Source - LSE Regulatory
RNS Number : 7805S
Intl. Biotechnology Trust PLC
13 March 2023
INTERNATIONAL BIOTECHNOLOGY TRUST PLC
("IBT" or the "Company")
Portfolio Update as at 13 March 2023
The Company notes that Pfizer Inc (NYSE: PFE) has announced that it entered a definitive agreement to acquire IBT's portfolio company Seagen Inc. (Nasdaq: SGEN) for $229 per share which represents a 32.7% premium to the closing price of Seagen Inc on 10 March 2023 of $172.61.
Prior to the announcement on 13 March 2023, IBT owned 200,200 shares in Seagen, which is the trust's largest position representing 10.2% of IBT's Net Asset Value, as at the close on Friday 10 March 2023.
For further information contact:
Company Secretary - Link Company Matters
Indu Shastri +44 (0)7936 045789
LEI: 213800N1QUJ744P76D11
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