The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

RNS

AIM: FIPP

25 January 2022

Frontier IP Group plc

("Frontier IP" or the "Group")

Sale of shares in Exscientia

Frontier IP (AIM: FIPP), a specialist in commercialising intellectual property, announces that further to the announcement released by the Group on 12 January 2022 the Group has sold a total of 183,901 American Depositary Shares ("ADSs") of portfolio company Exscientia plc ("Exscientia") (Nasdaq: EXAI) for net proceeds of approximately $4.0 million (approximately £2.9 million) at an average price of $21.68 per ADS (the "Exscientia Share Sales"). The Exscientia Share Sales took place between 10 January 2022 and 21 January 2022. The book value of the ADSs sold as at 30 June 2021, being the last published balance sheet of the Group, was £1.55 million and the Exscientia Share Sales have generated an estimated realised gain of £1.38 million for Frontier IP in the current financial year to 30 June 2022.

Following the Exscientia Share Sales, Frontier IP will be interested in 1,380,899 shares in Exscientia. The Directors of Frontier IP intend to use the net proceeds from the sale of ADSs in Exscientia for general working capital purposes and to provide further support to the Group's existing portfolio companies.

Exscientia uses artificial intelligence ("AI") to modernise the way new medicines are discovered and developed, aiming to deliver medicines faster than industry standards. Exscientia has built a complete end-to-end solution of AI and experimental technologies for target identification, drug candidate design, translational models and patient selection. ADSs of Exscientia trade on the Nasdaq Global Select Market. Each ADS represents one ordinary share in Exscientia. On 7 January 2022, Exscientia 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. Exscientia announced its third quarter results to 30 September 2021 on 17 November 2021. These showed that based on unaudited financials for the nine months ended 30 September 2021, Exscientia generated revenue of £23.2 million and a loss before taxation of £33.1 million.

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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.