IP Group plc expects to receive £13.8 million in total proceeds from cash offers for two of its life sciences portfolio companies, with approximately 20% of the proceeds earmarked for expanding its share buyback program.
The first offer comes from Surgical Science Sweden AB for Intelligent Ultrasound Group plc, valued at £45.2 million. IP Group’s 20.8% stake will generate £8.8 million in proceeds, representing a £4.4 million (100%) increase from its last reported value in June 2024. This cash offer supersedes a previously planned distribution from the sale of Intelligent Ultrasound’s AI business.
The second offer involves Pharming Technologies BV’s bid for Abliva AB, a mitochondrial disease treatment developer, valued at SEK 725.3 million (£52.4 million). IP Group’s 9.5% holding is expected to yield £5 million, marking a significant £3.7 million (284%) increase from its June 2024 valuation and delivering 1.5 times the original investment cost.
Both transactions remain subject to standard closing conditions and necessary approvals, with IP Group committed to providing updates upon completion of each deal.
“We’re pleased to see continued interest in our life sciences portfolio following the successful sale of Kynos Therapeutics in October. Our congratulations go to Stuart Gall and the Intelligent Ultrasound team and to Ellen Donnelly and the team at Abliva,” said Greg Smith, Chief Executive of IP Group.