IP Group Plc portfolio company Hinge Health has filed with the US market regulator to go public on the New York Stock Exchange.
IP's 1.8% stake in the company that it founded was valued at £34.2m as of 30 June 2024.
Hinge's platform employs software and artificial intelligence to largely automate joint and muscle health care.
Nonetheless, the size, price and whether the offering would even go ahead was subject to market conditions.
As of 1535 BST, shares of IP Group were adding 1.42% to 39.40p.