Portfolio Update

RNS Number : 7687J

Intl. Biotechnology Trust PLC

10 August 2012

 



INTERNATIONAL BIOTECHNOLOGY TRUST PLC

Portfolio Update

The Board of International Biotechnology Trust plc notes the following follow on investments and changes in valuation to the unquoted portfolio during July 2012:

Follow on investments of £32k and £45k in Reshape Medical and Ricerca.

Celerion, a £0.2m increase in value to £1.02m which reflects an improvement in the company's profitability and the rating of comparable companies in the Manager's EBITDA model Archemix, a £0.1m increase in value to £250k which reflects the valuation of escrow amounts from the deal signed with Baxter which are likely to be paid within six months.  A £0.9m increase in value of an unquoted which cannot be named due to sensitive business development discussions which are on-going.  Ricerca, a £0.3m reduction in value to £0.7m which reflects a slight worsening of the company's performance in the Manager's revenue valuation model.  These changes added £0.9m to Net Asset Value.

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

10 AUGUST 2012

 

END

 

 

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