RNS Number : 7687J
Intl. Biotechnology Trust PLC
10 August 2012
INTERNATIONAL BIOTECHNOLOGY TRUST PLC
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.
Kate Bingham/David Pinniger
Telephone: 020 7412 7070
SV Life Sciences Managers LLP
Telephone: 0141 225 3009
BNP Paribas Secretarial Services Limited
10 AUGUST 2012
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