IP Group news 0

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, notes that Istesso Limited (formerly Modern Biosciences plc) has announced the appointment of Professor Sir Keith Peters and Peter Allen as non-executive directors with immediate effect.

Sir Keith is one of the UK’s most distinguished clinician-scientists, having previously been Regius Professor of Physic and Head of the School of Clinical Medicine at the University of Cambridge. From 2005-2016 he acted as Senior Consultant in R&D at GSK, reporting to the President of R&D, during which time he also served on GSK’s Global Safety Board. From 2006-2008 he was interim Director of the MRC National Institute for Medical Research where he played a key role in the conception of the Francis Crick Institute. Sir Keith is a Fellow of the Royal Society and was President of the Academy of Medical Sciences from 2002-2006. His research focused on immuno-inflammatory mechanisms in kidney and blood vessel disease.

Peter Allen has over 20 years’ experience in senior board positions in a wide portfolio of healthcare companies. He is currently non-executive Chairman of Clinigen plc, Advanced Medical Solutions plc and Diurnal Group plc. Peter was Chairman and interim Chief Executive Officer of ProStrakan Group plc at the time of its £292m acquisition by Kyowa Kirin in 2011 and Chairman of Proximagen Neuroscience plc at the time of its £223m acquisition by Upsher Smith in 2012. From 1992-2004 he was Chief Financial Officer of Celltech Group plc where he played a critical role in managing the company’s flotation and several strategic acquisitions, and was Deputy Chief Executive Officer at the time of the company’s £1.5bn acquisition by UCB in 2004. Peter is a qualified chartered accountant by background and has a joint degree in Accountancy and Law.

Sir Keith and Peter join Sam Williams (CEO), Lisa Patel (CSO) and Alan Aubrey (Non-Executive Chairman) on the Istesso board.

Istesso is a majority-owned subsidiary of IP Group and, hence, its results are consolidated into those of the Group rather than being included as a portfolio company held at fair value.

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
Charlotte Street Partners
Andrew Wilson	+44 (0) 7810 636995
Martha Walsh	+44 (0) 7876 245962
Istesso
Dr Sam Williams, CEO	+44 207 444 0066

 

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 subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in approximately 100 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.

About Istesso

Istesso is a drug discovery and development company working in the field of immunometabolism. Istesso’s pipeline of pre-clinical and clinical assets work by reprogramming metabolism to treat autoimmune and inflammatory conditions such as rheumatoid arthritis and multiple sclerosis. Istesso was founded in 2017 as the new holding company for Modern Biosciences plc. For more information please visit www.istesso.co.uk.