A former boss of Centrica, the proprietor of British Gasoline, is among the many candidates being thought-about to chair IP Group, the early-stage science investor.
Metropolis sources stated a choice was anticipated to be made by IP Group’s board about its subsequent chairman earlier than the top of the yr.
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Mr Conn left Centrica in 2020 after 5 years within the prime job.
IP Group has backed corporations together with Hinge Well being, which not too long ago floated in New York, and London-listed Oxford Nanopore.
Final yr, it benefited from a considerable payout for its stake in Featurespace following its £700m sale to Visa.
The London-listed firm’s portfolio additionally contains stakes in corporations equivalent to First Gentle, a nuclear fusion specialist.
This week, it introduced half-year outcomes disclosing hat it referred to “funding delays and pricing pressure for Oxa and Artios”, through which it stated the worth of its holdings had declined by greater than £35m.
IP Group’s shares have been buying and selling at round 53p on Thursday afternoon, giving the corporate a market capitalisation of just about precisely £500m.
A spokeswoman for IP Group declined to remark.
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