Portfolio Management Arrangements

THE BIOTECH GROWTH TRUST PLC

8 December 2017

Portfolio management arrangements

The Board of The Biotech Growth Trust PLC (‘the Company’) has been advised by the partners of OrbiMed Capital LLC (‘OrbiMed’) that Mr Samuel D. Isaly is to step down from OrbiMed Capital LLC.

The Company confirms that the ongoing portfolio management team within OrbiMed that is responsible for the management of the Company’s investment portfolio remains unchanged, led by Geoff Hsu and Richard Klemm.

Enquiries:

Alastair Smith

Frostrow Capital LLP

Tel: [phone]