As you know, Ocean Tomo has long been an active participant in the development of intellectual property markets and supporting solutions.
Today is a significant day in this regard as I am able to share with you three important announcements pertaining to our affiliate the Intellectual Property Exchange International, Inc. Specifically, I am pleased to report on significant strategic partner investment, new marquee Board appointments and announcement of Founding Member commitments.
Early this morning, the Financial Times reported that IPXI has completed a further $10 million funding round by a group of U.S. and European investors. Importantly, these investors include CBOE Holdings, Inc. (Nasdaq: CBOE), parent of the Chicago Board Options Exchange (CB0E), the world’s largest options exchange and creator of listed options, and Royal Philips Electronics (Philips), the world leader in healthcare, lifestyle and lighting. This investment will allow IPXI to build out its infrastructure in order to issue the first Unit License Right™ (ULR) Contract offerings in 2012.
Concurrent with this transaction, several new Directors have been added to IPXI’s board. Joining IPXI CEO and Co-Chairman Gerard Pannekoek, Ocean Tomo Chief Investment Officer Michael D. Friedman and myself are:
- Marshall Phelps, former Corporate Vice President, IP Policy & Strategy for Microsoft and former Vice President of IP & Licensing for IBM
- Ruud Peters, Executive Vice President and Chief Intellectual Property Officer of Philips; and
- Richard G. DuFour, CBOE’s Executive Vice President
Today’s announcements were possible only after several years of industry town hall meetings and in-depth working sessions with dozens of leading corporate, university and laboratory IP owners to assure that the exchange meets market needs. I expect we will all soon see IPXI as the preeminent marketplace for efficient intellectual property licensing and value discovery.
And be sure to follow @IPXI on Twitter for updates on the development of the world’s first financial exchange focused on intellectual property.