Portfolio Update

RNS Number : 6224N
Intl. Biotechnology Trust PLC
19 February 2009
 










19 February 2009




PORTFOLIO COMPANY INVESTMENT



The Board of International Biotechnology Trust plc (the 'Company') notes the following follow on investment in unquoted portfolio company TransEnterix Inc.

On 
18 February 2009, the Company invested £451,000 (US$642,000) into TransEnterix, which reached the milestones necessary to trigger this second round of funding. TransEnterix is based in North Carolina in the US, and this investment brings the Company's total invested cost in this investee company to £882,000, with a current value of £1.1m. TransEnterix is developing a surgical platform that provides all the benefits of a multi-port laparoscopic surgical approach while retaining a single port of entry through a natural body orifice or via the umbilicus.



Enquiries:


Kate Bingham/David Pinniger

SV Life Sciences Managers LLP          

Investment Manager                                       Tel: 020 7412 7070


Louise Richard

Schroder Investment Management Limited        Tel: 020 7658 6501



This information is provided by RNS
The company news service from the London Stock Exchange
 
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