Oxford Technology is the specialist
in the start-up and early stage technology sector
Tax Shelter Report, Allenbridge


Oxford Technology VCT was listed on the London Stock Exchange in April 1997. It raised £4.85m in 1997-98. Further top-up offers have raised a further £245k. The fund is now fully invested.

Net asset value per share was 49.6p as at 28 February 2019.

Dividends paid to 28 Feb 2019 total 55p per share, mainly resulting from the sales of Valid Information Systems, MET, and part of OT1's holding in Scancell.


The Key Information Document for OT VCT is available here: KID OT1.pdf



Bio Cote Logo

BioCote - Investment Information for OT1
Date of First Investment Dec 1997

BioCote is based in Wolverhampton and has developed a range of anti-microbial coatings. BioCote's business model is to license the use of its technology to manufacturers of products, which then gives built-in antimicrobial protection. The technology, which is based on silver, is supplied primarily to the healthcare, food and other hygiene conscious industries. BioCote aims to provide a full service to its customers. It supplies not only the anti-microbial surface or the ingredients with which to make it, but also training, help with regulatory issues, of which there are many, a full testing service, help with product launch and support at exhibitions.

BioCote’s anti-microbial surface is effective against MRSA and C.Diff, and the coating, in a variety of formulations, may be applied to all surfaces in hospitals (for example), including, floor, walls, ceiling, beds, furniture, bed linen, furniture etc. This provides a second line of defence against infection, the first being provided by what should be normal hygiene and cleaning regimes.



Getmapping- Investment Information for OT1
Date of First Investment Mar 1999

OT1 was the first investor in Getmapping when the company was founded in 1999. The company was formed to make the first complete aerial photograph of the UK, known as the Millennium Map.

Critical to Getmapping’s business plan was that Ordnance Survey had no interest in aerial photography as a product, and had signed an agreement with Getmapping under which it would re-sell the Millennium Map to local and central government users. But in 2001, after the company had raised £10m on AIM, OS terminated the reseller agreement and started to develop its own rival product. This was a devastating blow to Getmapping, which took court action against OS. But in the event, Getmapping did not have enough capital to see the case through. Getmapping had to drastically downsize and came close to going bankrupt. The share price fell and the company delisted to save costs.

However, Getmapping persevered and the business survived and has prospered. The business now has numerous different strands, so that it is less dependent on any one of them than was once the case. For example, in an attempt to become less dependent on the UK, Getmapping is becoming a significant supplier of aerial photography and mapping services in Africa, which despite its many problems is now growing fast, and has a large need for current aerial survey services to support its growing infrastructure programs and resource exploitation.

Queens College - Oxford

Scancell Ltd


Scancell- Investment Information for OT1
Date of First Investment Aug 1999
Scancell- Investment Information for OT3
Date of First Investment Dec 2003
Scancell- Investment Information for OT2
Date of First Investment April 2018

Scancell is an AIM listed biotechnology company in which Oxford Technology VCT was one of the original investors in 1999 when Professor Lindy Durrant, Scancell’s founder was based in a university lab in Nottingham.

Scancell is developing novel immunotherapies for cancer based on two platform technologies, known as ImmunoBody and Moditope. Scancell’s first ImmunoBody, SCIB1 is being developed for the treatment of melanoma and is in Phase II clinical trials. In theory, these Scancell technologies could be used to treat many common forms of cancer, including breast and prostate. Data from the trials to date is encouraging and demonstrate that SCIB1, when used as monotherapy, has a marked effect on tumour load, produces a melanoma-specific immune response and highly encouraging survival trend without serious side effects.

Scancell has also identified and patented a series of modified epitopes that stimulate the production of killer CD4+ T cells that destroy tumours without toxicity. The Directors believe that the Moditope® platform could play a major role in the development of safe and effective cancer immunotherapies in the future.

Scancell remains a high risk investment – clinical trials can go either way, but if the trials go well, we would expect to see a significant increase in the share price. The whole area of cancer immunology is now centre stage for major pharmaceutical companies seeking to secure a long term position, as this very new exciting area starts to deliver excellent clinical outcomes, which are anticipated to replace current crude, but often effective, treatments based around chemotherapy and radiotherapy.

New data published in March 2015 demonstrated that animals treated with a combination of SCIB2, Scancell's ImmunoBody® vaccine in development for the treatment of lung, oesophageal, prostate and other epithelial cancers, and checkpoint inhibition showed enhanced tumour destruction and significantly longer survival times than when either treatment was used alone which is positive news.

Scancell Holdings is listed in the FTSE AIM All-Share Index in the Pharmaceuticals & Biotechnology sector. (Code SCLP)

Click here for Scancell shareprice information

Select Technology Ltd


Select Technology- Investment Information for OT1
Date of First Investment Sep 1999
Select Technology- Investment Information for OT2
Date of First Investment Nov 2001
Select Technology- Investment Information for OT3
Date of First Investment Nov 2004
Select Technology- Investment Information for OT4
Date of First Investment Aug 2006

Select Technology specialises in software for photocopiers (now known as MFDs – Multi-function devices – since they scan, fax, email and do other other tasks in addition to photocopying). There are two strands to the business: (1) writing software which sits at the heart of MFDs and which greatly improve the user experience, enabling users to access all software programs to which they are entitled with a single sign on, and giving these programs the same ‘look and feel’, and (2) software distribution: Select is the European master-distributor for PaperCut, a world-leading print-management software product.

As with computers in the 1980s, MFD hardware has become a commodity product with little to choose between the offerings of most companies. Increasingly, what makes customers choose one make in preference to another is the quality and ease of use of the many software programs which run on them. Most MFDs will be on networks, so that, for example, a user may scan a document in London and print it out in New York and Tokyo. The accounting software will need to determine how the cost of this is allocated. Different users will have different usage rights to the software. The MFDs will need to identify users and some will use cards, other PIN numbers, and other biometric scans. Getting everything to work together, and giving everyone a good user experience is non-trivial, which is why there is a need for Select, which has specialised in this area for many years. It has taken a long time, but Select’s financial performance is now improving and sales are increasing.

Payment system at Cardiff University

Share Price Information and RNS Announcements

For information from the London Stock Exchange on the share price for OT1 and all RNS announcements, please click on the image below: