15th Sep 2026 12:22
(Alliance News) - IP Group PLC on Tuesday reported increased net asset value amid a "supportive" investment climate, and said it commences its second half with "growing momentum".
Shares in IP Group were 4.4% higher at 68.60 pence on Tuesday afternoon in London.
The London-headquartered investor in the science and technology sectors reported an NAV per share of 113.9 pence at June 30, up 18% from 96.2p one year prior. The total NAV grew to GBP1.01 billion from GBP883.1 million.
IP Group said this "continued NAV growth" was "driven by strong progress on Pfizer's obesity programme," and by "disciplined execution against strategic priorities". It noted the GBP27 million valuation uplift for the Pfizer Obesity Royalty Income asset, to GBP152 million, with operational progress from Pfizer including "further positive clinical data" for berobenatide, which showed "competitive weight-loss efficacy versus approved therapies".
IP Group's profit for the first half of 2026 was GBP31.2 million, against a GBP43.0 million loss the previous year.
It said cash proceeds from exits totalled GBP68.7 million, surpassing the GBP68.1 million achieved for 2025, and on track against its GBP250 million target for 2025 to 2027. Portfolio companies raised GBP543 million in the first half, up from GBP372 million the year before.
"The first half of 2026 has been another period of disciplined execution with the group delivering further NAV growth, generating more cash proceeds in six months than in the whole of 2025 and continuing to broaden our third-party capital platform," commented Chief Executive Greg Smith. "With significant progress across our portfolio, IP Group enters the second half of the year with growing momentum."
He continued: "Looking ahead, we see a substantial pipeline of potential value-driving milestones across our HealthTech, DeepTech and CleanTech portfolios.
"Combined with our deep university relationships, sector expertise and strong financial position, we believe IP Group is uniquely placed to create, build and scale the next generation of innovation-led companies and deliver attractive long-term returns for shareholders."
By Emma Curzon, Alliance News reporter
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