5th Aug 2015 07:29
LONDON (Alliance News) - IP Group PLC on Wednesday said it's seeing opportunities to increase the deployment of capital within its existing portfolio of companies, and that it has a "healthy pipeline" of new and potential business opportunities.
IP Group, which works with universities to help develop and commercialise their intellectual property, said the value of its portfolio amounted to GBP478.2 million at the end of June, up from GBP349.9 million six months earlier and from GBP319.6 million at the same stage last year. Its portfolio, which consisted of interests in 96 companies at the end of June, benefitted from a net unrealised fair value gain of GBP73.7 million.
"The group has had an extremely active and successful first half with a number of our portfolio companies having made significant advances," Chief Executive Alan Aubrey said in a statement.
Aubrey said he was proud to have been a cornerstone investor in Oxford Sciences Innovation PLC, a company established to provide capital to, and develop, spin-out companies based on research from the University of Oxford's Mathematical, Physical and Life Sciences Division and its Medical Sciences Division.
The chief executive also pointed to Modern Biosciences PLC's research and development and global option licence agreement with Janssen Biotech Inc, part of Johnson & Johnson, as evidence of the activity of its portfolio companies.
"The group is also making solid progress in the US and has now formed its first spin-out company from each of the three universities we are working with there," Aubrey said.
Shares in IP were up 0.8% to 211.1 pence on Wednesday morning.
By Samuel Agini; [email protected]; @samuelagini
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