At the annual Insider North East Dealmakers Awards held on the 8th September 2016, IBEX was recognised in an award given to IP Group for the JEREMIE-funded Deal of the Decade.
Insider’s Philip Cunliffe presented the award saying, “Our second special award is for the JEREMIE-funded Deal of the Decade. The JEREMIE funds have been a hugely important source of funding for SMEs in the North East and we wanted to recognise this by rewarding one particular deal but in doing so we salute the exceptional efforts of North East Finance and all the region’s fund managers.”
IP Group managed the £1.9m investment provided by the Finance for Business North East Technology Fund in 2014. It has enabled IBEX to drive development and commercialisation of its innovative MAP (Multi-absorption Plate) detector technology.
IBEX has been able to rapidly develop the technology from an idea on paper into a fully engineered solution in a relatively short space of time.
The technology and the highly-skilled team that IBEX has built are clear indicators that the money is being used effectively and is building value in the company. First sales into the Security and Food Inspection markets are expected within the next 12 months along with securing development agreements in the medical sector.
About the North East Dealmakers Awards 2016
The best deals of the last decade have been celebrated at a special tenth anniversary North East Dealmakers Awards 2016. The dinner, which also celebrated the achievements of the dealmaking community, gathered more than 300 of the region's top professionals at the Marriott Gosforth Park Hotel. Compère for the evening was Mark Durden-Smith, while Insider's Philip Cunliffe praised the "skill and fortitude" of all those assembled.
About IP Group
IP Group was set up with a mission to evolve great ideas, mainly from our partner universities, into world-changing businesses. We achieve this by systematically helping to create, build and support outstanding intellectual property-based companies.
About IBEX Innovations Limited
IBEX Innovations Limited (IBEX) is a venture capital backed technology business focused on the commercialisation of patented X-ray detector technology for medical and industrial imaging markets. The IBEX technology, which retrofits to existing X-ray detectors, recovers spectral information normally lost in digital X-ray imaging to classify materials in the sample and deliver improved detection of defects and impurities. IBEX is developing applications for its technology in multiple industrial markets including food inspection and NDT, and for medical radiography where the technology is expected to generate improved diagnostic images at reduced patient dose.
For further information on IBEX, please visit www.ibexinnovations.co.uk
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