Neil Woodford's Imperial Innovations stake tops 20%

Leading UK investor spends 11.6m for extra slice of Imperial College London offshoot that funds and licenses scientific research

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 sold shares to investors in February to raise 100m to support existing investments. 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. Woodford Investment Management's stake will rise to 21% from 19.9%.