The Biotech Growth Trust PLC seeks capital appreciation through investment in the worldwide biotechnology industry, principally by investing in emerging biotechnology companies. The Company invests in a diversified portfolio of biotechnology (including emerging biotechnology companies) and related securities on a worldwide basis. As of March 31, 2009, the Company’s top 10 investments included United Therapeutics, Onyx Pharmaceuticals, BioMarin Pharmaceutical, Shire, Life Technologies, OSI Pharmaceuticals, Medivir, Cephalon, Intermune Inc and Gen-Probe. OrbiMed Capital, LLC is the Company’s investment manager.