IP Group — Interesting call option on anti-obesity programme
06/08/2026
IP Group allows investors to tap into the vast opportunity set of innovative, private companies and IP rights. We believe these investments align with some of the most compelling investment themes over the next decade, spanning anti-obesity drugs, gene sequencing, AI infrastructure, quantum computing, fusion energy, green hydrogen and autonomous vehicles, among others. IP Group remains focused on doubling down on a narrow set of more mature, growth-stage businesses to generate returns. The company’s NAV per share increased by 13.0% in FY25, primarily on the back of a £126.4m increase in the value of its royalty and milestone exposure to Pfizer’s Metsera-derived obesity pipeline, which makes IP Group an interesting ‘call option’ on Pfizer’s anti-obesity programme.
Bull, Bear & Beyond – IP Group: executive interview
07/05/2026
In this interview, IP Group CEO Greg Smith and Edison’s Dan Ridsdale discuss Edison’s view that the group offers a compelling asymmetric return profile through its exposure to potential future income streams from Pfizer’s anti-obesity products. Smith explains how IP Group has recognised a discounted value for these future licensing streams in NAV, reflecting clinical risk and contributing to a 13% increase in NAV per share to £1.10. He also covers progress towards the group’s target of £250m of cash realisations between 2025 and 2027, supported by exits including Hinge Health, Monolith and CoreWeave-related proceeds. Smith points to continued momentum in third-party capital through new mandates with abrdn and Australia’s CEFC, and he outlines IP Group’s AI exposure across enabling infrastructure, quantum, optical computing and healthcare applications, supported by a strong balance sheet and active capital returns.
The company has recently announced the appointment of Michael Queen, formerly CEO of 3i Group, as non-executive director and chair designate.
IP Group helps to create, build and support IP-based companies internationally. It focuses on companies that meaningfully contribute to regenerative (renewable), healthier (life sciences) and tech-enriched (deep tech) futures.
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About Bull, Bear & Beyond: Each episode features candid conversations with senior executives and from our own team of experts from across industries, exploring strategy, innovation, and the opportunities shaping their markets and 60-second pieces are a compressed summary of content designed to convey our message in a single, easily shareable hit.
IP Group – executive interview
07/05/2026
In this interview, IP Group CEO Greg Smith and Edison’s Dan Ridsdale discuss Edison’s view that the group offers a compelling asymmetric return profile through its exposure to potential future income streams from Pfizer’s anti-obesity products. Smith explains how IP Group has recognised a discounted value for these future licensing streams in NAV, reflecting clinical risk and contributing to a 13% increase in NAV per share to £1.10. He also covers progress towards the group’s target of £250m of cash realisations between 2025 and 2027, supported by exits including Hinge Health, Monolith and CoreWeave-related proceeds. Smith points to continued momentum in third-party capital through new mandates with abrdn and Australia’s CEFC, and he outlines IP Group’s AI exposure across enabling infrastructure, quantum, optical computing and healthcare applications, supported by a strong balance sheet and active capital returns. The company has recently announced the appointment of Michael Queen, formerly CEO of 3i Group, as non-executive director and chair designate. IP Group helps to create, build and support IP-based companies internationally. It focuses on companies that meaningfully contribute to regenerative (renewable), healthier (life sciences) and tech-enriched (deep tech) futures.