IP Group PLC Portfolio company ApcinteX acquired by Centessa
17 February 2021 - 6:00PM
RNS Non-Regulatory
TIDMIPO
IP Group PLC
17 February 2021
FOR RELEASE ON 17 February 2021
IP Group plc - Portfolio company ApcinteX acquired by Centessa
Pharmaceuticals
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the
developer of intellectual property-based businesses, notes the
announcement from Centessa Pharmaceuticals ("Centessa") that it has
launched with a $250 million financing round after having acquired
a number of assets including IP Group portfolio company ApcinteX
Ltd ("ApcinteX").
Following these transactions, IP Group's resulting minority
stake in Centessa is valued at GBP19.0 million, representing a fair
value gain of GBP11.0 million from the holding value of ApcinteX at
30 June 2020. ApcinteX is developing SerpinPC, a specific inhibitor
of the anticoagulant protease activated protein C (APC), for the
treatment for hemophilia A and hemophilia B, with or without
inhibitors.
Centessa has been founded by Medicxi and raised $250 million in
an oversubscribed Series A financing led by General Atlantic and
co-led by Vida Ventures and Janus Henderson Investors. Additional
blue-chip investors participated in the financing, including Boxer
Capital, Cormorant Asset Management, T. Rowe Price Associates,
Inc., Venrock Healthcare Capital Partners, Wellington Management
Company, BVF Partners L.P., EcoR1 Capital, Franklin Templeton,
Logos Capital, Samsara BioCapital, LifeSci Venture Partners and an
undisclosed U.S.-based, healthcare-focused fund.
In conjunction with the launch, Centessa completed the merger of
ten private biotech companies, including ApcinteX, that will each
continue to develop its assets with oversight from the Centessa
management team.
Centessa noted that its asset-centric model is intended to
advance a portfolio of highly validated programs, having assembled
"best-in-class or first-in-class assets, each of which is led by
specialized teams committed to accelerate development and reshape
the traditional drug development process".
For more information, please contact:
IP Group plc www.ipgroupplc.com
Greg Smith, Chief Financial Officer +44 (0) 20 7444 0050
Liz Vaughan-Adams, Communications +44 (0) 20 7444 0062/+44 (0)
7979 853802
liz.vadams@ipgroupplc.com
Charlotte Street Partners
David Gaffney +44 (0) 7854 609998
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
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
early-stage to mature businesses across life sciences and
technology. IP Group is listed on the Main Market of the London
Stock Exchange under the code IPO. Group holdings in portfolio
companies reflect the undiluted beneficial equity interest
excluding debt, unless otherwise explicitly stated. For more
information, please visit our website at www.ipgroupplc.com .
ENDS
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