Acquisition - Replacement

IP2IPO Group PLC 10 October 2005 THE FOLLOWING REPLACES 'ACQUISITION AND PLACING' ANNOUNCEMENT RELEASED TODAY AT 12.53 ON RNS NO. 4409S PLEASE BE ADVISED THAT IN THE FIRST PARAGRAPH. SECOND SENTENCE THE WORD NANOSCIENCE REPLACES TOUMAZ ALL OTHER DETAILS REMAIN UNCHANGED, AND THE FULL AMENDED TEXT APPEARS BELOW. For immediate release 10th October 2005 IP2IPO GROUP PLC PROPOSED ACQUISITION OF TOUMAZ TECHNOLOGY LIMITED BY NANOSCIENCE INC IP2IPO Group plc (AIM: IPO) ('IP2IPO'), the intellectual property commercialisation company, is pleased to note that Nanoscience Inc (AIM: NAN) has announced that it has today conditionally agreed to acquire the entire issued share capital of Toumaz Technology Limited ('Toumaz'), one of IP2IPO's portfolio companies. Nanoscience is also proposing to carry out a Placing to raise £7.1 million before expenses which is due to complete immediately prior to the acquisition of Toumaz Toumaz develops ultra low power integrated circuits and silicon chips for use in wireless and signal processing applications. Nanoscience is a specialist nanotechnology investment company which floated on AIM in March 2005. The proposed acquisition, which is conditional upon the approval of Nanoscience shareholders, values Toumaz at approximately £17.7 million based on the average middle market price of shares in Nanoscience on the five business days prior to the announcement. The consideration will be in shares in Nanoscience. IP2IPO has a 5.3% shareholding in Toumaz and will have a 2.8% shareholding in the enlarged Nanoscience share capital on completion of the acquisition which is due to occur on 3rd November 2005. For more information please contact: IP2IPO 020 7489 5200 David Norwood, Chief Executive Officer Buchanan Communications 020 7466 5000 Tim Anderson, Mark Court Notes for editors IP2IPO is an intellectual property (IP) company that specialises in commercialising university technology. The Company was founded in 2001 and listed on the AIM Market of the London Stock Exchange plc in October 2003. IP2IPO's first partnership was with the University of Oxford. In return for an investment of £20 million, IP2IPO has acquired 50 per cent of the University of Oxford's equity in spin-out companies and technology licenses based on intellectual property created at the Chemistry Department until 2015. In November 2003, IP2IPO created a £5 million seed capital fund for investing in spin-out companies across the University of Oxford, not just those originating within the Chemistry Department. In March 2002, IP2IPO entered into a second long-term partnership with the University of Southampton. Under the terms of this partnership, IP2IPO is committed to working with the University of Southampton in the identification and facilitation of spin-out companies from across the University of Southampton and to investing £5 million in early-stage University of Southampton spin-out companies over a four year period in return for equity stakes in those companies. In addition, IP2IPO also received a 20 per cent stake in Southampton Asset Management Limited, a company that has been formed to hold the University's equity stakes in its spin-out companies. The partnership has a term of at least 25 years. IP2IPO entered into its third long-term partnership in May 2003 with King's College London. IP2IPO will work with King's College London to help identify and progress commercialisation opportunities as well as invest £5 million in seed capital in spin-out companies from King's College London over a five year period in return for equity stakes in those companies. In addition, IP2IPO will receive 20 per cent of King's College London's equity in spin-out companies and technology licenses. The partnership has a term of 25 years. In October 2003, IP2IPO announced a fourth partnership with the Centre for Novel Agricultural Products ('CNAP'), based at the University of York. CNAP is a flagship research centre that specialises in plant and microbial gene discovery. Under the terms of the partnership a new company, Amaethon Limited, has been created which has the right to commercialise CNAP's IP for 25 years. IP2IPO has invested £1.15m in Amaethon Limited in return for a 40% equity stake in Amaethon Limited (the remaining equity being owned by the University of York) and will also invest in the spin-out companies based on CNAP's IP which Amaethon Limited creates. In June 2004, IP2IPO acquired Top Technology Ventures Limited, an investment adviser to early stage technology funds. This combines IP2IPO's expertise in the creation of new ventures based on world leading university IP with Top Technology's focus on making early stage venture capital investments. In January 2005, IP2IPO acquired Techtran, a company set up in 2002 to commercialise university intellectual property under a long-term technology commercialisation contract with the University of Leeds. Under the terms of the contract Techtran receives a significant (30%) interest in spin-out companies created and technology licences negotiated, in return for the provision of technology transfer services to the University. In May 2005, IP2IPO announced the launch of LifeUK, a new subsidiary company. LifeUK, which has since been renamed Modern Biosciences, will in-license life science intellectual property created by medical researchers at universities with which IP2IPO already has partnerships, other universities in the UK and similar academic and charitable research institutions. Modern Biosciences' objective is to further develop the intellectual property which it in-licenses with a view to creating substantial value either by subsequently licensing these development programmes to the pharmaceutical industry or via the creation of new ventures. To date, 5 spin-out companies from the IP2IPO portfolio have listed on the AIM Market of the London Stock Exchange plc: Offshore Hydrocarbon Mapping plc, Synairgen plc, VASTox plc, Proximagen Neuroscience plc and GETECH Group plc. This information is provided by RNS The company news service from the London Stock Exchange BRRAAA

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