NeuDrive Limited Acquires FlexOS IP Portfolio from CPI Innovation Services Limited

NeuDrive Limited has completed the acquisition of a portfolio of organic semiconducting material patents and the FlexOS trademark from CPI Innovation Services (CPIIS), the commercial arm of the Centre for Process Innovation (CPI).
 
In a series of related transactions NeuDrive has also negotiated patent and know how licences relating to organic thin-film transistor technology developed by CPIIS and secured a significant additional investment from its founding shareholders.
 
The FlexOS technology platform enables the manufacture of high-performance, ultra-thin, high-definition display screens on flexible plastic substrates, particularly suitable for portable devices such as smartphones and tablets and the emerging market for wearable devices.
 
NeuDrive has committed to the further development and refinement of the FlexOS platform so that it will play a leading role in the development of sensors, biosensors and diagnostic devices. It is anticipated that these devices will play an important part in the development of the pharmaceutical and life Ssciences industries as there now exists a capable interface between traditional electronics and organic materials.
 
Diagnostic Capital Limited has acted as advisors to NeuDrive’s shareholders for this transaction and has taken a 5% shareholding in NeuDrive.
 
“We are delighted to have completed this transfer and to take our relationship with Ray Fisher and his team to the next stage,” said Nigel Perry, CEO, CPI. “This transaction represents a successful development through the challenging technology readiness level chain TRL 5 to TRL8, where it is now ready for commercialization. The relationship with Peakdale Molecular and now NeuDrive is an excellent example of how an entrepreneurial UK company bid its way into a technology space and used its skills and people to add value and out-innovate global companies to develop a viable new product.’
 
“We are delighted to finalize these arrangements with CPIIS which builds upon a successful eight-year relationship and consolidates our position at the forefront of the commercialization of this exciting area of technology,” added Ray Fisher, founder and CSO, NeuDrive. “We look forward to continuing to work with CPI and the High value Manufacturing Catapult in developing new applications for organic thin film transistors.”
 
NeuDrive Limited was acquired by Ray and Christine Fisher, the founders of Peakdale Molecular Limited, in July 2014 as part of the transactions that led to the formation of Concept Life Sciences. NeuDrive was established as a vehicle to continue the development and commercialization of organic electronic materials including IP jointly developed by Peakdale Molecular and CPI as part of the Northern Way Printed Electronics Supply Chain Project.