IP Group news .

IP Group plc (LSE: IPO) ("IP Group" or "the Group), which develops world-changing science and technology businesses across life sciences, technology and cleantech, is pleased to announce that it has co-led an $11m (£8.4m*) Series A round into GripAble Ltd (“GripAble” or “the Company”), a digital healthcare start-up delivering rehabilitation programmes to people with neurological and musculoskeletal conditions.

The new funding will enable GripAble to expand its industry-leading data platform and therapy services, with a particular focus on growing markets in Europe and the US.

IP Group committed £3.5m to the funding round and, following completion, has an undiluted beneficial holding of 25.4% in GripAble. Parkwalk, IP Group’s wholly owned EIS fund manager, also committed £3.5m to the round.

Dr Sam Williams, Managing Partner of Life Sciences at IP Group plc, said: “IP Group has had great success in the digital therapy market with our investment in Hinge Health and we see similar potential in GripAble. We’re therefore delighted to be supporting the company’s journey as it develops into a fully-fledged commercial organisation.”

GripAble’s mission is to make outcome-driven care scalable and accessible to all, delivering high volumes of efficient and personalised therapy from hospital to home. Through its digitally led care pathway, combining bespoke hand-held sensors, engaging, gamified app software, and hybrid tele-therapy services, GripAble will allow more patients to access gold standard physical and cognitive rehab for longer, driving improved outcomes whilst reducing costs.

Martin Glen, Investment Director at Parkwalk Advisors, said: “Parkwalk is excited to be backing this breakthrough digital rehabilitation technology as it grows and enters new markets. In particular, we are hopeful that GripAble can reproduce its strong initial success in the UK in the significantly larger US market. This would enable many more patients to access the sustained level of rehabilitation therapy that they require for a positive outcome post-injury. GripAble was an early investment in the Parkwalk-managed Imperial College Innovation Fund and is the second such company to receive further investment from Parkwalk. It is a reflection of the strength of Imperial College’s research in STEM subjects that this breakthrough technology emerged from its labs.”

With more than 8,000 individuals having already used the platform, GripAble has established itself as a leading technology in the remote-rehab space in the UK, recording 100,000 activity sessions and 27 million movement repetitions across its users.

*GBP equivalent using 1.31 USD/GBP

For more information, please contact:

IP Group plc	www.ipgroupplc.com
Liz Vaughan-Adams, Communications	+44 (0) 20 7444 0062/+44 (0) 7967 312125
Charlotte Street Partners
David Gaffney	+44 (0) 7854 609998
Andrew Wilson	+44 (0) 7810 636995

Notes for editors

About IP Group

IP Group develops world-changing science and technology businesses across life sciences, technology and cleantech. The Group has a strong track record of success, having been the founder investor in a number of high-profile companies including Oxford Nanopore Technologies plc, and has one of the most exciting portfolios of high-growth businesses in Europe. The Group also owns Parkwalk, the UK's largest growth EIS fund manager which backs world-changing technologies emerging from the UK’s leading universities and research institutions. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.

Group holdings in portfolio companies reflect the undiluted beneficial equity interest excluding debt, unless otherwise explicitly stated.

For more information, please visit our website at www.ipgroupplc.com.

ENDS