LONDON – IP Group plc (LSE: IPO), an investor in innovative science and technology companies, has announced that two of its life sciences portfolio companies have received cash offers, which are expected to yield significant proceeds for the group. Intelligent Ultrasound Group plc, with IP Group holding a 20.8% interest, has been valued at approximately £45.2 million following a cash offer from Surgical Science Sweden AB. This transaction is anticipated to result in IP Group receiving around £8.8 million, doubling the value from its last reported net asset value (NAV) as of June 30, 2024.
Similarly, Abliva AB, in which IP Group has a 9.5% stake, received a buyout offer from Pharming Technologies BV, valuing Abliva at roughly SEK 725.3 million (equivalent to £52.4 million). This deal is expected to provide IP Group with £5 million, representing an uplift in carrying value of £3.7 million or 284% since the last NAV report.
Completion of both deals is contingent upon customary conditions and shareholder approval. The company plans to allocate approximately 20% of the proceeds from these sales to enhance its share buyback program in 2025, adhering to its capital allocation policy.
Greg Smith, Chief Executive of IP Group, expressed pleasure at the continued interest in the Group’s life sciences portfolio, highlighting the successful sale of Kynos Therapeutics earlier in October. He extended congratulations to the teams at Intelligent Ultrasound and Abliva for their achievements.
The forthcoming cash infusions are part of IP Group’s broader strategy to capitalize on its investments in high-potential companies within the life sciences sector. The information disclosed is based on a press release statement.
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