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