IP Group loss narrows
The Leeds-based firm, which takes university research and turns it into commercial outfits, reported a pre tax loss of 6.5m for the year ended Dec 31, compared with a loss of 40.5m a year earlier.
Net assets fell marginally to 171m from 173.8m.
The company said it had a good pipeline of opportunities from its partners, helped by its strategic deal with smaller rival Fusion IP.
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Hide AdIn November, IP Group said it conditionally agreed to buy a 19.8 per cent stake in Fusion and acquired co-investment rights in all future Fusion portfolio companies.
IP Group said it had a strong balance sheet with cash and deposits of 28.1m, no borrowings and a diversified portfolio of investments.