Intellectual property commercialisation specialist IP Group boasts a ‘promising pipeline of spin-out opportunities’ after losing a first-half £4.9 million.
Intellectual property commercialisation specialist IP Group boasts a ‘promising pipeline of spin-out opportunities’ after losing a first-half £4.9 million.
The fully listed company’s net assets at the end of June were £169.5 million, against £229.8 million a year earlier and £173.8 million at the end of December, with cash down year-on-year by £9 million to £30.6 million. Chief executive Alan Aubrey says IP’s portfolio of companies continued to make ‘good progress’ in the first six months, highlighting a £12 million investment in fast gene sequencer Oxford Nanopore by NASDAQ-quoted Illumina and a £50 million AIM placing at 140p by Proximagen Neuroscience.
The financing environment has remained ‘challenging’, but, says Aubrey, that has not stopped IP’s ‘maturing portfolio of companies’ from attracting investment from and collaborations with industry partners. The pipeline of spin-out opportunities comes from the research institutions which partner the company.
