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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July 21, 2017 08:00 ET (12:00 GMT)

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