Portfolio Update

RNS Number : 0359U

Intl. Biotechnology Trust PLC

17 June 2009

 



INTERNATIONAL BIOTECHNOLOGY TRUST PLC

Portfolio Update

The Board of International Biotechnology Trust plc (the 'Company') notes the following change to the value of an unquoted portfolio company, which can not be named so as not to compromise its negotiations.

The Directors' valuation of the holding in this unquoted portfolio company has been decreased today from £4.1m ($6.7m) to £2.7m ($4.4m) to reflect the company's need to raise funding to progress its successful drug development programmes. This valuation change will be incorporated into the net asset value ('NAV') of the Company from today and reflected in the Company's NAV announcements with effect from tomorrow, Thursday, 18 June 2009.

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

17 JUNE 2009

 

END

 

 

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