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Frontier IP Group plc (FIPP.L, 81p, £34.1m) Half year results A period of strong portfolio development Frontier has made excellent progress in the six months to December 2018 with an increase in the fair value of the core portfolio of 27% and an uplift in NAV from 33.2p to 38.8p. In the full nine-month period since the June 2018 year end there have been three new spinouts, new collaboration agreements signed by seven portfolio companies, six companies receiving government funded grants, two companies completing third party funding rounds and Frontier itself completing an oversubscribed placing. These various developments and in particular, those from The Vaccine Group and Exscientia, provide a clear indication of the quality of the IP inherent within the core portfolio companies and their commercial potential. Management remains confident of delivering further progress during the second half and with momentum gathering pace, anticipates that the outcome for the full year will be ahead of its expectations. (Ian Jermin)
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