IP Group playing key role in bringing innovations to market

IP Group enjoyed a strong year in 2012, boosted by a string of investments.

The research commercialisation group, whose portfolio includes a stake in University of Sheffield spin-out business Magnomatics and interests in Avacta and Xeros, saw the value of its investment portfolio increase by more than £50m to £181.8m.

IP Group posted an adjusted profit before tax of £46.7m, compared to £500,000 in 2011.
 
Alan Aubrey, chief executive of IP Group, said: “2012 has been another strong year for IP Group, marked by a number of significant developments across our portfolio, including the admission of Retroscreen Virology and Revolymer to AIM and a significant further financing by Oxford Nanopore Technologies.

“In line with our commitment to significantly increase our overall rate of investment, the group committed £26.3m of new funds to portfolio companies during the year.

“At the same time, we continue to explore alternative sources of innovative intellectual property based opportunities. To this end we have recently signed a commercialisation agreement with Manchester University.”

Mr Aubrey added: “The progress made across our portfolio during 2012, reflected in the strong growth in the value of the group’s portfolio and net assets, has reinforced our confidence in the quality and commercial potential of the UK’s university intellectual property, and we remain well positioned to play a central role in ensuring that the UK’s cutting-edge innovations continue to reach the market.”

IP Group has cash resources of £47.9m.