IP Group PLC has announced that its Australian portfolio company, Hysata, has successfully completed a US$111m Series B funding round. The company, which focuses on developing electrolysers for green hydrogen production, plans to utilize the funding to advance product development and expand its production capacity in New South Wales, Australia. IP Group has been a longstanding supporter of Hysata, leveraging its cleantech investment platform, Kiko Ventures, to provide expertise and local presence.
Additionally, the company's portfolio company, Genomics plc, has entered into a collaboration with GSK to explore the potential use of polygenic risk scores (PRS) in clinical trials. This collaboration aims to enhance the understanding of disease risk and patient selection, potentially optimizing trial design. Another portfolio company, Pulmocide, has shared successful results from its Phase 2 safety study of inhaled opelconazole, an investigational product for respiratory diseases.
The company's cleantech platform, Kiko Ventures, has also provided insight into the processes involved in raising Hysata's Series B funding. Furthermore, IP Group's Australian Managing Director, Mike Molinari, has discussed the decline in university spending on research and development as a share of Australia's GDP.
IP Group PLC's recent reports, including the 2023 Annual Report and Impact Report, are now available for review on its website. The company is also preparing for its 2024 AGM, which will be held at its King's Cross Office and virtually accessible to shareholders. Additionally, the company's portfolio showcases several notable developments, including advancements in hydrogen fuel cell production, carbon capture trials, and the launch of innovative tracking software.
The company's website also features the latest Edison Research, providing comprehensive insights for investors. IP Group PLC continues to make significant strides in supporting its portfolio companies and driving innovation across various sectors, including cleantech, healthcare, and technology.