IP Group has announced that two quoted companies on its life sciences portfolio have received cash offers, with the group set to receive £13.8m.

The London-based investor in science and innovation companies stated that Intelligent Ultrasound Group, which IP Group has a 20.8% holding in, received a cash offer from Surgical Science Sweden AB, valuing the business at approximately £45.2m.

As a result, IP Group expects to receive £8.8m in cash for the holding.

In addition, Abliva AB, which discovers and develops medicines for the treatment of mitochondrial disease, has received a cash offer of approximately £52.4m from Pharming Technologies BV.

IP Group, which holds a 9.5% stake in Abliva, expects to receive £5m in cash for its holding.

The group said that it anticipates using approximately 20% of the proceeds from these transactions, which are expected to complete in 2025, to further increase the group’s share buyback programme, in line with its capital allocation policy.

Chief executive at IP Group, Greg Smith, said: "We're pleased to see continued interest in our life sciences portfolio following the successful sale of Kynos Therapeutics in October. Our congratulations go to Stuart Gall and the Intelligent Ultrasound team and to Ellen Donnelly and the team at Abliva."

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