IP Group PLC IP Group, Inc. raises $50.0m (GBP36.5m*) of funding
February 10 2021 - 1:00AM
RNS Non-Regulatory
TIDMIPO
IP Group PLC
10 February 2021
FOR RELEASE ON 10 February 2021
IP Group plc - IP Group, Inc. raises additional $50.0m
(GBP36.5m*) of funding
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the
developer of intellectual property-based businesses, is delighted
to announce that IP Group, Inc., its North American platform, has
secured an additional $50.0m (GBP36.5m*) of funding, including
$40.0m from a new US blue-chip institutional investor.
IP Group plc committed $10.0m of funding and now has a 61.3%
interest in the North American platform. This brings the total
funds raised by the team over the past twelve months to $63.5m,
including $15.0m from IP Group plc.
This additional funding is consistent with the Group's strategy
of financing IP Group, Inc. alongside third-party strategic
investors. The funds will support the continued growth of the
platform's maturing portfolio as well as its pipeline of new
opportunities.
IP Group, Inc. discovers and builds early-stage companies with
extraordinary commercial potential, based on world-changing
technology emerging from some of the most prestigious universities
and national laboratories in the United States. These include: The
University of Pennsylvania, Yale University, Princeton University,
Columbia University, Johns Hopkins University and the University of
Washington. The Company has holdings in a number of exciting growth
technology companies including MOBILion Systems, Uniformity Labs,
Exyn Technologies and Carisma Therapeutics.
* GBP equivalent using 1.37 USD/GBP.
For more information, please contact:
IP Group plc www.ipgroupplc.com
Greg Smith, Chief Financial Officer +44 (0) 20 7444 0050
Liz Vaughan-Adams, Communications +44 (0) 20 7444 0062/+44 (0)
7979 853802
liz.vadams@ipgroupplc.com
Charlotte Street Partners
David Gaffney +44 (0) 7854 609998
Andrew Wilson +44 (0) 7810 636995
IP Group Inc.
Frank De Maria, Purposeful Communications +00 1 347 647 0284
frank.demaria@purposefulcommunications.com
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
early-stage to mature businesses across life sciences and
technology. IP Group is listed on the Main Market of the London
Stock Exchange under the code IPO. Group holdings in portfolio
companies reflect the undiluted beneficial equity interest
excluding debt, unless otherwise explicitly stated. For more
information, please visit our website at www.ipgroupplc.com .
ENDS
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