Xenova Group plc
16 May 2004
Notification of interest
This notification relates to issued ordinary shares of 1p each in the
capital of the Company (the "shares"), American Depository Receipts
each representing 10 ordinary shares (the "ADRs") and warrants to
purchase ADRs (the "warrants"), and is being given in fulfillment of
the obligations imposed by sections 198 to 202 of the Companies Act
1985 (the "Act").
1. We hereby notify the Company that:
1.1 between February 4, 2004 and February 23, 2004, funds
managed by OrbiMed Advisors LLC acquired 117,400 ADRs in the company.
1.2 Orbimed Advisors LLC ("orbiMed") has certain investment
management discretion over the securities acquired by the entities
set forth in 1.1 above and as listed below:
Winchester Global Trust Company Limited as Trustee for Caduceus
Cadeceus Capital II, L.P.
UBS Eucalyptus Fund, L.L.C.
UBS Eucalyptus Fund, Ltd
HFR SHC Aggressive Master Trust
Knightsbridge Post Venture IV L.P.
Knightsbridge Integrated Holdings, V, LP
Knightsbridge Netherlands II L.P.
Knightsbridge Integrated Holdings IV Post Venture, LP
Knightsbridge Post Venture III, LP
Knightsbridge Netherland I LP
Knightsbridge Netherlands III - LP
Knightsbridge Integrated Holdings II Limited
Knightsbridge Venture Capital IV, L.P.
Knightsbridge Venture Capital III L.P.
1.3 Samule D. Isaly ("Isaly") is the founder and Managing
Member of OrbiMed.
1.4 immediately after the time when the obligation to make
this notification arose, Orbimed and Isaly were each interested in
2,462,800 ADRs and 630,000 warrants.
2. The shares, ADRs and warrants to which this notification
relates are registered in the name of the entities set forth in 1.2
OrbiMed Advisors LLC, for itself and on behalf on Samuel D. Isaly
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