ONT investment from Novo and £80m equity issue

IP Group PLC

01 August 2024

 

FOR RELEASE ON

01 August 2024

IP Group plc - Portfolio company Oxford Nanopore Technologies attracts investment from Novo Holdings and completes Equity Issue of £80m

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, is pleased to note that Oxford Nanopore Technologies plc ("Oxford Nanopore" or "the Company") has announced a new strategic investment from Novo Holdings A/S ("Novo Holdings"), a world-leading life sciences investor, as part of an £80m equity issue which was "multiple times oversubscribed".

Oxford Nanopore confirmed a total of 25,000,000 New Ordinary Shares had been placed, at a price of 120 pence, raising gross proceeds of approximately £30m. The subscription by Novo Holdings was reduced to £50m from £60m with Novo Holdings intending to "subject, inter alia, to availability and price, to add over time to their initial primary investment through further market purchases of up to £10m".

Oxford Nanopore noted that it had decided to increase the size of the equity issue to £80m "in light of the strong demand from investors, with the transaction multiple times oversubscribed".

Greg Smith, Chief Executive officer of IP Group, said: "This strategic investment from Novo Holdings coupled with strong support from investors is a huge endorsement of Oxford Nanopore. We are proud to continue supporting the Company, a business that we helped found in 2005."

Following admission of the newly issued shares, IP Group will have an undiluted beneficial holding of 8.9% in Oxford Nanopore and manages an additional 1.3% through its managed funds.

For more information, please contact:

IP Group plc	www.ipgroupplc.com
Liz Vaughan-Adams, Communications	[phone]/[phone]
Portland
Alex Donaldson	[phone]

Notes for editors

About IP Group

IP Group accelerates the impact of science for a better future. As the most active UK based, early stage science investor, we develop and support some of the world's most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK's largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions. Our specialist investment team combines sector expertise with an international approach. Together we have a strong track record of success, having backed high-profile companies including Oxford Nanopore Technologies plc, First Light Fusion, Hysata, and Oxa. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO. For more information, please visit our website at www.ipgroupplc.com.

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