IP GROUP PLC (LON:IPO) Enterprise Therapeutics raises £29m

Transparency directive : regulatory news

12/04/2018 09:19
IP Group PLC  -  IPO   

Enterprise Therapeutics raises £29m


Released 09:19 12-Apr-2018









FOR RELEASE ON



12 April 2018



 


IP Group plc - Portfolio company Enterprise Therapeutics raises £29m funding


 


IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, is pleased to note that its portfolio company Enterprise Therapeutics Limited ("Enterprise" or "the Company"), has announced a £29 million fundraising.


 


Enterprise Therapeutics, which entered the IP Group portfolio following the combination with Touchstone Innovations, is developing muco-regulatory therapies to treat patients with respiratory diseases of high unmet medical need, where mucus obstruction reduces lung function, leading to difficulty in breathing and recurrent lung infections.


 


The financing, which was oversubscribed, was co-led by Versant Ventures and Novartis Venture Fund with funding from new investor Forbion and existing shareholders Epidarex Capital and IP Group.


 


IP Group has committed to invest a total of £4.7 million of the round, which is tranched and subject to the achievement of certain milestones. The Group has invested £2.5 million in the first tranche of the fundraising.


 


The investment will fund Enterprise Therapeutics' drug discovery pipeline of muco-regulatory therapies into clinical development, enabling new treatment options for cystic fibrosis, chronic obstructive pulmonary disease and severe asthma.


 


For more information, please contact:


 


























IP Group plc



www.ipgroupplc.com



Alan Aubrey, Chief Executive Officer

Greg Smith, Chief Financial Officer

Liz Vaughan-Adams, Communications           



+44 (0) 20 7444 0050



+44 (0) 20 7444 0062/+44 (0) 7979 853802



Charlotte Street Partners






Andrew Wilson



+44 (0) 7810 636995



Martha Walsh



+44 (0) 7876 245962



 


Notes for editors


 


About IP Group


 


IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.


Group holdings in portfolio companies reflect the undiluted beneficial equity interest excluding debt, unless otherwise explicitly stated.


For more information, please visit our website at www.ipgroupplc.com.


 


ENDS



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