IP Group news 0

IP Group plc (LSE: IPO), the intellectual property commercialisation company, today announces its audited preliminary results for the year ended 31 December 2006.

Financial Highlights

• Profit after taxation: £40.1m (2005: £5.6m)
• Fair value of equity investments: £87.4m (2005: £44.3m)
• Cash proceeds from sales of equity investments: £3.1m (2005: £0.8m)
• Cash balance at 31 December 2006: £51.3m (2005: £39.9m)
• Investment in spin-out companies: £8.5m (2005: £4.2m)

Operational Highlights

• Successful flotation of three portfolio companies during 2006 (2005: two)
• 53 spin-out companies at 31 December 2006 (2005: 37)
• Five new university partnerships signed with the Universities of Bath, Glasgow, Queen Mary (University of London), Surrey, and York, taking the total number of university partnerships to ten
• Eight successful follow-on funding rounds for spin-out companies
• Modern Water launched to address the global issue of the economic availability of fresh water
• IP Exec, IP Group’s in-house executive search function, launched in the year
• Modern Biosciences plc in-licenses first compound as a result of its Memorandum of Understanding with the University of Manchester
• IP Venture Fund, a collaboration with the European Investment Fund launched and makes its first follow-on round investments in IP Group spin-out businesses
• IP Group admitted to the Official List of the UK Listing Authority

Post Year End Highlights

• Eco Chemical Enterprises plc (formerly Perachem Limited), a spin-out from the University of Leeds, joins PLUS Markets.

Commenting on the Group’s preliminary results, David Norwood, Chairman of IP Group, said:

“The success of the first half of the year has continued in the second half, making 2006 the most profitable year in the Group’s history. Three companies from the IP Group portfolio listed on AIM during 2006 while a further eight companies in the private portfolio raised additional capital.

The first half of 2007 has started well with the flotation, through a reverse takeover, of a spin-out company from the University of Leeds. I believe that the critical mass IP Group has in the technology transfer sector, as well as the quality of our tried and tested model, positions the Group well to continue to be the leading intellectual property commercialisation company in the UK.”

For more information, please contact:

IP Group plc	020 7489 5200
Dave Norwood, Chairman
Alan Aubrey, Chief Executive Officer
William Turner, Group Financial Controller
Liz Vaughan-Adams, Communications	020 7489 5206 / 07979 853 802

Further information on IP Group is available on our website: www.ipgroupplc.com

Buchanan Communications	020 7466 5000
Mark Court, Tim Anderson, Mary-Jane Johnson

Preliminary results can be viewed in the PDF file format (PDF 52 KB opens in a new window)