Net Asset Value

RNS Number : 2388V

Port Erin Biopharma Investments Ltd

09 January 2012

Port Erin Biopharma Investments Limited

("the Company")

Net Asset Value calculation for the first trading quarter to 31 December 2011

Tom Winnifrith, Chief Investment Officer, commented: -

"The maiden Net Asset Value calculation for the Company as at close of business on 31 December 2011 is 8.56 pence per share, with 33.9% of the money raised at IPO still to be invested. This outcome is particularly pleasing considering the uncertainty of the current market conditions and that the net cash available for investment after listing costs was £2.75 million - the NAV immediately after listing on 15 September 2011 was 8.33 pence share."

		Unaudited 15 September to 31 December 2011 £
Fixed Assets
	Investments	1,809,046
Current Assets
	Sundry Debtors	0
	Uninvested cash	1,016,033
Current Liabilities
	Creditors: amounts due	0
		2,825,079
Capital and Reserves
	Share Capital	3,000,003
	Share Premium	997
	Capital reserve - realised	0
	Capital reserve - unrealised	0
	Revenue reserve	(175,921)
		2,825,079

Shares in Issue		33,000,000
Net Asset Value per share		8.56 pence

	Detailed Portfolio
Company	Value @ 31/12/11	Portfolio %
Arrowhead Research Corp.	275,644	15.2%
Plethora Solutions Holdings plc	111,319	6.2%
Smith & Nephew plc	91,712	5.1%
Novo-Nordisk A/S	81,817	4.5%
Ariad Pharmaceuticals Inc.	81,783	4.5%
Pfizer Inc.	77,145	4.3%
Biogen Idec Inc.	72,045	4.0%
Eli Lilly & Co.	71,369	3.9%
Amgen Inc.	70,753	3.9%
GlaxoSmithKline plc	69,966	3.9%
H. Lundebeck A/S	68,210	3.8%
Roche Holding AG	67,875	3.8%
Sanofi S.A.	66,615	3.7%
Gilead Sciences Inc.	66,324	3.7%
Medivation Inc.	65,738	3.6%
Seattle Genetics Inc.	54,155	3.0%
Cepheid Inc.	53,513	3.0%
Astellas Pharma Inc.	53,381	3.0%
Synergy Pharmaceuticals Inc.	53,378	3.0%
Protalix Biotherapeutics Inc.	49,329	2.7%
Alkermes plc	47,232	2.6%
Kamada Ltd.	44,938	2.5%
Siga Technologies Inc.	37,419	2.1%
Pharmathene Inc.	34,434	1.9%
Methylgene Inc.	23,962	1.3%
Star Scientific Inc.	18,988	1.0%