11th May 2005 07:01
IP2IPO Group PLC11 May 2005 For immediate release 11 May 2005 IP2IPO GROUP PLC ("IP2IPO" or "the Company") IP2IPO is pleased to announce the launch of a placing of up to 2,157,837 newordinary shares of 10 pence each (the "Placing Shares") for cash withinstitutional investors, representing a maximum of 5 per cent. of the currentissued share capital of the Company (the "Placing"). Further details of thePlacing will be announced in due course. The proceeds of the Placing will be used to launch a new business within IP2IPO:LifeUK. LifeUK will in-license life science intellectual property created bymedical researchers at universities with which IP2IPO already has partnerships,other universities in the UK and similar academic and charitable researchinstitutions. LifeUK's objective is to further develop the intellectual propertywhich it in-licenses with a view to creating substantial value either bysubsequently licensing these development programmes to the pharmaceuticalindustry or via the creation of new ventures. The Placing Shares are being placed by Lehman Brothers International (Europe),as sole bookrunner, and KBC Peel Hunt Ltd, as joint lead manager, and are beingplaced conditional on admission to trading on the AIM Market of the London StockExchange plc ("Admission"). Application has been made for Admission of thePlacing Shares and it is expected that Admission will become effective anddealings in the Placing Shares will commence on 16 May 2005. The Placing Sharesto be allotted will be credited as fully paid and will rank pari passu in allrespects with the Company's existing ordinary shares of 10p each, including theright to receive all dividends and distributions declared, made or paid on orafter the date of their allotment. David Norwood, Chief Executive Officer commented, "The launch of LifeUKrepresents a significant strategic move for IP2IPO and considerably strengthensand diversifies our business. In the academic arena, UK academics produceground-breaking medical research, while within industry, pharmaceuticalcompanies are increasingly looking for new sources of drug candidates to augmenttheir pipelines. LifeUK has been created to provide a channel from the lab benchto industry which builds on the success that IP2IPO has already experiencedcreating spin out companies under its long term university partnerships." Lehman Brothers International (Europe) and KBC Peel Hunt Ltd are each actingexclusively for IP2IPO and are not acting on behalf of any other person and willnot be responsible to any person, other than IP2IPO, for providing theprotections afforded to their respective clients or for advising any such personin connection with the Placing. For more information please contact: IP2IPODavid Norwood, Chief Executive Officer 020 7489 5200 Buchanan CommunicationsTim Anderson, Mark Court 020 7466 5000 Lehman Brothers International (Europe)Stephen Pull, Mark Hutt 020 7102 1000 KBC Peel Hunt LtdSimon Hayes, Megan MacIntyre 020 7418 8900 Notes for editors IP2IPO is an intellectual property (IP) company that specialises incommercialising university technology. The Company was founded in 2001 andlisted on the AIM Market of the London Stock Exchange plc in October 2003.IP2IPO's first partnership was with the University of Oxford. In return for aninvestment of £20 million, IP2IPO has acquired 50 per cent of the University ofOxford's equity in spin-out companies and technology licenses based onintellectual property created at the Chemistry Department until 2015. InNovember 2003, IP2IPO created a £5 million seed capital fund for investing inspin-out companies across the University of Oxford, not just those originatingwithin the Chemistry Department. In March 2002, IP2IPO entered into a second long-term partnership with theUniversity of Southampton. Under the terms of this partnership, IP2IPO iscommitted to working with the University of Southampton in the identificationand facilitation of spin-out companies from across the University of Southamptonand to investing £5 million in early-stage University of Southampton spin-outcompanies over a four year period in return for equity stakes in thosecompanies. In addition, IP2IPO also received a 20 per cent stake in SouthamptonAsset Management Limited, a company that has been formed to hold theUniversity's equity stakes in its spin-out companies. The partnership has a termof at least 25 years. IP2IPO entered into its third long-term partnership in May 2003 with King'sCollege London. IP2IPO will work with King's College London to help identify andprogress commercialisation opportunities as well as invest £5 million in seedcapital in spin-out companies from King's College London over a five year periodin return for equity stakes in those companies. In addition, IP2IPO will receive20 per cent of King's College London's equity in spin-out companies andtechnology licenses. The partnership has a term of 25 years. In October 2003, IP2IPO announced a fourth partnership with the Centre for NovelAgricultural Products ("CNAP"), based at the University of York. CNAP is aflagship research centre that specialises in plant and microbial gene discovery.Under the terms of the partnership a new company, Amaethon Limited, has beencreated which has the right to commercialise CNAP's IP for 25 years. IP2IPO hasinvested £1.15m in Amaethon Limited in return for a 40% equity stake in AmaethonLimited (the remaining equity being owned by the University of York) and willalso invest in the spin-out companies based on CNAP's IP which Amaethon Limitedcreates. In June 2004, IP2IPO acquired Top Technology Ventures Limited, an investmentadviser to early stage technology funds. This combines IP2IPO's expertise in thecreation of new ventures based on world leading university IP with TopTechnology's focus on making early stage venture capital investments. In January 2005, IP2IPO acquired Techtran, a company set up in 2002 tocommercialise university intellectual property under a long-term technologycommercialisation contract with the University of Leeds. Under the terms of thecontract Techtran receives a significant (30%) interest in spin-out companiescreated and technology licences negotiated, in return for the provision oftechnology transfer services to the University. To date, 4 spin-out companies from the IP2IPO portfolio have listed on the AIMMarket of the London Stock Exchange plc: Offshore Hydrocarbon Mapping plc,Synairgen plc, VASTox plc and Proximagen Neuroscience plc. For more information please visit www.ip2ipo.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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