28 September 2021

INTERNATIONAL BIOTECHNOLOGY TRUST PLC

("IBT" or the "Company")

Compliance with the Market Abuse Regulation (MAR)

The Company announces that it is satisfied that all inside information which the Directors and the Company may have in the period leading up to the announcement of the Annual Financial Report for the year ended 31 August 2021 has been notified to a Regulated Information Service (RIS). The Company is therefore not prohibited from purchasing its own securities or re-selling treasury shares during the closed period (as defined by MAR) which ends on the date of the announcement of the Annual Financial Report.

If, in the period leading up to the announcement of the Annual Financial Report, the Directors or the Company come into possession of any inside information, this will be notified to a RIS before any such transactions are undertaken.

The closed period to which this notification relates is in respect of the year ended 31 August 2021.

For further information contact:

Company Secretary - Link Company Matters

Claire Jackson             +44 (0)7821 843993

LEI: 213800N1QUJ744P76D11