IP Group news 0

IP Group plc (LSE: IPO) (“IP Group” or “the Group”), the developer of intellectual property-based businesses, is pleased to note that hVIVO plc (“hVIVO” or “the Company”) has raised, subject to certain conditions, £20.5m (before expenses) by way of a placing of new Ordinary Shares with existing institutional shareholders at a price of 225 pence per share.

hVIVO, which is a life sciences company pioneering a technology platform of human disease models to accelerate drug discovery and development in respiratory and infectious diseases, plans to use the proceeds of the placing to progress PrEP-001 to Phase IIb, commence the stratification of asthma and advance the flu pathomics outputs into product candidates.

IP Group has agreed to subscribe for 1.1 million placing shares, representing £2.47 million. Following the completion of the placing, IP Group will be beneficially interested in 13,063,883 ordinary shares in the Company, representing approximately 16.7% of the enlarged issued share capital.

For more information, please contact:

IP Group plc www.ipgroupplc.com

Alan Aubrey, Chief Executive Officer
Greg Smith, Chief Financial Officer
Liz Vaughan-Adams, Communications             +44 (0) 20 7444 0050

+44 (0) 20 7444 0062/+44 (0) 7979 853802
FTI Consulting 
James Melville-Ross/Simon Conway/
Victoria Foster Mitchell +44 (0)20 3727 1000

Notes for editors

About IP Group

IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiary IP Capital), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in over 90 early-stage to mature businesses across four main sectors -- Biotech, Cleantech, Healthcare and Technology. The Company is listed on the Main Market of the London Stock Exchange under the code IPO.

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

ENDS