Portfolio Update

RNS Number : 2512U

Intl. Biotechnology Trust PLC

24 December 2012

 



INTERNATIONAL BIOTECHNOLOGY TRUST PLC

Portfolio Update

The Board of International Biotechnology Trust plc (the "Company") announces that one of its unquoted portfolio companies, which cannot currently be named for commercial reasons, received Phase III results last week, Thursday, 20 December 2012, for a drug that it is developing.  The drug failed to meet its primary endpoint and so the Directors valuation of its interest in this company has been reduced from £1.3m to zero which will be included in the Net Asset Value ("NAV") for Friday, 21 December 2012 which will be released today.

The reduction in NAV per share resulting from this reduction in value in comparison to that released for Thursday, 20 December 2012 will be 2.3 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

24 DECEMBER 2012

 

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