2007 Imprimatur Capital Limited 1 Private & Confidential “Investing in Knowledge” October 2007

2007 Imprimatur Capital Limitedwww.impcap.com 1

Private & Confidential

“Investing in Knowledge”

October 2007

Private & Confidential 2007 Imprimatur Capital Limited

www.impcap.com 2

Imprimatur Capital – Who We Are

Imprimatur is an international, operational, principal investment business focussing on the emerging asset class of IP Equity and founded on long-term relationships with key universities

and research institutes worldwide.


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The Business Model

• Long-term partnerships with top universities and research institutes;

• Disciplined market driven technology focus;

• International perspective and resources;

• A recognition that capital, in and of itself, is not a determinant of success;

• Strong operational team and Industry / Scientific Advisory Group who work closely with our partners and portfolio companies;

• Targeting a broad range of key technologies;

• A dynamic network used to identify technology and market gaps;

• Working with key regional and national stakeholders for mutual benefit.


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Imprimatur’s Position in the Commercialisation Cycle

3 mos 6 mos 9 mos 1 yr

IP/Prototype?

Applications vs. Markets

No: Customers Revenues

Management Plans

“IC First Look Option Period”

University TTO Process:

IP Protection; Consider Applications; Opportunity Summary; Obtain Academic Buy-In; Complete

Internal Admin; Prepare Outline Plan for Investors.

TTO Ready to Involve External Partners

Imprimatur Capital Angel/Seed Investors Series “A” VC

Lead/Co-Investor Still Required

Finished Products

Identified Markets

Customers

Growing Revenues

Management Team


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Investment Process

PipelineTechnical Analysis

Transaction Management

Portfolio Management

Revenue Recognition

External Advisors

Investment Committee

Capital Markets

Transaction Management

Human Capital

In-House Team

Tech Transfer


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International Network

- partnerships in development

- existing partnerships

- office locations

- proposed office locations







- office locations








- office locations





International NetworkRussian Team

Technical & Market Assessment Experts

Ben Ferrari –Managing Director

Steve Hughes – Associate Director Technology Transfer

Juan Matthews - Associate Director Technology Transfer

Tanya Mackenzie - Associate

Toby Moore –Director Baltic Seas

Janis Janevics – Associate Director

Gala Shaposhnikova – Consultant Tomsk

Alex Kvashnin – Consultant Novosibirsk


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Focus on High Growth Technology Sectors

• Information and Communication Technology;

• Nanotechnology/MEMs;

• New Energy;

• Materials Science;

• Optics and Photonics;

• Security and Defence;

• Biosciences.


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The “House” Views

• Imprimatur researches investment themes within target sectors to identify technology gaps;

• Input from Imprimatur’s prestigious Industry and Scientific Advisory Groups;

• Proprietary “House View” on each sector;

• Imprimatur targets IP from across its university network;

• Creating valuable solutions, fulfilling real commercial needs.


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Assessment Outcome

Innovation

Proof of concept

Licensing

Start-up

Not for us

Assessment

Proof of concept: Imprimatur funds proof of concepts when we believe thereis potential but there are one or more technical milestones to be achieved

Licensing: Imprimatur has created specialized IP licensing vehicles in areas such as Security (OrbisIP) and Communications Technologies (ICIPR).


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Broad criteria considered for a start-up

• Inventor(s) enthusiastic about commercialization• Degree of novelty • Protectable intellectual property• Technical feasibility • Visible route-to-market • Growth potential• Size of the potential market • Potential for attracting follow-on investors• Imprimatur’s ability to add value beyond “just money”


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Current Portfolio

INFORMATION AND COMMUNICATION

TECHNOLOGY

• Superstructure (unstructured data mining tool)

• Mobile Acuity (mobile image recognition tech)

• Layered Sound (sound tech)

• ICIPR (communications)

• Fubat (mobile gaming)

• Clusterpoint (mobile search tech)

• Leximancer (unstructured data analysis)

• Manbujia (wireless infrastructure and services)

NANOTECHNOLOGY /MEMs

• Quantum Precision (nano-measurement devices)

NEW ENERGY

• SAFC (solid oxide fuel cell)

• Quicksilver (biodiesel production tech)

BIOSCIENCES

• Vittamed (non-invasive medical devices)

• Colisa (cuffless blood pressure monitor)

• BigDNA (phage vaccine platform)

SECURITY AND DEFENCE

• InfoGov (compliance, information security)

• OrbisIP (security)

The companies in our Current Portfolio are actively supported by the BDMs, Regional

Managers and by our Scientific and Industry Advisors


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Current Activity – Pipeline

Strong pipeline across all territories and sectors including:• Functional foods – anti-obesity (UK & Spain)

• Biodiesel production (Ukraine)

• Point of care diagnostics (Hong Kong)

• Blood glucose measurement (UK)

• Quantum cryptography (Australia)

• Third generation solar power (Sweden)

• Wireless security (Russia)

• Nano-technology (Singapore & Ukraine)

• Mobile Gaming (UK)


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Case Study 1

2003 2004 2005 2006 2007

POC development

BusinessPlan

Completed

Mobile Acuity

Engagement of VC community

Competingoffers frominvestors

Imprimaturinvestmentcompleted

Due Diligence andsupport with

business plan development

First significant

sale

FirstProduct

ready

Foundersdevelopconcept


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First application is in mobile marketing

MOBILEVISUAL RECOGNITION

TECHNOLOGY AND PLATFORM


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Why did we invest in Mobile Acuity?• Inventor(s) enthusiastic about commercialization

• Current managing director was the inventor• Degree of novelty

• High in the application domain and overall vision• Protectable intellectual property

• A patent licensed from the university• Technical feasibility

• A demo was available at the time of investment• Route-to-market feasibility

• A ideal application in the mobile market was identified and pursued successfully

• Growth potential• Huge, as it is starting from zero

• Size of the potential market • Every mobile phone use is a potential customer

• Potential for attracting follow-on investors• The mobile platform and application space is very hot


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Russian Investment

• Early stage start-up working in the area of mobile/compact power generation systems based on novel ferroelectric materials.

• Based in Novosibirsk – strong reputation of team and supporting institutes.

• Imprimatur providing ‘matched’ investment with FASIE funding.

• Patents in place PCT – scope for further IP.


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Conclusion

• Growing international momentum in commercialization of University IP

• Imprimatur leading the development in this field • Imprimatur’s core model based around:

– Working with key Stakeholders– Alignment of interests with institutes and academic

founders – Extensive scientific, geographic and commercial

network – Provision of essential support services as well as cash

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Private & Confidential

“Investing in Knowledge”

Documents

2007 Imprimatur Capital Limited 1 Private & Confidential “Investing in Knowledge” October 2007