REG - Frontier IP Group - Trading update

Frontier IPAnnouncement

12/01/2022 07:00

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RNS Number : 1353Y  Frontier IP Group plc  12 January 2022

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RNS

AIM: FIPP

12 January 2022

 

 

 

Frontier IP Group plc

("Frontier IP" or the "Group")

 

Trading update

 

Frontier IP (AIM: FIPP), a specialist in commercialising intellectual
property, is today providing a trading update ahead of publication of its
interim results for the six months to 31 December 2021 ("H1 2022") which are
expected to be released in March 2022. The Group has enjoyed a strong first
half to the financial year in particular due to the IPO on the Nasdaq Global
Select Market of portfolio company Exscientia plc ("Exscientia") during the
period.

 

Exscientia reported a strong set of quarterly results post admission and, on 7
January 2022, announced a strategic research collaboration with Sanofi that
will entitle Exscientia to an upfront cash payment of $100 million with the
potential for $5.2 billion in total milestones plus tiered royalties.  The
uplift in book value of this holding as at 31 December 2021 is expected to
make a significant contribution to the performance of the Group in H1 2022.

Further to the release of the Group's full year results in October 2021,
Frontier IP has now commenced a programme to realise part of its shareholding
in Exscientia. As at the date of this announcement a small portion has been
sold in January 2022 and the Group will provide a further update at the
appropriate time.

The Group's portfolio as a whole has continued to show strong commercial and
technical progress and a number of the companies are reaching key inflection
points. During the period The Vaccine Group announced encouraging data on the
development of its next generation COVID-19 vaccine, Camgraphic completed a
fundraising and management was strengthened at Pulsiv. This momentum is
continuing into 2022 and yesterday we were pleased to note Celerum launching
its Truck Logistics System at a time when supply chain challenges are high on
the priority list for many businesses.

 

While it is clear there are many challenges facing markets and industry, we
anticipate reporting a set of results for H1 2022 ahead of management
expectations and continuing to build on progress in the balance of the
financial year. We remain confident on the Group's prospects for the remainder
of the financial year and beyond.

 

ENQUIRIES

 

 Frontier IP Group Plc                                                  T: 020 3968 7815 neil@frontierip.co.uk

 Neil Crabb, Chief Executive                                            M: 07464 546 025

 Andrew Johnson, Communications & Investor Relations

 Company website: www.frontierip.co.uk (http://www.frontierip.co.uk/)

 Allenby Capital Limited (Nominated Adviser)                            T: 0203 328 5656

 Nick Athanas / George Payne

 Singer Capital Markets (Broker)                                        T: 0207 496 3000

 Sandy Fraser / Harry Gooden / George Tzimas

 

ABOUT FRONTIER IP

Frontier IP unites science and commerce by identifying strong intellectual
property and accelerating its development through a range of commercialisation
services. A critical part of the Group's work is involving relevant industry
partners at an early stage of development to ensure technology meets real
world demands and needs.

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.

 

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