LONDON (ShareCast) - (Sharecast News) - Intellectual property business IP Group said on Thursday that its day-to-day operations had been largely unaffected by the Covid-19 pandemic so far this year.
IP Group said it remained "well-financed" and had gross cash of £256.6m following record realisations of £113.8m year-to-date - up 43.1% on 2019's whole-year figure.

The FTSE 250-listed firm said it has invested £27.7m in 30 portfolio companies so far in 2020 and continues to assess and respond to the impacts of Covid-19 on its portfolio - 87% of which was made up of life sciences, technology and cleantech businesses.

IP believes its portfolio includes "world-changing businesses" that will deliver "significant benefits to society at large".

"While the year to date has undoubtedly been a period of significant change and we have experienced volatility, particularly in the capital markets, we remain positive on our portfolio's prospects," said IP Group.

"We are proud of the many IP Group companies, past and present, that are contributing to the response to Covid-19, including Oxford Nanopore Technologies, Ieso Digital Health, Oxehealth, Navenio and MobilION Systems."

As of 0855 BST, IP Group shares were down 1.62% at 60.70p.

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