Allied Minds and GE Ventures Form Strategic Alliance to Commercialize Leading-Edge Technologies
Collaboration Intends to Invest in New and Existing Companies Based on Leading Technologies from GE and
Allied Minds’ Combined Portfolio and Pipeline
Allied Minds plc (LSE: ALM) (“Allied Minds”) and GE Ventures (NYSE: GE) (“GE”), today announced the launch of a strategic
alliance to jointly identify and commercialize next-generation technologies. Under the terms of the agreement, Allied Minds and GE
Ventures agree to invest in new and existing technologies sourced from both Allied Minds’ and GE’s innovation pipelines.
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The strategic alliance expands Allied Minds’ deep network of research and development partners to include GE’s leading
early-stage technologies in healthcare, transportation, energy, and big data. Allied Minds receives an exclusive right of first
refusal to license certain technologies, chosen by GE, which are of strategic interest to the companies. GE will also have the
opportunity to invest in select innovations sourced from Allied Minds’ network of over 160 university and federal research
partners.
Each year, Allied Minds reviews thousands of intellectual property (“IP”) opportunities from some of the nation’s best
universities and federal labs to identify innovations with the potential to have a significant impact on commercial markets. If an
emerging technology passes its due diligence, Allied Minds forms, funds, manages, and builds a subsidiary company that gives the
inventors and their institutions a stake in its success.
GE Ventures accelerates innovation and growth for its partners by providing access to GE’s cutting-edge technologies and an
extensive IP portfolio through licensing, technology transfer, joint development, and other strategic business models. By bringing
together Allied Minds’ commercialization process and GE Ventures’ innovation expertise, the strategic alliance can leverage the
combined technology, marketing, fundraising, start-up development, and management capabilities of the two entities.
“What drives Allied Minds is disruption of the status quo in cooperation with our research partners,” said Chris Silva, CEO of
Allied Minds. “Our new partnership with GE, a globally-renowned leader in innovation, allows us to begin tapping into the vast
potential of IP being developed within the laboratories of leading commercial companies. Allied Minds is delighted to work with GE
and to gain direct access to its technologies while providing GE with exposure to Allied Minds’ portfolio and pipeline of
innovations sourced from its network of partners.”
“GE is excited to have Allied Minds as a channel partner for venture creation,” said Pat Patnode, President of Licensing at GE
Ventures. “Allied Minds’ capabilities and experience in early stage technology development complement GE’s diverse IP portfolio. We
look forward to building opportunities with our combined expertise.”
About GE Ventures
GE Ventures is committed to identifying, scaling, and accelerating ideas that will make the world work better. Focused on the
areas of software, advanced manufacturing, energy, and healthcare, GE Ventures helps entrepreneurs and start-ups succeed by
providing access to GE's technical expertise, capital, and opportunities for commercialization through GE's global network of
business, customers, and partners. GE Ventures offers an unparalleled level of resources through its Global Research Center,
including: 35,000 engineers; 5,000 research scientists; 8,000 software professionals; as well as 40,000 sales, marketing, and
development resources in over 100 countries. For more information, please visit www.geventures.com.
About Allied Minds
Allied Minds (LSE: ALM) is a diversified holding company focused on venture creation within the life science and technology
sectors. With unparalleled access to hundreds of university and federal labs across the U.S., Allied Minds forms, funds, and
operates a portfolio of companies to generate long-term value for its investors and stakeholders. Based in Boston, with nationwide
presence in Los Angeles and New York, Allied Minds supports its businesses with capital, central management, and shared services.
For more information, please visit www.alliedminds.com.
Allied Minds Forward-Looking Statement
This press release contains statements that are or may be forward-looking statements, including statements that relate to the
company’s future prospects, developments and strategies. The forward-looking statements are based on current expectations and are
subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ
materially from current expectations, including, but not limited to, those risk and uncertainties described in the risk factors
included in the company’s regulatory filings. These forward-looking statements are based on assumptions regarding the present and
future business strategies of the company and the environment in which it will operate in the future. Each forward-looking
statement speaks only as at the date of this press release. Except as required by law, regulatory requirement, the Listing Rules
and the Disclosure and Transparency Rules, neither the company nor any other party intends to update or revise these
forward-looking statements, whether as a result of new information, future events or otherwise.
fama PR for Allied Minds
Ted Weismann, 617-986-5009
alliedminds@famapr.com
or
GE Ventures
Kristin Schwarz, 646-682-5601
kristin.schwarz@ge.com
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