University seals first roll-out sale for pounds4m

From: Western Morning News, The Plymouth (UK) | Date: July 5, 2007| Author: | Copyright information

The University of Exeter is celebrating the first commercial sale of a spin-out company for pounds4 million. EvanesCo, which was established just five years ago by Dr Andrew Shaw, has been bought by American company Trireme Systems in a move that will inject up to pounds2 million to commercialise its first products internationally with support from Trireme's network of agents.

The university will continue to be a shareholder in EvanesCo through a stake in its new parent company, enabling it to reap further financial reward from the venture in the future.

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