IP Group Investee Sells Developing Drug Portfolio for GBP75 Million
October 07 2020 - 2:36AM
Dow Jones News
By Jaime Llinares Taboada
IP Group PLC said Wednesday that its investee company Enterprise
Therapeutics Ltd. has sold a portfolio of developing drugs for
respiratory diseases to Roche Holding AG for an upfront payment of
75 million pounds ($96.6 million).
The developer of intellectual property-based businesses said
Enterprise shareholders are also eligible to receive additional
payments based on certain milestones. IP Group has a 21.7%
beneficial shareholding in Enterprise.
The potentiator program portfolio that has been sold includes
ETD002, which recently entered Phase 1 trials. This product is
focused on treating cystic fibrosis, with potential to benefit
people with other severe respiratory diseases.
IP Group said following the transaction, it has realized cash of
GBP183.9 million so far this year, compared with GBP79.5 million in
the whole 2019.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
October 07, 2020 03:21 ET (07:21 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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