UTEK Corporation (NYSE:UTK)
Industry: Services
UTEK Corporation is a business development company, which operates a technology transfer business that assists commercial enterprises in identifying and acquiring new technologies primarily developed by universities, medical centers and federal research laboratories. The Company also provides its client companies with a range of complementary technology transfer-related services and products, including the provision of technical and business services to help companies identify, assess, protect and leverage intellectual property assets. As of December 31, 2005, UTEK had investments in over 50 portfolio companies. The Company has transferred a number of technologies to these and other companies ranging from a method to remove water-soluble forms of arsenic from water to a method to facilitate cost effective production of ethanol from waste biomass for fuel additives. During the year ended December 31, 2005, UTEK completed 14 technology transfers and entered into 34 alliance agreements. Its wholly owned subsidiaries include UTEKip Ltd., formerly INTRA-DMS, Ltd. (Israel), UTEK-Europe, Ltd. (Europe) and UTEK-EKMS, Inc. On January 29, 2005, the Company purchased 100% of the outstanding stock of UTEKip Ltd. On July 7, 2005, the Company purchased 100% of the assets of Knowledge Express Data Systems (Knowledge Express), a United States-based, online intellectual property information service. Knowledge Express is positioned to service the intellectual property needs of UTEK, its subsidiaries and its customers. On September 30, 2005, the Company entered into an agreement and plan of acquisition with Ybor City Group, Inc., subsequent to which UTEK completed the acquisition. Ybor City Group is a real estate holding company that owns a commercial real estate property in Tampa, Florida. UTEK's technology-transfer transactions generally involve three steps. First, the Company enters into an alliance agreement with companies to learn about their technology needs and identify new discoveries that they want to acquire. Second, UTEK forms and capitalizes a new company to acquire the identified technology from a university, medical center or federal research laboratory. Third, companies acquire the identified technology from UTEK in a tax-free, stock-for-stock exchange of shares of UTEK's newly formed entity for shares of the company. The Company's most significant portfolio investments, at December 31, 2005, were in Industrial Biotechnology Corp., Xethanol Corp., KP Renewables, plc, Trio Industries Group, Inc., Fuel FX International, Inc. and UTEK Real Estate Holdings, Inc. These six investments represented 51% of UTEK's investments at December 31, 2005. The Company has developed relationships with universities and research centers primarily in the United States and, to a lesser extent, in Canada, Europe, Russia, Ukraine, Japan and Chile. In addition, it has also entered into agreements with universities and research centers in order to provide UTEK early access to new technologies. UTEK also has technologies available to license on its Pharma-Transfer.com, Techex.com, KnowledgeExpress.com and Uventures.com intellectual capital exchanges from more than 200 universities and research institutions worldwide. TechEx.com Website is used by technology transfer and research professionals to exchange biomedical licensing opportunities and innovations available for partnering. KnowledgeExpress.com Website is used by technology transfer, intellectual property, licensing and business development professionals in universities, corporations and government agencies for access to an information platform combining business development and technology resources with search and report generation. Uventures. com Website is an Internet-based exchange primarily used for the marketing of physical science technologies developed at universities and research organizations. Pharma-Transfer.com Website tracks the research and development efforts of universities, research institutions and life science companies in order to locate and deliver advanced technolo
As Of: 10/07 00:00 ET
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