Portfolio Update

RNS Number : 2210C

Intl. Biotechnology Trust PLC

27 April 2012

 



INTERNATIONAL BIOTECHNOLOGY TRUST PLC

Portfolio Update

The Board of International Biotechnology Trust plc (the "Company") notes that today a definitive agreement has been signed by Jazz Pharmaceuticals (NASDAQ:JAZZ) to buy the unquoted portfolio company EUSA Pharma for $650m in cash plus a potential $50m milestones payment.

The Director's have changed the valuation of the Company's interest in EUSA Pharma by £1.9m from £2.7m to £4.6m on a cost of £2.4m to reflect the terms of the deal.  This change in valuation will be included in the Company's Net Asset Value from today and will be released to the market on Monday.  The increase to NAV per share in comparison to that released yesterday is 3.5 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

27 April 2012

 

END

 

 

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