International exits

In the last year those TRI Cap members who invested received a financially positive exit from three companies. Sphinx was sold to a South American company and Biopta to Reprocell of Japan. Touch Bionics was bought by Össur, an Icelandic headquartered company.

Rob Dick, Chairman of TRI Cap says: “These Scottish and Borders-based companies are operating on the international stage: a reflection of the quality of research and development we have on our doorstep. The management of all three businesses should be congratulated on the results of their patient negotiations over many months.”

This was especially true at Sphinx where Chairman Martin Reynard managed a challenging cash situation for several months whilst proceeding to manage the exit process. TRI Cap Sphinx investors have so far shared £168K with a little more to come from earnout.

Rob Dick continues: “Members may be encouraged to know that some of our other investee companies will make serious attempts  at exits during the coming year and we wish them well in their important negotiations.”

Read what the press said:
Herald ScotlandScotsmanBiopharma Reporterb3cnewsManufacturing ChemistDrug Target Review4-tradersFirst Word PharmaBiospaceBusiness WireDow JonesDaily Business Group

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