IP sees value of portfolio increase

IP Group, the developer of intellectual property based businesses, has reported a £4.3m fair value increase in its portfolio which now stands at £107.2m.

By The Newsroom

Published 4th Nov 2010, 19:49 BST

Updated 4th Nov 2010, 19:49 BST

Following the sale of the group's stake in Leeds-based Coe Group, realisations for the year to date are significantly ahead of 2009 at 2.6m.

Chief executive Alan Aubrey said the group continues to be financially strong with cash of 22m and no borrowings.

The group has investments in several Yorkshire companies including York-based Tissue Regenix and Syntopix, a Bradford-based spin-out from the University of Leeds which develops compounds to treat skin disorders.

"It has been particularly encouraging to note further significant developments in the commercial and technical progress of the group's portfolio businesses," said Mr Aubrey.

"The announcement of product launches and partnerships with major global companies highlights the significant potential value in these companies' technologies."