IP Group plc - Hinge Health IPO priced at top end of the range

-     Pricing represents more than 40 times multiple on IP Group's original investment

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, notes that portfolio company Hinge Health Inc ("Hinge Health" or "the Company") announced the pricing of its initial public offering at $32 per share, at the top end of its previously announced range.

The shares are expected to begin trading on the New York Stock Exchange today, May 22, 2025, under the ticker symbol "HNGE." The offering is expected to close on May 23, 2025, subject to customary closing conditions.

IP Group, which was one of the founding investors in Hinge Health, announces that it has realised an initial £1.0m* of proceeds through the partial sale of its holding in Hinge Health. Consistent with the Group's Capital Allocation Policy, the Board is allocating 50% of this towards its share buyback programme.

Following the initial sale, IP Group has a £25.6m* holding based on the $32 IPO price of Hinge Health. Having invested under £1.0m in total and having realised $15.0m in the 2021 funding round, this represents a multiple of over 40 times the original investment.

Greg Smith, Chief Executive of IP Group, said: "We're delighted to see such strong support for Hinge Health's IPO on the New York Stock Exchange. IP Group backed Hinge Health CEO Dan Perez from the very beginning as he showed such entrepreneurial spirit and tenacity. Having made more than a 40 times multiple on our original investment, this has proven a fantastic investment for IP Group and our congratulations go to Dan, Gabriel and the team."

Headquartered in San Francisco, California, Hinge Health leverages software, including AI, to largely automate care for joint and muscle health. The company has designed its platform to address a broad spectrum of MSK care - from acute injury, to chronic pain, to post-surgical rehabilitation - and the platform can help to ease members' pain, improve their function, and reduce their need for surgeries, all while driving health equity by allowing members to engage in their exercise therapy sessions from anywhere.

* GBP equivalent using 1.34 USD/GBP

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Notes for editors

About IP Group

IP Group accelerates the impact of science for a better future. As the most active UK based, early stage science investor, we develop and support some of the world's most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK's largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions. Our specialist investment team combines sector expertise with an international approach. Together we have a strong track record of success, having backed high-profile companies including Oxford Nanopore Technologies plc, Featurespace, First Light Fusion, Hysata, and Oxa. 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.

ENDS