Portfolio Update

RNS Number : 2432H

Intl. Biotechnology Trust PLC

16 February 2010

 



INTERNATIONAL BIOTECHNOLOGY TRUST PLC

Portfolio Update

The Board of International Biotechnology Trust plc (the "Company") notes the following changes to the unquoted portfolio company, Ricerca, and an investment in Itero Biopharma ("Itero").

The quarterly results for Ricerca combined with the impact of the buy back of debt which the Company part funded in November have resulted in an increase in the Director's valuation from $782k (£500k) to $845k (£540k).  A further £37k ($58k) has been invested through a convertible promissory note in Itero as part of a four stage financing of the business - bringing the total invested to £800k which is valued at £400k.

Enquiries:

Kate Bingham/David Pinniger

Telephone: [phone]       

SV Life Sciences Managers LLP   

Investment Manager                                       

Rachael Nelson

Telephone: [phone]

BNP Paribas Secretarial Services Limited

Company Secretary

16 FEBRUARY 2010

 

END

 

 

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