Neil Woodford, one of Britain’s top investors, has spent £11.6m to take his stake to more than 20% in Imperial Innovations, an offshoot of Imperial College London that funds and licenses scientific research. Imperial Innovations shares rose 2.2% to 435p. It has an agreement with Imperial College until 2020 and also backs research from University College London (UCL), Oxford and Cambridge. Woodford’s fund has received approval from the Financial Conduct Authority to own 20% or more of the shares as agreed at the time of the placing, Imperial Innovations said. Imperial Innovations sold shares to investors in February to raise £100m to support existing investments.

Source: The Guardian June 13, 2016 10:11 UTC