IP Group captures $141m during H1

Commercialisation firm IP Group today reported cash realisations from the business of around £114m ($141m) for the first half of 2020, up from $9m during the same period last year.
The gain means there was a $95.1m surplus compared with IP Group’s portfolio investments, which amounted to $45.6m versus $49.5m year-on-year.
IP Group posted a profit of $14.5m for the first six months having lost $62.9m one year ago, while its cash holdings grew to $304m from $204m year-on-year.
The portfolio collectively raised more than $433m compared with $304m year-on-year, with $247m of those commitments secured after the UK had entered lockdown.
The fair value of the IP Group’s investments amounted to $1.3bn, against $1.4bn at the end of June 2019.
Operational highlights included commercial progress at University of Oxford genetic sequencing spinout Oxford Nanopore, which has secured an initial 450,000 orders for its Covid-19 test from the UK’s Department of Health and Social Care.
Alan Aubrey, chief executive of IP Group, said: “The cash realisations from the portfolio, the positive portfolio return and continued prudent cost control have placed the group in an even stronger, more liquid financial position than at the beginning of 2020.
“We remain confident in the prospects for our portfolio that, as well as financial returns, is delivering meaningful impact and significant benefits to society at large.”