Re: Glycoform

IP2IPO Group PLC
30 April 2004

For immediate release                                              30 April 2004

               Glycoform secures £960,000 in second round finance

IP2IPO Group plc (AIM: IPO), the intellectual property company that
commercialises university technology, is pleased to announce that Glycoform
Limited, a spin-out company from the University of Oxford in which IP2IPO holds
an equity stake, has succeeded in raising £960,000 in second round finance.

Glycoform, which was formed in November 2002 to develop the ground-breaking
carbohydrate chemistry research of Dr Ben Davis and Dr Antony Fairbanks, is
focused on two principal areas: the development of an advanced drug delivery
system based on harnessing the way carbohydrates specifically target cell
receptors; and the glycosylation of protein drugs - the attachment of
carbohydrates to proteins to improve their drug characteristics. The new funding
will enable Glycofrom to drive both these research programmes forward.

The financing round, which was extremely well supported by existing
shareholders, capitalises the company at £4.1 million. In line with its business
model, IP2IPO did not subscribe for new shares. Post the completion of the
financing, IP2IPO holds a 13% interest in Glycoform.


For more information contact:
IP2IPO
David Norwood, Chief Executive Officer                             020 7071 4348

Glycoform
Dr Ian Rubin, Chief Executive Officer                               07958 486769

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 technology. The Company has already formed four
long-term partnerships with UK universities and listed on AIM in October 2003.
IP2IPO's first such collaboration 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 March 2002, IP2IPO Limited 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 Limited 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 Limited entered into its third long-term partnership in May 2003 with
King's College London. IP2IPO Limited will work with King's College London to
help identify and progress commercialisation opportunities as well as invest £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 Limited 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
Limited 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.


                      This information is provided by RNS
            The company news service from the London Stock Exchange