ONT investment from Novo and £80m equity issue

IP Group plc - Portfolio company Oxford Nanopore Technologies attracts investment from Novo Holdings and completes Equity Issue of £80m

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, is pleased to note that Oxford Nanopore Technologies plc ("Oxford Nanopore" or "the Company") has announced a new strategic investment from Novo Holdings A/S ("Novo Holdings"), a world-leading life sciences investor, as part of an £80m equity issue which was "multiple times oversubscribed".

Oxford Nanopore confirmed a total of 25,000,000 New Ordinary Shares had been placed, at a price of 120 pence, raising gross proceeds of approximately £30m. The subscription by Novo Holdings was reduced to £50m from £60m with Novo Holdings intending to "subject, inter alia, to availability and price, to add over time to their initial primary investment through further market purchases of up to £10m".

Oxford Nanopore noted that it had decided to increase the size of the equity issue to £80m "in light of the strong demand from investors, with the transaction multiple times oversubscribed".

Greg Smith, Chief Executive officer of IP Group, said: "This strategic investment from Novo Holdings coupled with strong support from investors is a huge endorsement of Oxford Nanopore. We are proud to continue supporting the Company, a business that we helped found in 2005."

Following admission of the newly issued shares, IP Group will have an undiluted beneficial holding of 8.9% in Oxford Nanopore and manages an additional 1.3% through its managed funds.