IP Group plc - Appoints Dr Elaine Sullivan as Non-executive Director

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, is pleased to announce the appointment of Dr Elaine Sullivan to the Board as Non-executive Director with immediate effect.

Dr Sullivan has over 25 years of international experience working in the pharmaceutical industry and was a member of the senior management teams in R&D at Eli Lilly and AstraZeneca. She has developed new molecules in therapy areas including virology, cancer, ophthalmology, respiratory and inflammation. In 2015, she founded a specialist oncology company, Carrick Therapeutics, and holds the position of Chief Executive.

From 2011 to 2015, Dr Sullivan was Vice President Global External Research & Development in the US for Eli Lilly, where she led a global workforce delivering access to business critical external innovation. Global External R&D included the search and evaluation function and Chorus, the virtual early phase drug development arm. She was also a member of the Investment Committees of Lilly Ventures and Lilly Asian Ventures and a member of the Steering Committees of Lilly's Capital Fund Partners.

Dr Sullivan spent over 15 years at AstraZeneca, where she held a number of roles including Vice President, Science & Technology. During this period, she identified and established novel drug-hunting approaches from target to delivery of proof of concept, which successfully reduced compound attrition in the clinic and significantly decreased the time to deliver new molecules. She also held the position of Vice President, R&D New Opportunities, establishing and leading the first virtual Therapy Area in AstraZeneca. New Opportunities pinpointed new disease areas and future healthcare trends, created new therapeutic applications for multiple molecular entities and advanced them into the clinic.

Dr Sullivan has a BSc (Hons) in Molecular Biology from the University of Glasgow and a PhD in Molecular Virology from the University of Edinburgh.

In June 2015, Dr Sullivan was appointed to the Supervisory Board of Evotec AG, a drug discovery solutions company.

Mike Humphrey, Chairman of IP Group, said: "I am delighted to welcome Dr Sullivan to the Board. Her invaluable international experience in identifying and developing disruptive innovation, as well as creating and leading new functions to deliver significant impact, will be of great benefit to the Group. Her biotech and pharmaceutical background will also further enhance the breadth and diversity of knowledge on the Group Board."

Dr Sullivan said: "Over the years I have observed with interest how IP Group has evolved and grown and I am supportive of its unique approach to helping research academics turn their ideas into commercially viable businesses. It is a privilege to join the Board and I look forward to being able to play a role in the Group's future success."

IP Group confirms that there is no additional information which is required to be disclosed under Rule 9.6.13 of the Listing Rules of the UK Listing Authority.

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Notes for editors

About IP Group

IP Group is a leading UK intellectual property commercialisation company, developing technology innovations primarily from its research intensive partner universities. The Group offers more than traditional venture capital, providing its companies with access to business building expertise, networks, recruitment and business support.

IP Group's portfolio comprises holdings in around 90 early-stage to mature businesses across the Healthcare, Biotech, Cleantech and Technology sectors. These businesses include Oxford Nanopore Technologies, the DNA sequencing development company, Revolymer, best known for its removable chewing gum, and Xeros, which has received many accolades for its revolutionary clothes washing techniques with a much reduced requirement for water.

For more information, please visit our website at www.ipgroupplc.com.

ENDS