Portfolio Update

RNS Number : 6082T

Intl. Biotechnology Trust PLC

09 June 2009

 



INTERNATIONAL BIOTECHNOLOGY TRUST PLC

Portfolio Update

The Board of International Biotechnology Trust plc (the 'Company') notes the following development within the quoted portfolio.

On Monday, 8 June 2009 portfolio company Micromet, Inc. (NASDAQ: MITI), announced that one of its drugs, Blinatumomab, had achieved its primary endpoint in a Phase II study for Acute Lymphoblastic Leukaemia Patients.

As at close of business on Friday, 5 June 2009, the Company's investment in MITI represented £6.8m or 7.3% of the Company's net asset value ('NAV') at a closing price of $4.61 per share. At close of business on Monday, 9 June 2009, the share price was $4.97 per share - a 7.8% increase in value - which represented £7.3m or 7.9% of the Company's NAV at close of business yesterday.

Enquiries:

Kate Bingham/David Pinniger

Telephone: [phone]       

SV Life Sciences Managers LLP   

Investment Manager                                        

Rachael Nelson

Telephone: [phone]

BNP Paribas Secretarial Services Limited

Company Secretary

9 June 2009

 

END

 

 

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