UK-based IP Group announced that it extended its commercialization agreement with the University of Manchester (via its technology transfer company, UMI3), to include Proof-of-Principle (PoP) funding for graphene projects. The IP Group will also commit a further 2.5 million GBP ($4.1 million) per the revised terms of the agreement.

IP Group is a developer of IP-based business. One of its portfolio companies is Applied Graphene Materials that recently raised £10 million by going public in the UK's AIM stock exchange.