Proximagen Intention to Float

IP2IPO Group PLC
14 March 2005


For immediate release                                              14 March 2005

 PROXIMAGEN NEUROSCIENCE PLC ANNOUNCES ITS INTENTION TO FLOAT ON THE AIM MARKET
                          OF THE LONDON STOCK EXCHANGE

IP2IPO Group plc (AIM: IPO) ('IP2IPO'), the intellectual property company that
commercialises university technology, is pleased to announce that Proximagen
Neuroscience plc ('Proximagen'), a spin-out company from King's College London
focussed on neurodegenerative disease, has today announced its intention to
float on the AiM market of the London Stock Exchange plc by way of a Placing.
Prior to the Placing IP2IPO holds a 46.1% equity stake in Proximagen.

The press release issued today by Proximagen follows:

For immediate release                                              14 March 2005

                          PROXIMAGEN NEUROSCIENCE PLC
                        ('Proximagen' or 'the Company')

                      Intention to float on the AiM Market
                          of the London Stock Exchange

Proximagen Neuroscience plc, the drug discovery and development company focussed
on neurodegenerative disease, today announces its intention to join the AiM
Market of the London Stock Exchange plc by way of a Placing.

Highlights:

•   Proximagen was founded in November 2003 by Professor Peter Jenner and
    King's College London, leveraging more than 25 years of innovative
    neurodegenerative research

•   Proximagen has a pipeline with four compounds in development

•   Proximagen is seeking to raise up to £12m in a Placing of shares to
    institutional shareholders

•   The proceeds will be used to finance the Company's drug development
    programmes in Parkinson's and Alzheimer's diseases

•   The market capitalisation of Proximagen after the Placing is expected to
    be £30m
•   It is anticipated that Proximagen's ordinary shares will begin trading on
    AiM at the end of March 2005

•   KBC Peel Hunt Ltd is the Company's Nominated Adviser and Broker.

Commenting on the proposed flotation, Kenneth Mulvany, Proximagen's Chief
Executive Officer, said: 'I am delighted that Proximagen is joining AiM.  The
Company has outstanding expertise in the area of neurodegenerative disease and
we look forward to making further progress with the objective of adding value
for shareholders and improving the quality of life of patients.'


For more information please contact:

IP2IPO Group plc
David Norwood, Chief Executive Officer                      020 7067 1651

Proximagen Neuroscience plc
Kenneth Mulvany, Chief Executive Officer                    020 7848 6011

KBC Peel Hunt Ltd
Capel Irwin                                                 020 7418 8900

Buchanan Communications
Tim Anderson/Mark Court/Mary-Jane Johnson                   020 7466 5000

Notes for 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'), acquiring the remaining 80% stake in January 2005. Techtran has a
long-term technology commercialisation contract with the University of Leeds.
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's focus on making early stage venture capital investments.


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            The company news service from the London Stock Exchange