IP Group news 0

IP Group plc (LSE: IPO) (“IP Group”), the developer of intellectual property based businesses, is pleased to note that Tissue Regenix Group plc (“Tissue Regenix” or “the Company”), a regenerative medical device company that is held within the IP Group portfolio and a spin-out company from the University of Leeds, has today announced a conditional placing (“Placing”) to raise £25 million before expenses.

Following completion of the Placing, IP Group and its managed funds will together hold a 17.6% beneficial interest in Tissue Regenix. IP Group will hold a 13.8% beneficial interest, while IP Venture Fund, a specialist venture capital fund managed by the Group, will hold a further 3.8%. IP Group has committed £2.5 million to the Placing, which has been fully underwritten by Peel Hunt LLP who are acting as sole nominated adviser and broker. At the placing price of 13.75p, IP Group's 13.8% beneficial interest in Tissue Regenix will be valued at £12.4 million.

Tissue Regenix was incorporated in May 2006 to commercialise the academic research of Professor Eileen Ingham and Professor John Fisher from the University of Leeds in the field of tissue decellularisation. Its dCELL® Technology comprises a patented process which removes cells and other components from human and animal tissue allowing it to be used without anti-rejection drugs to replace worn out or diseased body parts.

The full text of the announcement issued by Tissue Regenix is copied below.

For more information, please contact:
IP Group http://www.ipgroupplc.com/

Alan Aubrey, Chief Executive Officer
+44 (0) 20 7444 0050
Liz Vaughan-Adams,
Communications
+44 (0) 20 7444 0062/07979 853802
[email protected]

Financial Dynamics
Ben Atwell, John Dineen +44 (0) 20 7831 3113

Notes for editors

About IP Group

IP Group is a leading UK intellectual property ("IP") 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.

The Company's portfolio comprises holdings in over 60 companies including 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.

The portfolio includes early stage to mature businesses and has exposure to five main sectors – Energy & Renewables, Medical Equipment & Supplies, Pharma & Biotech, IT & Communications and Chemicals & Materials. To date, thirteen of the portfolio companies IP Group has backed have listed on the AIM market of the London Stock Exchange and one on PLUS Markets.

Founded in 2001, IP Group listed on AIM in October 2003 and moved to the Official List in June 2006. The Group now has long-term partnerships with twelve core universities including those under its commercialisation agreement with Fusion IP plc.

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

For full announcement, please see RNS.