Board Change

RNS Number : 4201I

IP Group PLC

19 November 2008

 



PRESS RELEASE                                   

19 NOVEMBER 2008

IP Group plc - Board Change

IP Group plc (LSE: IPO) ('IP Group' or the 'Company' or 'Group'), the UK's leading university intellectual property commercialisation company, announces that David Norwood, Special Projects Director, will step down from the Board with effect from 31st December 2008. At the same time, David will be giving up all of his business interests, including stepping down from the Board of the IP Group portfolio companies of which he is currently a director, to pursue a career outside of the business world.

David Norwood said: 'I am very proud of what we have achieved at IP Group since 2001 and believe that the Company is well positioned as the dominant player in an increasingly important sector to the UK economy with the right team in place to take the Company forward.'  

Bruce Smith, Chairman of IP Group plc, commented: 'I have very much enjoyed working with David over the past six years and would like to thank him for his enormous contribution to the development of IP Group since the time of its formation. The Board and I wish him every success for the future'.

For further information, please contact: 

IP Group plc	0845 0742929
Alan Aubrey, Chief Executive Officer
Liz Vaughan-Adams (Communications)	020 7444 0062/07979853802
Financial Dynamics
Ben Atwell, John Dineen	020 7831 3113

Notes for Editors 

About IP Group

IP Group is an intellectual property (IP) commercialisation company that specialises in commercialising university technology. Founded in 2001, IP Group listed on AIM in October 2003 and moved to the Official List in June 2006. It has made two acquisitions to date - Techtran, a company set up to commercialise university intellectual property under a long term contract with the University of Leeds, in 2005 and Top Technology Ventures, an investment adviser to early stage technology venture capital funds, in 2004.

IP Group has formed long-term partnerships with ten universities - the University of Oxford, King's College London, CNAP/University of York, the University of Leeds, the University of Bristol, the University of Surrey, the University of Southampton, Queen Mary (University of London), the University of Bath and the University of Glasgow.

The Company's portfolio is diverse with exposure to five main sectors - Energy & Renewables, Healthcare & Life Sciences: Non-therapeutics, Healthcare & Life Sciences: Therapeutics, IT & Communications and Chemicals & Materials. To date, ten portfolio companies have listed on the AIM market of the London Stock Exchange, one on PLUS Markets and there have been two trade sales. IP Group also established three 'Modern-themed' subsidiaries - Modern Biosciences, Modern Water and Modern Waste. Modern Water was the first of these subsidiaries to float on AIM in June 2007.

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

ENDS

 

END

 

 

BOAILFFRLALTLIT