INTERNATIONAL BIOTECHNOLOGY TST PLC

M&A Activity • Mar 13, 2023

National Storage Mechanism | Additional information

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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