Portfolio Update

RNS Number : 4426E

Intl. Biotechnology Trust PLC

06 April 2011

 



INTERNATIONAL BIOTECHNOLOGY TRUST PLC

Portfolio Update

The Board of International Biotechnology Trust plc (the "Company") notes the following changes to the unquoted portfolio during March 2011.

Follow on investments were made in to the following companies:

£312k ($500k) in a second tranche of a series B preferred round in Ophthotech

£177k in a new series B preferred stock round of Vantia

£38k ($60k) in a bridge round of financing for Lux Biosciences

£18k ($28k) in a convertible promissory note for Spinal Kinetics

The valuation of Reshape Medical was written down by 25% or £0.3m, representing 0.5p per share to the Company, in response to delayed approval for its product by the FDA.

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

6 APRIL 2011

 

END

 

 

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