IP Group sees portfolio value rise
IP Group, which invests in a series of Yorkshire medical technology firms, has seen a £4.3m fair value increase in its portfolio since the end of June.
The portfolio is now valued at £107.2m with realisations for the year to date standing at £2.6m in the wake of the sale of its stake in Leeds-based COE Group which was taken over by Digital Barriers.
IP Group has cash holdings of £22m and assets worth £171m after investing £3.5m across £17m since the start of July.
Chief executive Alan Aubrey said: “It has been particularly encouraging to note further significant developments in the commercial and technical progress of the Group’s portfolio businesses in the third quarter.
“The announcement of product launches and partnerships with major global companies serves to highlight the significant potential value in these companies’ technologies.”
IP Group has stakes in a range of medical science ventures including Tissue Regenix which recently received the approval from European regulators for its blood vessel patch made from pig tissue.
It also has interests in Avacta, which yesterday announced a doubling in revenue, and Syntopix which develops topical animicrobials for the medical and consumer healthcare markets.
