Portfolio Update

RNS Number : 9827J

Intl. Biotechnology Trust PLC

07 July 2011

 



INTERNATIONAL BIOTECHNOLOGY TRUST PLC

Portfolio Update

The Board of International Biotechnology Trust plc (the "Company") notes that an unquoted portfolio company that, for commercial reasons, cannot currently be named has been written down by £1.5m.

The Directors have changed the valuation of the Company's interest in this unquoted company from £2.7m to £1.2m on a cost of £3.7m to reflect the fact that business development discussions over the past six months have not produced a deal with an external party reflective of the valuation placed on this company.  This change in valuation will be included in the Company's Net Asset Value ("NAV") at close of business yesterday and will be released to the market today.  The reduction in NAV per share in comparison to that released yesterday is 2.69 pence per share.

Enquiries:

Kate Bingham/David Pinniger

Telephone: [phone]       

SV Life Sciences Managers LLP   

Investment Manager                                       

Rhona Gregg

Telephone: [phone]

BNP Paribas Secretarial Services Limited

Company Secretary

7 JULY 2011

 

END

 

 

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