Portfolio Update

RNS Number : 8994D

Intl. Biotechnology Trust PLC

30 March 2011

 



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 Align Technology, Inc (NASDAQ:ALGN) to buy the portfolio company Cadent Holdings Inc.("Cadent") for $190m

The Directors have changed the valuation of the Company's interest in Cadent from £4.2m to £5.4m on a cost of £1.8m to reflect the terms of the deal.  This change in valuation will be included in the Company's Net asset value ("NAV") from today and will be released to the market tomorrow.  The increase to NAV per share in comparison to that released today is 1.88p 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

30 MARCH 2011

 

END

 

 

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