TIDMIPO
RNS Number : 3898R
IP Group PLC
09 December 2016
FOR RELEASE ON 9 December 2016
IP Group plc - Portfolio company Oxford Sciences Innovation
announces GBP230m fundraising
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the
developer of intellectual property-based businesses, is pleased to
note that its portfolio company, Oxford Sciences Innovation plc
("OSI" or "the Company"), has raised GBP230 million in a new
financing round via a private placement of ordinary shares.
OSI provides capital and scaling expertise to businesses driven
by intellectual property developed at the University of Oxford. Its
mission is to build on the University's position as one of the
world's leading research institutions, and further to enhance its
track record for developing globally successful businesses.
Following completion of the financing round, IP Group's
undiluted beneficial stake of 8.1% in OSI will be valued at GBP55.5
million, representing an unrealised fair value gain to the Group of
GBP8 million. IP Group has committed a further GBP7.5 million to
OSI as part of this funding round.
The investment round included both new and existing investors
including some of Asia's leading technology companies and sovereign
wealth funds, as well as European industrialists. Major corporate
investors in OSI include Invesco Asset Management Limited, IP Group
plc, Lansdowne Partners (UK) LLP, Oxford University Endowment
Management, the Wellcome Trust and Woodford Investment Management
LLP. Its individual investors include the entrepreneur Sir Charles
Dunstone and artificial intelligence pioneer Demis Hassabis of
Google Deep Mind.
OSI's capital base previously stood at GBP350m but, following
the round, is now close to GBP600m.
The information contained within this announcement constitutes
inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014.
The full announcement follows.
For more information, please contact:
IP Group plc www.ipgroupplc.com
Alan Aubrey, Chief Executive
Officer +44 (0) 20 7444 0050
Greg Smith, Chief Financial
Officer +44 (0) 20 7444 0062/+44
Liz Vaughan-Adams, Communications (0) 7979 853802
Charlotte Street Partners
Andrew Wilson +44 (0) 7810 636995
Notes for editors
About IP Group
IP Group is a leading intellectual property commercialisation
company which focuses on evolving great ideas, mainly from its
partner universities, into world-changing businesses. The Group has
pioneered a unique approach to developing these ideas and the
resulting businesses by providing access to business building
expertise, capital (through its 100%-owned FCA-authorised
subsidiary IP Capital), networks, recruitment and business support.
IP Group has a strong track record of success and its portfolio
comprises holdings in approximately 80 early-stage to mature
businesses across four main sectors -- Biotech, Cleantech,
Healthcare and Technology. The Company is listed on the Main Market
of the London Stock Exchange under the code IPO.
For more information, please visit our website at
www.ipgroupplc.com.
ENDS
FRESH WAVE OF GLOBAL INVESTORS BACK OXFORD IDEAS AND BRITAIN'S
TECHNOLOGY FUTURE
Oxford University on behalf of Oxford Sciences Innovation (OSI)
today (Friday December 9 2016) announces a substantial increase of
capital raised worldwide to scale innovative ideas from the
University of Oxford into world class companies. OSI's capital base
stood previously at GBP350m, but a fresh injection of capital will
now boost this to almost GBP600m. Some of Asia's leading technology
companies and sovereign wealth funds, as well as European
industrialists, are among the wave of new investors.
OSI provides capital and scaling expertise to businesses driven
by intellectual property developed at the University of Oxford. The
company's mission is to build on the University's position as one
of the world's leading research institutions, and further to
enhance its track record for developing globally successful
businesses.
Major corporate investors in OSI include Invesco Asset
Management Limited, IP Group plc, Lansdowne Partners (UK) LLP,
Oxford University Endowment Management, the Wellcome Trust and
Woodford Investment Management LLP. Its individual investors
include the entrepreneur Sir Charles Dunstone, and artificial
intelligence pioneer Demis Hassabis of Google Deep Mind.
Vice-Chancellor of The University of Oxford, Professor Louise
Richardson: "We have long operated in a global marketplace, for
students, academics and research funding, and know that we have to
become altogether more creative in generating new sources of
revenue.
This is an extraordinary global vote of confidence in the
quality and potential of the research conducted at Oxford. This
initiative will bring benefits to the university, to the
researchers, to the investors, and to society at large.
We are a cosmopolitan community of students and scholars. We
welcomed our first international student in the twelfth century so
it is part of our DNA. It should be no surprise, therefore, that we
have attracted investment from all over the world."
Chair of OSI, Peter Davies: "Raising this capital reflects our
confidence in the breadth and quality of opportunity available to
investors in helping the University of Oxford develop a world-class
commercial ecosystem around its unmatched intellectual capital and
heritage. We are also very excited to be working with new
shareholders from across the world, notably from Asia and
Continental Europe, and grateful to our original supporters, the
ten largest of which have participated in this funding round."
Minister of State for Universities, Science, Research and
Innovation Jo Johnson: "This funding is a further vote of
confidence in Britain's world-class research sector and will
provide a real boost to local businesses as they develop new
technologies.
"We want to maintain the UK's position as a world leader in
research, which is exactly why our upcoming industrial strategy
will place science and innovation at its core, helping businesses
across this burgeoning sector thrive."
The formation of OSI in 2015 represented a determined attempt to
overturn a trend acknowledged recently by the United Kingdom Prime
Minister Theresa May. In her latest speech to the Confederation of
British Industry, Mrs May expressed concern at the UK's
long-standing failure to turn research into money-making ventures.
The PM noted that Britain has more Nobel Laureates than any country
outside the United States, but all too often great ideas developed
here end up being commercialised elsewhere.
-ends-
NOTES TO EDITORS
1. The formation of OSI was announced on 14th May 2015.
2. Oxford University academics have won a total of 32 Nobel
prizes across Chemistry, Physics and Medicine. The University's
Division of Medical Sciences has been the world's highest ranked
for six years in succession, and this year The University of Oxford
was declared number one in the world by Times Higher Education
World University Rankings.
3. The University of Oxford has a long track-record of
developing global science and technology businesses and has
established more than 100 spinout companies based on technology
developed by University of Oxford researchers since 2000. On
average a company has been established every two months since 2005.
Spinouts valued in excess of GBP200m include Oxford Nanopore
Technologies Limited and NaturalMotion. Others include AIM and
Nasdaq listed companies such as Velocys and Oxford Immunotec.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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