Last checked at 21 Mar 2019 09:18
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
21 March 2019
Frontier IP Group Plc
("Frontier IP" or the "Group")
Trading update
Frontier IP, a specialist in commercialising university intellectual property, is pleased to provide an update on trading for the year ending 30 June 2019.
The Group has enjoyed a strong first half to the financial year and since the beginning of 2019 there have been a number of positive portfolio updates as previously announced by the Group. In addition, Frontier IP has earlier today announced that Exscientia, a world leader in AI-driven drug discovery, has secured a significant trade deal with Celgene Corporation. This, combined with other progress Exscientia is making, is expected to result in a substantial uplift in Frontier IP's book value for its holding.
Whilst it is not possible for the Board to be certain on what the overall portfolio valuation will be at 30 June 2019 and progress of early and development stage businesses that constitute Frontier IP's portfolio is inherently uncertain, based on the trading for the year to date and the outlook for the remainder of the financial year the Board anticipates that the outcome for the year ending 30 June 2019 will be ahead of management expectations.
The Group will be releasing its interim results for the six months to 31 December 2018 by end of March 2019.
ENQUIRIES |
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Frontier IP Group Plc | T: 0131 240 1251 | |
Neil Crabb, Chief Executive Officer | ||
Andrew Johnson, Communications & Investor Relations | M: 07464 546 025 | |
Allenby Capital Limited (Nominated Adviser and Broker) | T: 0203 328 5656 | |
Nick Athanas |
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Nicholas Chambers |
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ABOUT FRONTIER IP: www.frontierip.co.uk
Frontier IP unites science and commerce by identifying strong intellectual property and accelerating its development through a range of commercialisation services.
The Group looks to build and grow a portfolio of equity stakes and licence income by taking an active involvement in spin-out companies, including support for fund raising and collaboration with relevant industry partners at an early stage of development.