Partnership completion

IP2IPO Group PLC 03 November 2003 For Immediate Release 3 November 2003 IP2IPO Group PLC IP2IPO and the University of York complete innovative partnership IP2IPO Group PLC (AIM: IPO), the intellectual property business which commercialises university technology, is pleased to announce that it has completed a partnership with CNAP, a flagship research centre within the University of York which focuses on plant and microbial gene discovery. The key terms of the partnership, which was agreed in principal on 24 September 2003, are as follows: • a new company, Amaethon Ltd has been formed to commercialise CNAP's research through the formation of spin-out companies and technology licensing; • IP2IPO will invest £1.15m in Amaethon over three years in return for a one third equity stake in that company; • the University of York will own two thirds of the equity of Amaethon and has granted Amaethon exclusive rights over CNAP's research for 25 years; and • IP2IPO has committed to invest £750,000 directly in spin-out companies based on CNAP research and this amount may, in the future, be extended at IP2IPO's option. This is a highly innovative partnership structure under which Amaethon will be a stand alone company focused on creating value from CNAP's world class research activities. Dr Graham P Howe, with more than 15 years' senior level experience in the chemicals and life science industries, will join Amaethon as its Chief Executive. Commenting on the partnership, Dr Graham P Howe, Chief Executive of Amaethon, said: 'I am very pleased with the formation of Amaethon and the partnership with IP2IPO which highlights the strength and quality of CNAP's world class research.' David Norwood, Chief Executive of IP2IPO, said: 'We are delighted to have completed this deal with York University and the CNAP team. CNAP is an extremely impressive centre of excellence and adds another jewel to the IP2IPO crown.' CNAP CNAP is housed within the £22m purpose-built facilities of the University of York's new biology building and undertakes research across a range of disciplines with applications that include: • the production of fine chemicals, biocatalysts and industrial enzymes • health products from plants including new medicines and nutraceuticals • the development of novel biosensors • the development of protein based biomaterials The centre was established in 1999 by Professor Dianna Bowles and has achieved rapid growth since its inception. Its 60 members of staff are dedicated to full time research and the Centre now files a new patent every two weeks and plans to double in size over the next 3 years. For more information contact: IP2IPO (www.ip2ipo.com) David Norwood, Chief Executive Officer 020 7071 4348 Buchanan Communications Tim Anderson, Mark Court, Mary-Jane Johnson 020 7466 5000 Notes to editors IP2IPO IP2IPO is an intellectual property (IP) company that specialises in commercialising university-developed technology. The Company has already formed four long-term partnerships with UK universities and listed on AIM in October 2003. IP2IPO's first such partnership was with the University of Oxford. In return for an investment of £20 million (which enabled the completion of Oxford's new state of the art chemistry facilities), IP2IPO has acquired 50% of the university's interest in spin-out companies and technology licences based on intellectual property created at the chemistry department until 2015. 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 in the identification and facilitation of spin-out companies from across the University and to investing £5 million in early-stage University 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, a company that has been formed to hold the University's equity stakes in its future spin-out companies. The partnership has an initial term of 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 investing £5 million in King's College London's spin-out companies over a five year period in return for equity stakes in those companies. In addition, IP2IPO will receive 20% of King's College London's interest in spin-out companies and technology licenses. The partnership has an initial term of 25 years. The University of York The University of York is a dynamic and highly successful organisation, recognised internationally for its excellence in teaching and research. Named 'University of the Year' by the Sunday Times in September 2003, it has the highest average teaching score amongst UK universities and is ranked 6th for the quality of its research. Its continued success, including rapid expansion in research and spin-out activities, has led to ambitious plans for major expansion to the east of its main campus in south-east York. This information is provided by RNS The company news service from the London Stock Exchange

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