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Intnl. Biotechnology (IBT)

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Wednesday 24 December, 2008

Intnl. Biotechnology

Portfolio Update

RNS Number : 7956K
Intl. Biotechnology Trust PLC
24 December 2008

24 December 2008


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

On 23 December 2008, portfolio company Archemix announced a worldwide strategic alliance with GlaxoSmithKline to discover, develop and commercialise aptamer therapeutics to treat inflammatory disease. The terms of the deal provide for a $27.5m upfront payment with a further $200m in milestone-dependent tranches and tiered royalties on worldwide sale if any products result from the alliance. The valuation of the holding in Archemix, totalling £1.2 million (representing 1.1 % of net asset value), has not been changed at this point.



Kate Bingham/David Pinniger

SV Life Sciences Managers LLP          

Investment Manager                                         Tel: 020 7421 7070

Louise Richard

Schroder Investment Management Limited        Tel: 020 7658 6501

This information is provided by RNS
The company news service from the London Stock Exchange