IP Group news 0

IP Group plc (LSE: IPO) ("IP Group" or the "Company" or "Group"), the developer of intellectual property based businesses, today announces that Magnus Goodlad, Chief Operating Officer, has notified the Board of his intention to step down as a Director of the Company with effect from the publication of the Group's Half-Yearly Results at the end of August 2010 to pursue new opportunities.

Alan Aubrey, Chief Executive of IP Group, commented: "I would like to thank Magnus for his very significant contribution to the development of the Group's business in many areas over the past six years. On behalf of all the Board, I wish him every success for the future."

For more information, please contact:

IP Group plc                                                               
Alan Aubrey, Chief Executive Officer  +44 (0) 20 7444 0050                 
Liz Vaughan-Adams, Communications     +44 (0) 20 7444 0062 / 07979 853 802  
                                                                            
Financial Dynamics                    +44 (0) 20 7831 3113                 
Ben Atwell, John Dineen

Notes for editors
 
About IP Group

IP Group is an intellectual property (IP) commercialisation company that specialises in commercialising university technology. Founded in 2001, IP Group listed on AIM in October 2003 and moved to the Official List in June 2006. It has made two acquisitions to date - Techtran, a company set up to commercialise university intellectual property under a long term contract with the University of Leeds, in 2005 and Top Technology Ventures, an investment adviser to early stage technology venture capital funds, in 2004.

IP Group has formed long-term partnerships with ten universities - the University of Oxford, King's College London, CNAP/University of York, the University of Leeds, the University of Bristol, the University of Surrey, the University of Southampton, Queen Mary (University of London), the University of Bath and the University of Glasgow.

The Company's portfolio is diverse with exposure to five main sectors - Energy & Renewables, Medical Equipment & Supplies, Pharma & Biotech, IT & Communications and Chemicals & Materials. To date, twelve portfolio companies have listed on the AIM market of the London Stock Exchange, one on PLUS Markets and there have been four trade sales.

For more information, please visit http://www.ipgroupplc.com/.