Agronomics Regulatory News (ANIC)

23 April 2018

Port Erin Biopharma Investments Limited

(the "Company")

Net Asset Value calculation to 31 March 2018

Jim Mellon, Chairman, commented: -

"The Net Asset Value ("NAV") calculation for the Company as at closing on 31 March 2018 was 8.27 pence per share, including un-invested cash of £502,705. The portfolio is valued under IFRS at bid price.

Net Assets stand at £2.0 million including investments of £1.2 million. This quarter's NAV represents a decrease of 6.0% from the previous valuation of 8.80 pence per share, which included un-invested cash of £603,123. No management fee is due to Shellbay Investments Limited.

Of our quoted investments, Regent Pacific Group Limited published its annual financial results in March 2018. The European launch of Fortacin™, the first European Union approved topical prescription treatment for premature ejaculation that does not act on the central nervous system, in February and March this year and subsequent global launches are expected to generate long-term recurring royalty revenues from their commercial sales partners, further fueling future growth. This month, Summit Therapeutics plc, announced the completion of ezutromid dosing in patients with Duchenne muscular dystrophy ('DMD') for the full 48-week PhaseOut DMD clinical trial. They expect top-line data from the full trial to be available in the third quarter of 2018. In March 2018, SalvaRX Group plc announced that two of its investee companies, iOx Therapeutics and Intensity Therapeutics - both developing cancer immunotherapy treatments - have been granted additional patents and are moving towards commencing clinical trials.

Our holdings in unquoted companies continue to show promise and we have subscribed for warrants in support of our holding in AgeX Therapeutics, Inc., an early stage operation focused on the emerging field of interventional gerontology. Cytox Limited announced in March 2018 that it had been awarded a further £0.8 million funding from Innovate UK to continue Alzheimer's disease research testing. Finally, Insilico Medicine, Inc. has been listed as one of the companies in the "AI Top 100" of most promising artificial intelligence companies in the world for its work in using AI to extend healthy longevity through innovative solutions for drug discovery and aging research.

Thus, the Company's investment portfolio continues to show significant growth prospects for 2018 and beyond".

Portfolio Details

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