M&A activity boosts International Biotechnology trust

Recent merger and acquisition activity has boosted the International Biotechnology trust (IBT), desp...

Recent merger and acquisition activity has boosted the International Biotechnology trust (IBT), despite difficulties in the sector, according to the company. Andy Smith, investment manager at IBT, said M&A continues to be the preferred exit route for both the quoted and unquoted sector, which had been beneficial to the trust. The vehicle, which invests in high growth, development stage biotechnology companies has been boosted in the past six months by positive contributions from both areas. As a result of the activity, the trust has seen net assets rise by £6.2m as a result, he added....