IP GROUP PLC - Half Year Results 2026

IP Group PLC’s H1 2026 investor update highlights continued progress across net asset value growth, cash realisations and portfolio development, reinforcing the strength of its long-term science and technology investment strategy. NAV per share increased 3.2% to 114 pence at 30 June 2026 and subsequently reached approximately 117 pence, while the Group generated £69 million in cash proceeds during the period and £154 million since the start of 2025, keeping it on track to achieve its £250 million realisation target by the end of 2027. The portfolio delivered broad-based progress, including a £27 million increase in the value of its Pfizer obesity royalty interest to approximately £153 million following clinical and development milestones. Oxford Nanopore reported 12% constant-currency revenue growth to $117 million, a 400-basis-point improvement in gross margins to 62% and a more than 50% reduction in adjusted EBITDA losses, supporting its path towards EBIT break-even in 2027 and positive free cash flow in 2028. Across the wider portfolio, companies attracted more than half a billion pounds of third-party capital and delivered progress across therapeutics, quantum computing, autonomy, climate technology and AI-enabling infrastructure. IP Group ended the period with approximately £239 million of gross cash and deposits, while new third-party capital mandates with Aberdeen and the Australian Climate Catalyst Fund expanded future growth opportunities. With a diversified portfolio, disciplined capital allocation and a focus on accelerating realisations, IP Group remains positioned to convert scientific and technological innovation into sustainable shareholder value.