLE Technology U.S.

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