**Summary**
International Biotechnology Trust PLC (the "Company") has entered into a partnership agreement with Schroders Capital to invest in unquoted biotechnology opportunities. The Company will initially commit £10 million (approximately 4% of its current portfolio value) to the partnership, which will be allocated to funds investing in early-stage, unquoted biotechnology companies. This move aims to provide shareholders with access to a diversified portfolio of innovative companies, managed by experienced biotechnology investment managers across North America, Europe, and Asia.
Schroders Capital, with over 25 years of experience in healthcare and biotechnology, has committed more than $4.3 billion across nearly 700 investments globally. The partnership will leverage Schroders Capitals expertise and network to identify and invest in high-potential biotechnology opportunities. Under the agreement, Schroders Capital will receive a management fee of 0.9% per annum based on the asset value of the Companys investment, plus £25,000 annually for administration costs, capped at 0.25% of the Companys net asset value per year.
The Companys existing unquoted exposures, currently at 8.4% of portfolio value and primarily held in funds managed by SV Health Partners, will remain outside this new partnership. This agreement aligns with the Companys investment policy of achieving long-term capital growth through a diversified portfolio, with a focus on the biotechnology sector.