Touchstone Innovations (IVO)

Business description

Touchstone Innovations is a technology transfer, incubation and venture investment company. It invests in ventures from Imperial College London, Cambridge and Oxford Universities and UCL. The majority of its investments are bio/med tech.

Stock data

Market cap.£495.9m
Last close307.63p
High / Low (52 weeks)467.9p / 280.0p
Stock market listingLN
Forecast net cash (£m)41.4
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(11.4)(2.5)(19.6)
Relative *(9.1)(2.7)(28.3)

* % Relative to local index

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Company news

Beaufort Securities Breakfast Alert: AstraZeneca, Touchstone Innovations Plc

Mon, 03 Apr 2017 07:07:30 GMT

Shares in Focus: Touchstone Innovations Plc (AIM:IVO)

Mon, 24 Apr 2017 12:00:00 GMT

Touchstone Innovations Invests In Abzena But Sees Stake Diluted (ALLISS)

Fri, 21 Apr 2017 10:40:46 GMT

Touchstone Innovations PLC (IVO) Now Covered by Jefferies Group LLC

Sun, 23 Apr 2017 15:59:45 GMT

Touchstone Innovations Invests Further GBP3.0 Million In Pulmocide

Mon, 20 Mar 2017 07:52:30 GMT

Investment summary

Touchstone Innovations’ (IVO) portfolio continues to grow – net portfolio value rose by £47.7m to £382.8m, mainly driven by investments of £29.0m across 18 companies (vs £27.5m in 17 companies in H116) and a fair value gain of £26.5m (mainly from a £21.9m uplift in the value of PsiOxus). Four new additions to the portfolio across both tech and healthcare, and the advancement of projects in both the UCL technology fund and Apollo Therapeutics, continue to strengthen the early-stage pipeline. We anticipate major deal activity to drive further value in the next 12 months.

Last updated on 04/04/2017

Y/E Jul Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 5.1 (8.2) (7.4) (5.4) N/A N/A
2016A 4.3 (9.8) (9.8) (6.7) N/A N/A
2017E 4.4 (10.3) (11.0) (6.8) N/A N/A
2018E 4.5 (10.9) (11.6) (7.2) N/A N/A

Last updated on 04/04/2017

Latest video

Executive Interview - Touchstone Innovations

Industry outlook

The investment case rests on the hidden portfolio value and the success of investments in maturing companies. There is potential for significant value creation if 'exits' (IPO/M&A/licensing) are achieved at valuations exceeding the typically modest carrying values.

Last updated on 04/04/2017

Key management

David Newlands, Chairman
Russ Cummings, CEO
Nigel Pitchford, Chief Investment Officer
Tony Hickson, Managing Director, Technology Transfer

Company address

7 Air Street
London
W1B 5AD
United Kingdom
+ 44 (0) 207 581 4949
View website