Ip Share Discussion Threads

[davr0s] 18/8/2015 19:37

Slow grind up (grind being the operative word)!

[broadwood] 06/8/2015 08:26

IP Group (LON:IPO) – Buy

Yesterday, IP Group announced its half-yearly results for the six months ended 30th June 2015. During the six months, the company’s net tangible assets and the Oxford equity rights asset increased to £700.6m from £449.4m a year ago. Adjusted pre-tax profits, excluding amortization and reduction in fair value, improved to £70.1m from £15.0m in H1 2014. During the period, the company raised £178.8m net, through the issue of new equity capital and had net cash and deposits of £219.6m as of 30th June 2015. In addition, the company acquired a strategic holding in Oxford Sciences Innovation and Modern Biosciences reached the first development-related milestone. The company has now formed spin-out companies from each of the three universities with which it has a pilot commercialisation agreement in the US. On the portfolio front, the fair value of the portfolio stood at £478.2m with capital provided portfolio companies and projects amounting to £55.1m. Portfolio companies Oxford Nanopore Technologies launched PromethION Early Access Programme whereas Diurnal Limited made progress with its treatment of chronic endocrine diseases. Tissue Regenix Group and Actual Experience completed funding rounds of £20m and £15.2m, respectively. Post period; the company secured a £30m, 8-year debt facility from the European Investment Bank.

Our view: IP Group had an extremely successful first half with quite a few of its portfolio companies making significant advances. The company has till date backed nearly 20 spin-out companies from the University Of Oxford that enjoys an impressive track record in innovation and entrepreneurship. The Group is also making solid progress in the US after forming its first spin-out company from each of the three universities that it is working with. IP Group’s balance sheet was considerably strengthened with over £200m of available capital while the company overall remains well placed to continue its strategy of supporting compelling opportunities both in the UK and the US. Thus in view of the above results and the overall progress made by IP Group through its portfolio companies, we reiterate a Buy on the stock

[davr0s] 05/8/2015 07:09

These results look surprisingly good but I can't locate any forecast/expectations ( I hold a medium sized position in this share). Anyone have a handle on this?

[soupdragon55] 30/7/2015 08:24

New non-exec with an exceptionally strong background and good connections.

[broadwood] 21/7/2015 17:30

Sweet.

IP Group plc - Portfolio company Oxford Nanopore announces GBP70m 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 Nanopore Technologies Limited ("Oxford Nanopore" or "the Company"), has raised GBP70.0 million in a new financing round via a private placement of ordinary shares.
Oxford Nanopore, a spin-out company from the University of Oxford specialising in nanopore-based electronic molecular analysis systems, recently commented that its handheld MinION device is commercially available and registration has opened for its PromethION Early Access Programme (PEAP). PromethION is a standalone device, which offers the nanopore sensing technology of MinION but enables higher throughput and sample numbers.
Both new and existing investors in the UK, US and mainland Europe subscribed to the fundraising to support the Company's development and commercialisation of electronic molecular analysis systems. Funds will be used to support improvements to Oxford Nanopore's existing range of products and services and to further develop and expand the Company's innovative pipeline. Manufacturing and commercial activities will be expanded.
Following completion of the financing round, IP Group's undiluted beneficial stake of 19.9% in Oxford Nanopore will be valued at GBP192.9 million, representing an unrealised fair value gain to the Group of GBP50.3 million. IP Group has committed a further GBP13.9 million to Oxford Nanopore as part of this funding round.
This transaction brings the total funds raised by Oxford Nanopore since its formation in 2005 to
GBP251.0 million.
Alan Aubrey, Chief Executive of IP Group, said: "IP Group has been proud to support Oxford Nanopore since the Company's formation ten years ago. The Company has made excellent technical and commercial progress and the significant developments announced at its recent London Calling nanopore-sensing conference further reinforce our confidence in the Company's technology. I would like to congratulate the Oxford Nanopore team for all of their successes so far and we look forward to working with them as they seek to achieve their goal of making nanopore-sensing valuable, integral and available to anyone with a question about a living thing

[p1nkfish] 15/7/2015 07:54

another move down likely imho.

we know some of the money will be going into AVCT or see dilution.

[investorneil1] 09/7/2015 09:41

One assumes they have some big plans. Long term winner; one to put in the ISA and forget about for a few years and then reap the rewards. Nice long term uptrend. I understand the Naked Trader is a big fan and buyer too and he isn't often wrong!

[bamboo2] 09/7/2015 08:59

Hi pink, More cash in the bank!

Given that the majority of the proceeds from the recent fundraising are presumably still on deposit, why?


RNS FOR RELEASE ON 9 July 2015


IP Group plc - Secures GBP30m, 8-year debt facility from European Investment Bank

Additional long-term capital to support work with leading UK universities to commercialise outstanding IP

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, is pleased to announce that it has secured a GBP30m, 8-year debt facility from the European Investment Bank ("the EIB"). The facility will be disbursed in two tranches and the Group intends to draw down the first tranche shortly.

The facility provides IP Group with an additional source of long-term capital and represents an evolution in the Group's capital structure to support its future growth and development. IP Group will use the proceeds to continue to fund UK university spin-out companies as they develop and mature.

In order to secure this funding, the Group had to fulfil a number of criteria set by the EIB which included being financially and technically sound as well as having a strong governance structure and an ethical approach to evaluating spin-out opportunities. The Group already works in partnership with the European Investment Fund, which is part of the EIB Group and a significant limited partner investor in IP Group's managed funds, IP Venture Fund and IP Venture Fund II LP.

Alan Aubrey, Chief Executive of IP Group, said: "The EIB regards growth and jobs in the EU as top priorities and recognises the important role that the development of innovation and skills plays in achieving these objectives. This facility is a clear indication of the EIB's support for the Group's activities in working with leading UK universities to commercialise the outstanding intellectual property that emanates from their scientific research across all our sectors."

Jonathan Taylor, Vice President of the European Investment Bank, said: "IP Group has an impressive track record of enabling innovative ideas to be transformed into world-leading companies. The European Investment Bank recognises the essential need to invest in innovation across Europe and we are pleased to work with IP Group to unlock the potential of spin-out companies from UK universities to turn the latest ideas into commercial success."

[p1nkfish] 08/7/2015 08:45

It does look like it.
If it breaks £2 on decent volume looks like moving towards 180p.

[bamboo2] 07/7/2015 21:43

Possible new Head and Shoulder Pattern confirmed today. [Chart from yesterday]

[investorneil1] 23/6/2015 17:37

Keep the faith. IPO is one of those shares which does nothing for a good while then jumps a lot higher all of a sudden. Good stong long term uptrend in the chart too. Lovely one to tuck away for the long term and add on weakness.

[pka3] 22/6/2015 12:47

Despite the latest RNS the share price is disappointingly heading south !!

[bamboo2] 21/6/2015 18:04

Interesting to see Google Ventures here. They have a large amount of capital for European based investments.

Charles Dunstone, of Talktalk also airing his wad.


19 June 2015


IP Group plc - OSI plc closes funding of GBP320m partnership

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, is pleased to note that Oxford Sciences Innovation plc ("OSI") has completed the second close of its fundraising, raising an additional GBP110m and bringing the total amount raised to GBP320m. Investors in the second close included Google Ventures and Charles Dunstone.

As announced on 14 May 2015, IP Group committed GBP40m of funding in the initial round along with other investors including Invesco Asset Management Limited, Lansdowne Partners (UK) LLP, Oxford University Endowment Fund, the Wellcome Trust and Woodford Investment Management LLP. Following completion of the financing, IP Group will have an undiluted beneficial equity stake of 11.8% in OSI.

Alan Aubrey, Chief Executive of IP Group and Non-executive Director of OSI, said: "IP Group is proud to be a cornerstone investor in OSI and we are delighted by the quality and range of investors who have participated in both financing rounds. The support that the partnership has received is excellent news for everyone involved and we are excited by OSI's future prospects."

The full text of the announcement issued by OSI is set out below.

For more information, please contact:


IP Group plc www.ipgroupplc.com
Alan Aubrey, Chief Executive
Officer
Greg Smith, Chief Financial
Officer
Vicki Bradley, Communications [phone]
FTI Consulting
James Melville-Ross/Simon
Conway/
Victoria Foster Mitchell [phone]


Notes for editors

About IP Group

IP Group is a leading UK intellectual property commercialisation company, developing technology innovations primarily from its research intensive partner universities. The Group offers more than traditional venture capital, providing its companies with access to business building expertise, networks, recruitment and business support.

IP Group's portfolio comprises holdings in around 90 early-stage to mature businesses across the Healthcare, Biotech, Cleantech and Technology sectors. These businesses include Oxford Nanopore Technologies, the DNA sequencing development company, Revolymer, best known for its removable chewing gum, and Xeros, which has received many accolades for its revolutionary clothes washing techniques with a much reduced requirement for water.

For more information, please visit our website at www.ipgroupplc.com.

OXFORD SCIENCES INNOVATION PLC

Demis Hassabis, Tom Hulme, and Dr. Krishna Yeshwant join Advisory Board of Oxford Sciences Innovation as it closes the funding of its landmark GBP320m partnership

- Investment from Google Ventures and Charles Dunstone help to complete the funding of the GBP320m partnership first announced on 14th May, 2015

- Demis Hassabis (DeepMind), Tom Hulme and Dr. Krishna Yeshwant (Google Ventures General Partners) and Charles Dunstone join the Advisory Board of OSI as it aims to develop the University's world-leading scientific research and work with its academics to commercialise their ideas into market-leading companies.

19 June 2015: A month after the University of Oxford and Isis Innovation launched a new partnership with Oxford Sciences Innovation plc (OSI), the funding has been fully secured. Aiming to become a market leader in scientific innovation and entrepreneurship, the joint venture has also welcomed Demis Hassabis of DeepMind, and Tom Hulme and Dr. Krishna Yeshwant of Google Ventures to its Advisory Board.

Other investors in the GBP320m OSI partnership include Invesco Asset Management Limited, IP Group plc, Lansdowne Partners (UK) LLP, Oxford University Endowment Fund, the Wellcome Trust, Woodford Investment Management LLP and Charles Dunstone.

OSI has been contractually established as the University's preferred partner for the provision of capital for spinout companies based on research from the Mathematical, Physical, Life Sciences and Medical Sciences divisions. This will include establishing new IP-driven businesses together with Isis Innovation and providing investment capital, as well as advice in order to create commercial success.

David Norwood, Chairman of OSI, said:

"We are building a very special and unique partnership at OSI. We are now in a position to combine Oxford University's proud history, with cornerstone investors and Board-level advice from some of the best minds in the tech industry to turn world-leading science into market-leading companies."

Demis Hassabis, Founder of DeepMind, said:

"OSI combines world-class research with world-class business minds. It is going to be very exciting to see the great companies that will undoubtedly come out of this partnership."

Tom Hulme, General Partner of Google Ventures, said:

'Google Ventures' investment in OSI represents our faith in Oxford University's ability to develop the next generation of scientific breakthroughs, and OSI's drive to turn those breakthroughs into successful commercial enterprises.'

For more information, please contact:

Oxford Sciences Innovation plc

Ben Novick, Milltown Partners LLP

[e-mail]

[phone]

NOTES TO EDITORS

1. The formation of OSI was announced on 14th May 2015.

2. In order to fund the next generation of spinout companies from the University, OSI announced it would raise an initial GBP300m. Due to its popularity with investors the partnership has managed to exceed its initial target and raised a total of GBP320m.

3. Investors in the GBP320m partnership include Google Ventures, Charles Dunstone, Invesco Asset Management Limited, IP Group plc, Lansdowne Partners (UK) LLP, Oxford University Endowment Fund, the Wellcome Trust and Woodford Investment Management LLP.

4. OSI will be chaired by David Norwood, Founder of IP Group. He will be joined on the board by Deputy Chairman Alex Snow (Lansdowne Partners LLP). OSI will be supported by an Advisory Board made up of experts with backgrounds in science, technology, finance, industry and academia. The Advisory Board will include Demis Hassabis (Founder of DeepMind, acquired by Google in 2014), Dr. Krishna Yeshwant and Tom Hulme of Google Ventures as well as Charles Dunstone and Peter Davies (Senior Partner at Lansdowne Partners UK LLP)

5. Oxford University staff have won a total of 32 Nobel prizes across Chemistry, Physics and Medicine.

6. The University also has a long track-record of developing global science and technology businesses through Isis Innovation. Isis has established over 100 spinout companies based on technology developed by University of Oxford researchers since 2000, including eight in the last year. 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.

ENDS

[bamboo2] 21/5/2015 19:49

Think holdings rns possibly means Lansdown are recognising their dilution from the recent placing.

The earlier rns refers to the disposal of some of the TRX stock.

IP Venture Fund formerly held 3.26%, now 1.03%

This disposal will give them something to discuss in the next update.

[philo124] 20/5/2015 17:44

Numis, 358p TP.

[p1nkfish] 15/5/2015 14:17

Yes, a risk. I look at IPO as an IT with specialisation in UK innovation and don't trade it. Lucky enough to be well in the money and wil park here. Some of their holdings will fail. A few look like gems and IPO help de-risk with a good spread.

Picking any of the indivisual holdings as a PI is very risky - found oout the hard way.

[bamboo2] 15/5/2015 11:25

Hi p1nk, You are obviously planning a lot further ahead than me, which is probably the correct thing to be doing with this kind of share.

I was really only in for a relatively short term trade. My concern is that some of the bigger players can unload existing holdings into any share price strength, while replacing these with the cheap shares obtained yesterday.

[p1nkfish] 15/5/2015 11:20

I added 5% to my holding to compensate for dilution. My average is relative low anyway and I took some of the 224 placings too.

It will take a few years for the value to out but the future of the UK is in these new industries and companies. We need them and the Gov will encourage them as they are our industrial/business renaissance. They fail, the UK fails too.

[bamboo2] 15/5/2015 09:03

Sold at b/e. Feeling uncertain. This new placing has clouded my former view. Will be back.

[bamboo2] 14/5/2015 20:49

p1nk, yes a good average down for them and pronto!

I suppose it's best out of the way for all concerned.

[p1nkfish] 14/5/2015 17:26

well, well.
they had it sorted pronto, decent average down for them.

[bamboo2] 14/5/2015 16:08

"...it won't take a minute to sort this..." ;-|


14 May 2015

IP Group plc

("IP Group" or the "Company")

Results of Placing

IP Group, the developer of intellectual property-based businesses, is pleased to announce the successful completion of the placing announced earlier today (the "Placing").

A total of 26,500,000 new ordinary shares in the Company (the "Placing Shares") have been placed by Numis Securities Limited ("Numis") at a price of 208 pence per Placing Share with strong demand being received from both new and existing institutional investors, raising total gross proceeds of approximately GBP55.1m. The total expenses directly relevant to the Placing are estimated to be 2.3 per cent. of the gross proceeds. The placing price of 208 pence per Placing Share represents a discount of 1.0 per cent. to the price at 12.00 p.m. (being the time the placing price was agreed).

The Placing Shares will upon issue represent approximately 4.9 per cent. of IP Group's existing issued ordinary share capital prior to the Placing.

The Placing Shares, when issued, will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of two pence each in the capital of the Company, including the right to receive all dividends and other distributions declared, made or paid on or in respect of such shares after the date of issue.

Applications have been made for admission of the Placing Shares to the premium listing segment of the Official List of the Financial Conduct Authority (the "Official List") and to trading on the main market of the London Stock Exchange plc (together, "Admission"). It is expected that settlement for the Placing Shares and Admission will take place at 8.00 a.m. on 19 May 2015. Settlement of the Placing is conditional upon, amongst other things, Admission becoming effective and upon the Placing Agreement not being terminated in accordance with its terms.

Following Admission the total number of shares in issue in the Company will be 564,465,429.

Smaller related party transactions

Invesco Asset Management Limited ("Invesco"), which currently holds 25.3 per cent. of the Company's outstanding share capital, has committed to subscribe for 6,620,000 Placing Shares. Woodford Investment Management LLP ("Woodford"), which currently holds 10.2 per cent. of the Company's outstanding share capital, has committed to subscribe for 5,200,000 Placing Shares. The subscription for the aforementioned Placing Shares by each of Invesco and Woodford, each of which is a substantial shareholder of the Company under Chapter 11 of the Listing Rules, constitutes a related party transaction under Listing Rule 11.1.10.

[bamboo2] 14/5/2015 13:25

Hi p1nk, thanks for the reply.

You could well be correct about II's looking after each other! It doesn't look very hard nosed of management though, if that turns out to be the case.

I would guess that this new placing will be priced at a discount to the prevailing share price just before the placing price is announced, so anticipate/hope for an uplift in share price

The previous capital raise was to fund growth in the US, otherwise I would wonder why they didn't use that to fund the new business.

Most of that £125m must still be in the bank.

[p1nkfish] 14/5/2015 10:30

5% less than the last offer perhaps?
That would be about 213p. Say 210p - 215p.

[p1nkfish] 14/5/2015 10:29

no idea what they might do for the placing price.
would not be surprised to see it lower than the last recent offering.
notice this one os not an open offer, institutional, and they all look adter each other over taking care of the "plebs".