Ip Group Share Price (IPO)

"Positive phase 2 trial for new cystic fibrosis drug" - new research freely accessible: https://www.equitydevelopment.co.uk/research/positive-phase-2-trial-for-new-cystic-fibrosis-drug

IP Group portfolio company, Enterprise Therapeutics, has announced positive results from its Phase 2 trial for ETD001, its lead candidate for the treatment of cystic fibrosis (CF). Enterprise is an on-balance-sheet direct investment in which IP Group was an early investor.

Successful trials typically increase the probability of reaching commercialisation, and hence valuation. It is relatively common at this stage for large pharma to show interest in investment or some form of partnership arrangement.

While the absolute number of people with CF is not vast (c. 100,000 globally), drug treatments are extremely expensive, so this is a potentially substantive commercial opportunity.

Enterprise now plans to advance ETD001 into longer‑duration Phase 2b clinical trials. It also intends to initiate clinical trials for sufferers already receiving CFTR modulator treatment, seeking improved efficacy if it is used in tandem.

Mello's Investment Trusts & Funds webinar is back tomorrow (12th May) from 1pm and it is FREE to join.

IP Group's current shareholders and potential investors may be keen to join our webinar tomorrow.

More details and registration is available via our website.

The agenda is as follows:

1:00pm Company Presentation from IP (LON:IPO)

Chris Glasson (Finance Director) will be presenting and available for questions

1:30pm Company Presentation from JPMorgan Japanese Investment Trust (LON:JFJ)

Emily Whiting (MD, Investment Specialist, Emerging Markets and Asia Pacific) will be presenting and available for questions

2:00pm Company Presentation from Custodian Property Income Reit (LON:CREI)

Richard Shepherd-Cross (Managing Director, Custodian Capital) will be presenting and available for questions

Chair appointment: IP Group has appointed Michael Queen (ex‑CEO of 3i) as Chair Designate, succeeding Sir Douglas Flint on 18 June 2026, adding deep private‑equity, venture and policy experience.

NAV vs share price: Group NAV at 31 Dec 2025 was 110p per share; the 64p share price implies the unquoted portfolio is valued at 42p, a 52% discount to its 88p NAV.

Exits momentum: Portfolio companies are maturing, with £183m realised in 2024, £68m in 2025, and c.£180m targeted by end‑2027, providing near‑term validation potential.

Upside optionality: Further NAV upside could come from royalty income tied to Pfizer’s next‑gen obesity drugs (subject to approvals); successful exits and/or approvals could narrow an arguably irrational discount.

Check out the brief new note (freely accessible) on the Equity Development website.

Skid35 the royalties can be sold on so I assume the valuation is based on what they can sell the assets for.

Royalty pharmaceutical buys royalties for instance.

Arhh should have read

I AM fully invested. In fact I am more than fully invested!