Anna Brown

Frontier IP, an AIM-listed specialist in spinning out and commercialising intellectual property, has raised approximately £2.33m by way of a placing, carried out by its broker N+1 Singer, and an offer for subscription carried out by PrimaryBid, on behalf of the company.

The funds are being raised to increase the company’s ability to support its commercialisation and development services and to allow it to flex its business model to enable it to provide bridging finance and directly participate in fundraisings by its portfolio companies.

Anna Brown, Glasgow-based partner at Addleshaw Goddard who led the team acting for Frontier IP, said: “Providing strong leadership and advice alongside having the ability to adapt and react quickly is one of Frontier IP’s strengths, and this fundraise means it has greater flexibility to support its portfolio companies.

“The portfolio is heavily weighted towards healthcare and infrastructure, so whether in the fight against COVID-19, or the increased focus on health and the environment, Frontier can help them face the current challenges and capitalise on the opportunities. Involving retail shareholders in the fundraising was very important and the inclusion of the PrimaryBid Offer as part of the fundraising provided a straightforward and very effective way of allowing them to participate.

“We were delighted to be part of the team to provide key resource and advice at these challenging times to support Frontier IP in a successful fundraising.”

Jackie McKay, chief operating officer of Frontier IP Group plc, said: “Addleshaw Goddard’s team in Scotland has a depth of experience and knowledge in raising funds on AIM and the public markets. The key for us is their understanding of our business.

“They think ahead of what we need. Their pro-active support, ability to focus on what is key and clear communication of difficult legal issues – as well as meeting our challenging timescales – was crucial.”