Directorate Change

IP2IPO Group PLC
01 September 2004


For immediate release                                          1 September 2004


        Dr Steven Lee becomes Chief Executive Officer of VASTox Limited


IP2IPO Group plc ('IP2IPO' or the 'Company') (AIM: IPO), the intellectual
property company that commercialises university technology, announces that Dr
Steven Lee is to become the full-time Chief Executive Officer of VASTox Limited
('VASTox'), a company in which IP2IPO has a 20% shareholding. Steven Lee, who
joined IP2IPO in 2001 and became a director of the Company in September 2002,
has resigned from the Board of IP2IPO with immediate effect.


VASTox provides sophisticated discovery and toxicology services to the
pharmaceutical and biotechnology industries by identifying drug targets for
human disease and drug prototypes that modulate the target in a rapid and
simultaneous way. The company was formed in March 2003 by Professor Steve
Davies, from the University of Oxford's Department of Chemistry. Professor
Davies was the scientific founder of the chemical services company Oxford
Asymmetry, which floated on the London Stock Exchange before being acquired by
Evotec for £316 million in 2000.

Dr Lee was instrumental in the formation of VASTox and has worked closely with
the company ever since. VASTox has now reached a very exciting point in its
development and the recruitment of an executive of Dr Lee's quality is a
testament to its ambitions.

David Norwood, Chief Executive Office of IP2IPO, commented: 'Together with the
Board of IP2IPO I would like to thank Steve for his contribution to the IP2IPO
business to which he devoted enormous energy and drive. He is ideally suited to
taking VASTox to the next level and, as major shareholders of VASTox, we wish
him every possible success.'


For more information please contact:

IP2IPO
David Norwood, Chief Executive Officer                    020 7242 9900

VASTox
Steven Lee                                                07766 913 898

Buchanan Communications
Mark Court, Mary-Jane Johnson                             020 7466 5000



Notes to editors


About IP2IPO


IP2IPO is an intellectual property (IP) company that specialises in
commercialising university technology. The Company was founded in 2001 and
listed on AIM 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 future 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 an initial 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
committed to invest £1.15m in Amaethon Limited in return for a one third 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 July 2004, IP2IPO acquired a strategic 20% stake in Techtran Group Limited
('Techtran'). Techtran has 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 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 focus on making early stage venture capital investments.





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