US

IP2IPO Group Plc – Proposed change of name, division of share capital and board appointment

31 Mar 2006

IP2IPO Group plc (AIM: IPO) ("IP2IPO" or "the Company") announces that it has today posted to shareholders a Notice of its Annual General Meeting at which resolutions will be proposed for approval to change the name of the Company to IP Group plc and to divide the Company's share capital through a 5 for 1 share split. The Board of Directors has proposed to change the name of the Company to reflect better the breadth of its involvement in the generation of value from intellectual property created by research intensive institutions.

This value generation occurs through diverse channels, rather than solely through the IPO of spin out companies, and therefore the Board believes that the proposed new name, IP Group plc, is more appropriate. The effect of the proposed subdivision of the Company's share capital will be that every issued and unissued ordinary share of 10p will be subdivided into 5 ordinary shares of 2p each. The share split will not affect the Company's nominal share capital nor shareholders' rights. The Company is pleased to announce that Magnus Goodlad has been appointed to the Board of Directors. Magnus has worked for IP2IPO since June 2004, following the acquisition by the Company of Top Technology Ventures Ltd. Magnus's principal responsibilities include the management of corporate transactions for the Company and acting as an investment manager of Top Technology Ventures Ltd, the Company's venture capital fund management subsidiary. Prior to joining Top Technology Ventures Ltd in 2000, Magnus worked at Slaughter and May, practising a wide range of corporate and finance law.

Alan Aubrey, Chief Executive of IP2IPO, commented: "We are delighted to announce Magnus Goodlad's appointment to the Board. He has made a major contribution to the growth of the Company to date and we look forward to his contribution to the Board in the future." The Annual General Meeting will be held at 3pm on 25 April 2006 at Buchanan Communications, 45 Moorfields, London EC2Y 9AE. The following information is provided in accordance with paragraph 17 and schedule 2(g) of the AiM Rules: Magnus James Goodlad, aged 33, holds the following directorships: Nanotecture Group plc, Perpetuum Limited, Commerce Decisions Limited and St Matthews Conference Centre Limited. In addition, he has held the following directorships during the past five years: OneClickHR plc, Purple House Limited, ScooterSolutions Limited and Richborne (30) Limited. There is no further information which falls to be disclosed pursuant to schedule 2(g) of the AiM Rules of London Stock Exchange plc.

For more information please contact:

IP2IPO 020 7489 5200
Alan Aubrey, Chief Executive Officer  
Buchanan Communications 020 7466 5000
Tim Anderson, Mark Court, Mary-Jane Johnson  


Notes for editors

IP2IPO is an intellectual property (IP) company that specialises in commercialising university technology. The Company was founded in 2001 and listed on the AIM market of the London Stock Exchange plc in October 2003. IP2IPO's first partnership was with the University of Oxford. In return for an investment of £20 million, IP2IPO has acquired 50 per cent of the University of Oxford's equity in spin-out companies and technology licenses based on intellectual property created at the Chemistry Department until 2015.

In November 2003, IP2IPO created a £5 million seed capital fund for investing in spin-out companies across the University of Oxford, not just those originating within the Chemistry Department. In March 2002, IP2IPO entered into a second long-term partnership with the University of Southampton. Under the terms of this partnership, IP2IPO is committed to working with the University of Southampton in the identification and facilitation of spin-out companies from across the University of Southampton and to investing £5 million in early-stage University of Southampton spin-out companies over a four year period in return for equity stakes in those companies. In addition, IP2IPO also received a 20 per cent stake in Southampton Asset Management Limited, a company that has been formed to hold the University's equity stakes in its spin-out companies. The partnership has a term of at least 25 years. IP2IPO entered into its third long-term partnership in May 2003 with King's College London.

IP2IPO works with King's College London to help identify and progress commercialisation opportunities as well as invest £5 million in seed capital in spin-out companies from King's College London over a five year period in return for equity stakes in those companies. In addition, IP2IPO receives 20 per cent of King's College London's equity in spin-out companies and technology licenses. The partnership has a term of 25 years. In October 2003, IP2IPO announced a fourth partnership with the Centre for Novel Agricultural Products ("CNAP"), based at the University of York. CNAP is a flagship research centre that specialises in plant and microbial gene discovery. Under the terms of the partnership a new company, Amaethon Limited, has been created which has the right to commercialise CNAP's IP for 25 years. IP2IPO has invested £1.15m in Amaethon Limited in return for a 40% equity stake in Amaethon Limited (the remaining equity being owned by the University of York) and will also invest in the spin-out companies based on CNAP's IP which Amaethon Limited creates. In June 2004, IP2IPO acquired Top Technology Ventures Limited, an investment adviser to early stage technology funds. This combines IP2IPO's expertise in the creation of new ventures based on world leading university IP with Top Technology's focus on making early stage venture capital investments. In January 2005, IP2IPO acquired Techtran, a company set up in 2002 to commercialise university intellectual property under a long-term technology commercialisation contract with the University of Leeds. Under the terms of the contract Techtran receives a significant (30%) interest in spin-out companies created and technology licences negotiated, in return for the provision of technology transfer services to the University.

In May 2005, IP2IPO announced the launch of LifeUK, a new subsidiary company. LifeUK, which has since been renamed Modern Biosciences, will in-license life science intellectual property created by medical researchers at universities with which IP2IPO already has partnerships, other universities in the UK and similar academic and charitable research institutions. Modern Biosciences' objective is to further develop the intellectual property which it in-licenses with a view to creating substantial value either by subsequently licensing these development programmes to the pharmaceutical industry or via the creation of new ventures. In December 2005, IP2IPO entered into its sixth long-term partnership with the University of Bristol. IP2IPO will work with the University of Bristol to help identify and progress commercialisation opportunities as well as invest an initial £5 million in seed capital in spin-out companies from the University of Bristol over a five year period in return for equity stakes in those companies. In addition, IP2IPO will receive 13.3% per cent of in spin-out companies at the time that the company is established prior to investment. The partnership has a term of 25 years. In February 2006, IP2IPO entered into its seventh long-term partnership with the University of Surrey. IP2IPO will work with the University of Surrey to help identify and progress commercialisation opportunities as well as invest an initial fund of up to £5 million in seed capital in spin-out companies from the University of Surrey in return for equity stakes in those companies. In addition, IP2IPO will receive 13.3% per cent of in spin-out companies at the time that the company is established prior to investment. The partnership has a term of 25 years. In March 2006, IP2IPO entered into an exclusive long-term partnership with the University of York.

The partnership is in addition to IP2IPO's current partnership with the Centre for Novel Agricultural Products. IP2IPO will work with the University of York to help identify and progress commercialisation opportunities as well as invest an initial fund of £5 million in seed capital in spin-out companies from the University of York in return for equity stakes in those companies. In addition, IP2IPO will receive 25% of the equity in any spin-out company from the University at the time that the company is established, prior to investment, if IP2IPO invests in the company from the fund and 15% of the equity if it does not invest from the fund. IP2IPO will also receive 10% of any income which the University of York receives from licensing during the lifetime of the partnership. The partnership has a term of 25 years. To date, 6 spin-out companies from the IP2IPO portfolio have listed on the AIM Market of the London Stock Exchange plc: Offshore Hydrocarbon Mapping plc, Synairgen plc, VASTox plc, Proximagen Neuroscience plc, GETECH Group plc and Syntopix Group plc. There has been one trade sale: Toumaz Technology Limited was sold to Nanoscience Inc.