IP Group PLC Portfolio co Hinge Health completes $300m round (8336K)
06 Enero 2021 - 10:57AM
UK Regulatory
TIDMIPO
RNS Number : 8336K
IP Group PLC
06 January 2021
FOR RELEASE ON 06 January 2021
THIS ANNOUNCEMENT CONSTITUTES INSIDE INFORMATION AS STIPULATED
UNDER THE MARKET ABUSE REGULATION (EU) NO.596/2014.
IP Group plc - Portfolio company Hinge Health completes $300m
funding round
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the
developer of intellectual property-based businesses, notes that
portfolio company Hinge Health, Inc, a digital clinic for back and
joint pain for employers and health plans , h as completed a $300m
(GBP225m*) Series D investment round valuing the company at
approximately $3bn (GBP2.2bn*).
Following completion of the investment round, IP Group has an
undiluted beneficial holding of approximately 2.4% in Hinge Health
that the directors anticipate will be valued at GBP42.1 million,
representing a net unrealised fair value gain to the Group of
approximately GBP30.7 million.
* GBP equivalent using 1.34 USD/GBP
For more information, please contact:
IP Group plc www.ipgroupplc.com
+44 (0) 20 7444 0050
Greg Smith, Chief Financial Officer +44 (0) 20 7444 0062/+44 (0)
Liz Vaughan-Adams, Communications 7979 853802
Charlotte Street Partners
David Gaffney +44 (0) 7854 609998
Andrew Wilson +44 (0) 7810 636995
Notes for editors
About IP Group
IP Group is a leading intellectual property commercialisation
company which focuses on evolving great ideas, mainly from its
partner universities, into world-changing businesses. The Group has
pioneered a unique approach to developing these ideas and the
resulting businesses by providing access to business building
expertise, capital (through its 100%-owned FCA-authorised
subsidiaries IP Capital and Parkwalk Advisors), networks,
recruitment and business support. IP Group has a strong track
record of success and its portfolio comprises holdings in
early-stage to mature businesses across life sciences and
technology. IP Group is listed on the Main Market of the London
Stock Exchange under the code IPO.
Group holdings in portfolio companies reflect the undiluted
beneficial equity interest excluding debt, unless otherwise
explicitly stated.
For more information, please visit our website at
www.ipgroupplc.com .
About Hinge Health
Hinge Health is pioneering the world's most patient-centred
Digital Clinic for back & joint pain. The company's Digital
Clinic is the #1 musculoskeletal (MSK) solution for employers and
health plans. Hinge Health has 300+ health plan, employer, and
public sector customers and empowers people to reduce chronic pain,
opioid use and surgeries. Learn more at www.hingehealth.com
ENDS
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END
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January 06, 2021 11:57 ET (16:57 GMT)
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