New Investment Strengthens Medix-UK.Com’s Position as Number One Medical Portal

Substantial new investment from Summit Alpha Ltd and Classic Fund Management Ltd, today confirmed Medix-UK.com as the UK’s leading Internet portal for the medical profession and underlined its innovative research capability for the pharmaceutical industry.

Medix UK plc was set up by founders Dr Rino Coladangelo, Professor Mike Smith and Robin Guenier in late 1999, and the service was launched to doctors in the summer of 2000. Medix’ business is to provide Internet research and other services in a new way, unrivalled in speed, accuracy and cost-efficiency. To support this, it provides a range of free internet-related benefits exclusively for the UK medical profession, delivering outstanding speed of access, reliability and security. In return, doctors are invited (not required) to spend a few minutes on line each month answering questionnaires and other interactive instruments.

The combination of a detailed database of thousands of doctors and robust proprietary software has made the Medix system remarkably successful, producing comprehensive and statistically valid data within hours of the launch of each survey. To date over fifty surveys have been carried out for a variety of clients, including the media that has commissioned the investigation of matters of public interest such as NHS reform and cannabis use.

The new money, which will be used to extend and improve the Medix service, has been provided by Summit Alpha Ltd and Classic Fund Management Ltd.

Summit Alpha Limited is a company associated with the privately held venture capital company, The Summit Group Limited. The Summit Group Limited, which is owner managed, was formed in 1985 and specialises in providing equity to start-up and early stage businesses, particularly in business services. Based at Broadgate in the City of London, Summit has an investment portfolio valued at £17.8 million at 30 September 2000, and has £20 million to invest through Summit Alpha, of which £18.4 remains available.

Enquiries to: Kit Hunter Gordon, Managing Director, The Summit Group Limited, 3 Broadgate, London, EC2M 2QS. Tel 0207 614 0000.

Classic Fund Management Ltd is a specialist manager of VCT and EIS funds that makes equity investments of between £200,000 and £1.5 million in unquoted private companies and has £45 million under management. The first Downing Classic VCT was launched in November 1998 and there are now five VCT funds under management. Classic is currently investing from its i-Net VCT fund that has a technology focus and from its new generalist VCT, Downing Classic VCT 3 plc.

Enquiries to: Bill Cunningham, Classic Fund Management Ltd, Marble Arch Tower, 55 Bryanston Street, London, W1H 7AJ.

For further details on Medix UK plc contact Rob Wilson, 3hree Communications L its ew generalist VCT, Downing Classic VCT 3 plc.

Enquiries to: Bill Cunningham, Classic Fund Management Ltd
iX Group
Dr Rino Coladangelo
Chief Executive

Lower Gatley
Steeple Morden

Email Address