- Intellectual property commercialisation company IP Group reports that its portfolio company Oxford Nanopore Technologies has announced £109.5m of investment and secondary share sales, while the group's cash realisations in 2019 increased to more than £75m.

Oxford Nanopore has raised £29.3m of new capital and facilitated the secondary sale of £80.2m of shares, an aggregate investment of £109.5m.

Following completion of the transaction, IP Group said it will hold an undiluted beneficial stake of 16.4% in Oxford Nanopore.

The directors expect the transaction to result in a fair value gain to the group of approximately £12m, compared with Oxford Nanopore's last financing round in March 2018, valuing IP Group's holding at approximately £264m.

IP Group said it will realise £22m cash from a partial sale of its holding in Oxford Nanopore as part of the secondary element of the transaction.

IP Group also announced that cash realisations during 2019 totalled more than £75m compared to the £30m achieved in 2018, excluding the £22m partial realisation of Oxford Nanopore.

It anticipates that gross cash resources at 31 December 2019 will be significantly in excess of the £161m reported at 30 June 2019.

IP Group chief executive Alan Aubrey said: 'IP Group has continued to focus attention this year on generating realisations from our maturing portfolio and we're pleased to report that cash exits in 2019 were more than double the amount recorded in 2018, leaving the business well-funded and well positioned for 2020.'

At 8:34am: [LON:IPO] IP Group PLC share price was +3.2p at 74.2p

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