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: [phone]

Louise Richard

Schroder Investment Management Limited        Tel: [phone]

 

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