Frontier IP extends academic reach into Portugal

The AIM-traded company specialising in the commercialisation of intellectual property said the agreement was the first to be established by the group with a university outside of the UK.

Frontier said it would work with Évora to maximise the commercial value of intellectual property developed within, or owned by, the university.

It would receive a share of the equity in each spin-off company created by the university, as well as a share of the licensing revenue it receives.

"This agreement with Évora is an exciting step for Frontier IP, and is in line with our strategy of developing our relationships internationally, adding to the strong relationships we already have with industrial partners in the region", said Frontier IP chief executive Neil Crabb.

Universidade de Évora rector, Dr Ana Costa Freitas, said the university recognised a need to commercialise and make the most of the knowledge discovered and developed within it.

"Given our lack of experience in this area, we are excited to progress our knowledge and ideas with the Frontier IP team", Dr Freitas said.

At 1440 GMT, shares in Frontier IP Group were trading at 19p.