IP Group PLC Portfolio company TissueRegenix £40m fundraising
21 July 2017 - 10:00PM
RNS Non-Regulatory
TIDMIPO
IP Group PLC
21 July 2017
FOR RELEASE ON 21 July 2017
IP Group plc - Portfolio company Tissue Regenix announces GBP40m
fundraising and acquisition of CellRight Technologies
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the
developer of intellectual property-based businesses, is pleased to
note that portfolio company Tissue Regenix Group plc ("Tissue
Regenix" or "the Company"), has announced it has raised GBP40
million through a Placing and Subscription of new ordinary shares
as well as the acquisition of CellRight Technologies.
Tissue Regenix, a regenerative medical devices company based on
science from the University of Leeds, intends to use the proceeds
to finance the initial consideration for the acquisition, to
accelerate growth and to provide working capital to support the
on-going commercialisation of its existing programmes.
IP Group has agreed to a total subscription of GBP5.0 million as
part of the Placing and, following completion, will hold a total of
153,042,836 shares in Tissue Regenix, or 13.2% of the Company's
enlarged share capital. The Placing is conditional upon shareholder
approval at the Company's General Meeting, scheduled for 8 August
2017.
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
Martha Walsh +44 (0) 7876 245962
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
subsidiaries IP Capital and Parkwalk Advisors), networks,
recruitment and business support. IP Group has a strong track
record of success and its portfolio comprises holdings in
approximately 100 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
This information is provided by RNS
The company news service from the London Stock Exchange
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