(MENAFN- ProactiveInvestors - UK) Shares in Frontier IP (LON:FIPP) advanced as it struck its first deal with a university outside the UK.
The intellectual property firm is going to work with the Universidade de Evora Portugal to help it spin-off and license activities emerging from its research programmes.
Evora dates back to the sixteenth century and has a leading reputation in energy environment materials and agriculture.
It is involved in a unique R&D cluster for the test and development of cutting edge technologies which has already attracted several blue chip companies into the region.
Frontier IP will receive a share of the equity in each spin-off company created by the university as well as a share in any licensing revenue it receives.
Chief executive of Frontier IP Neil Crabb said: "This agreement with Evora is an exciting step for Frontier IP and is in line with our strategy of developing our relationships internationally adding to the strong relationships we already have with industrial partners in the region.
"We are looking forward to working with Evora to develop and commercialise its IP portfolio."
Shares added 5.26% to 20p a pop
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