IP Group plc - Portfolio company Istesso announces initiation of Phase 2b trial of lead drug MBS2320

MBS2320 administered to participants with moderate-to-severe rheumatoid arthritis

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which develops world-changing science and technology businesses across life sciences, technology and cleantech, notes that portfolio company Istesso Ltd ("Istesso" or "the Company"), the immunometabolism drug discovery and development company, has announced the initiation of its Phase 2b trial of MBS2320, its lead drug in rheumatoid arthritis, with the first patients now dosed.

MBS2320 is a first-in-class investigational drug which reduces inflammation and supports the remodelling of damaged tissue. This dual mode-of-action enables MBS2320 to offer the unique potential to reverse underlying pathology in bone and joints. Rheumatoid Arthritis is a chronic, progressive, and disabling auto-immune disease affecting one per cent of the global population, 165 million people worldwide.

The trial is a phase 2b randomized, multi-centre, double-blind parallel group, placebo-controlled trial investigating the efficacy and safety of multiple doses of the metabolic reprogramming agent MBS2320. The study will enrol patients with Rheumatoid Arthritis who have had an inadequate response to methotrexate. The primary endpoint is the proportion of subjects achieving American College of Rheumatology 20% (ACR20). The study will consist of a twelve-week treatment period and will enrol subjects in multiple countries in Europe and Latin America. Istesso expects results from the study in 2024.

Sam Williams, Managing Partner, IP Group Life Sciences, and Istesso Chairman, said: "This marks an important milestone for both Istesso and IP Group. IP Group has been the majority shareholder in Istesso for more than a decade and this news validates the Group's long-term approach to supporting portfolio companies, technologies and products that have the potential to change people's lives for the better. IP Group fully supports Istesso's ambition to bring MBS2320 to a range of patients who are inadequately served by current treatments for rheumatoid arthritis and we look forward to the data from this study in a couple of years' time."

IP Group has an undiluted holding of 56% in Istesso.

For more information, please contact:

Notes for editors

About IP Group

IP Group develops world-changing science and technology businesses across life sciences, technology and cleantech (through Kiko Ventures). The Group has a strong track record of success, having been the founder investor in a number of high-profile companies including Oxford Nanopore Technologies plc, and has one of the most exciting portfolios of high-growth businesses in Europe. The Group also owns Parkwalk, the UK's largest growth EIS fund manager which backs world-changing technologies emerging from the UK's leading universities and research institutions. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.

For more information, please visit our website at www.ipgroupplc.com.

About Istesso

Istesso is a clinical-stage biopharmaceutical company, developing novel drug candidates which reprogramme immune cell metabolism to treat autoimmune and inflammatory conditions. Istesso's products have applications in conditions such as Rheumatoid Arthritis, Multiple Sclerosis and Cancer.

About MBS2320

MBS2320 is an investigational, first-in-class metabolic reprogramming agent. Its unique dual mode of action, reducing inflammation and supporting the remodelling of tissue damage gives MBS2320 the potential to both control the disease symptoms and resolve the underlying pathology across multiple disease indications including RA and other autoimmune diseases.

About rheumatoid arthritis

Rheumatoid arthritis (RA) is a chronic, progressive, and disabling auto-immune disease affecting one per cent of the global population, or ~165 million people worldwide. Unchecked, RA can progress very rapidly, causing swelling and damaging cartilage and bone around the joints and cause severe disability. A number of treatments are available for the conditions, but these are associated with increased infection rates, and for some classes, a risk of major cardiovascular events. In addition, a large proportion of patients fail to respond, or experience ongoing symptoms such as pain and flare, and continue to suffer from bone erosions.