IP Group plc (LSE: IPO) ("IP Group" or “the Group”), the developer of intellectual property based businesses, is pleased to note that portfolio company Medaphor Group plc (“Medaphor” or “the Company”) has today announced its admission to AIM and the commencement of dealings in its Ordinary Shares.
Medaphor (AIM: MED), a spin-out from the University of Cardiff, is a global provider of advanced ultrasound education and training simulators for medical professionals. Its lead product is the ScanTrainer ultrasound simulator training platform which assists students, doctors and sonographers to acquire ultrasound scanning skills with minimal expert supervision and without the need of a patient to practise on.
Post admission, IP Group is directly beneficially interested in 7,966,000 ordinary shares in Medaphor, representing 39.6% of Medaphor’s enlarged issued share capital, valued at £4.0 million at the placing price of 50 pence per share. The admission of Medaphor to AIM will result in an unrealised fair value gain to IP Group of £0.8 million at the placing price. In addition, IP Venture Fund II LP, a venture capital fund managed by the Group and in which the Group has a 33% interest, has a beneficial interest in 1,534,000 ordinary shares, representing 7.6% of Medaphor’s enlarged issued share capital. IP Group and IP Venture Fund II have committed £1.3 million and £0.6 million respectively to the placing.
For more information, please contact:
IP Group plc www.ipgroupplc.com
Alan Aubrey, Chief Executive Officer
Liz Vaughan-Adams, Communications
+44 (0) 20 7444 0050
+44 (0) 20 7444 0062 / +44 (0) 7979 853 802
John Dineen +44 (0) 20 7831 3113
Notes for editors
About IP Group
IP Group is a leading UK intellectual property commercialisation company, developing technology innovations primarily from its research intensive partner universities. The Group offers more than traditional venture capital, providing its companies with access to business building expertise, networks, recruitment and business support.
IP Group's portfolio comprises holdings in around 90 early stage to mature businesses across the Healthcare, Biotech, Cleantech and Technology sectors. These businesses include Oxford Nanopore Technologies, the DNA sequencing development company, Revolymer, best known for its removable chewing gum and Xeros, which has received many accolades for its revolutionary clothes washing techniques with a much reduced requirement for water.
For more information, please visit our website at www.ipgroupplc.com.