Port Erin Biopharma Investments Ltd Net Asset Value(s) (9337U)
18 Julio 2018 - 01:00AM
UK Regulatory
TIDMPEBI
RNS Number : 9337U
Port Erin Biopharma Investments Ltd
18 July 2018
18 July 2018
Port Erin Biopharma Investments Limited
(the "Company")
Net Asset Value calculation to 30 June 2018
Jim Mellon, Chairman, commented: -
"The Net Asset Value ("NAV") calculation for the Company as at
closing on 30 June 2018 was 8.40 pence per share, including
un-invested cash of GBP555,293. The portfolio is valued under IFRS
at bid price.
Net Assets stand at GBP2.0 million including investments of
GBP1.2 million. This quarter's NAV represents an increase of 1.57%
from the previous valuation of 8.27 pence per share, which included
un-invested cash of GBP502,705. No management fee is due to
Shellbay Investments Limited.
Regent Pacific Group Limited value increased by 21% in the
period under review, following the positive annual financial
results published in March 2018 highlighting the news regarding the
global launches of Fortacin(TM).
As previously announced in June 2018, we disposed of
approximately half of our holding in Summit Therapeutics plc before
the announcement of the failure of their clinical trial to meet
primary or secondary endpoints. This sale generated GBP118,701.67
net cash to add to our reserves.
Insilico Medicine Inc, a Baltimore based next generation
artificial intelligence company, specializes in the application of
deep learning for target identification, drug discovery and aging
research. In June 2018, Insilco announced that it has entered into
a collaboration agreement with WuXi AppTec, a leading global
pharmaceutical and medical device open-access capability and
technology platform, to potentially improve the efficiency of drug
discovery and increase productivity.
AgeX Therapeutics, Inc announced in May 2018 the award of a
grant of approximately US$386,000 from the National Institute of
Neurological Disorders and Stroke of the National Institutes of
Health. The grant provides funding for continued development of the
company's technologies for addressing age-related degenerative
diseases. In June 2018, AgeX announced it had closed a US$5 million
equity financing through the sale of common shares to Juvenescence
Limited.
Our other holdings in unquoted companies continue to show
promise. In particular, Cytox Limited announced in May 2018 that it
has launched a collaboration agreement with Mayo Clinic to evaluate
novel genetic based approaches for assessing Alzheimer's risk."
Unaudited to
30 June 2018 GBP
Fixed Assets
Investments 1,174,946
Current Assets
Loan receivable 226,584
Sundry Debtors 14,480
Uninvested cash 555,293
Current Liabilities
Creditors: amounts due (23,759)
-----------------
1,947,544
Capital and Reserves
Share Capital 23
Share Premium 1,890,142
Reserves 57,379
-----------------
1,947,544
Shares in Issue 23,195,558
Net Asset Value per share 8.40 pence
Portfolio Details
Investments as at 30 June 2018 Value % of Total Portfolio
Regent Pacific Group Limited GBP465,974 39.66%
Summit Therapeutics plc GBP21,338 1.82%
SalvaRX Group plc GBP54,444 4.63%
Other quoted holdings GBP35,090 2.99%
Other unquoted holdings GBP598,100 50.90%
Total GBP1,174,946 100.00%
For further information, please contact:
Port Erin Biopharma Beaumont Cornish Limited Optiva Securities
Investments Limited Limited
The Company Nomad Broker
Denham Eke Roland Cornish/James Biddle Jeremy King/Ed McDermott
+44 (0) 1624 639396 +44 (0) 207 628 3396 +44 (0) 203 137 1904
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END
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