IP Group PLC recently held a webinar discussing their approach to impact and ESG, featuring host Alex Edmans, Professor of Finance at London Business School, Head of ESG Bran Pathmanban, and CEO Greg Smith. Autifony Therapeutics, a portfolio company of IP Group, has signed a global licensing agreement with Jazz Pharmaceuticals worth up to $770 million. The agreement aims to develop drug candidates for neurological disorders. Several of IP Group's Life Sciences portfolio companies were featured in PwC UK's 'Life Sciences Future 50' report, highlighting the innovation of UK Life Sciences companies. Parkwalk, IP Group's EIS fund management business, also had portfolio companies featured in the report.
IP Group examines the challenges and potential solutions for accommodating cutting-edge AI in the future, considering the increase in the size and sophistication of large language models. Parkwalk welcomes the extension of the VCT and EIS sunset clauses to 2035, as announced by Chancellor Jeremy Hunt in the Autumn Statement. This extension is seen as fantastic news for UK start-ups and spin-outs. Parkwalk has also launched its Knowledge Intensive EIS Fund III to support cutting-edge technology companies spun out of leading UK universities and research institutions. The Parkwalk team was awarded Best EIS Investment Manager for the second year in a row at the Growth Investor Awards 2023.
IP Group Australia's portfolio company AMSL Aero received backing from the Australian Renewable Energy Agency (ARENA) to develop a hydrogen fuel cell system for the hydrogen-powered aircraft Vertiia. ARENA committed A$5.43 million to the project. IP Group's Deeptech team, along with British Patient Capital, hosted a networking event for investors in the Deeptech space, featuring discussions and collaboration opportunities. Former WaveOptics CEO David Hayes engaged in a fireside chat with Dr. Mark Reilly, Managing Partner of Technology at IP Group, discussing WaveOptics' journey and acquisition by Snap Inc. Audioscenic Limited, another portfolio company, demonstrated their immersive audio technologies at the event.
Edison research provides a detailed look at IP Group's deeptech portfolio, which has an aggregate value of over £200 million. The portfolio focuses on applied AI, next-generation networks, human-machine interface, and future compute. Around 90% of the deeptech portfolio has already started generating revenue. Featurespace and Garrison Technology are the two most valuable holdings, with revenues in the tens of millions sterling and growing quickly. In portfolio news, Intelligent Ultrasound has launched new gestational age estimation AI software, ScanNav FetalCheck, and IBEX Innovations has introduced Bone Health Powers DensityScan, a revolutionary product.