For immediate release

22 December 2025

THE BIOTECH GROWTH TRUST PLC

("BIOG" or the "Company")

BioMarin Pharmaceuticals to acquire BIOG portfolio company, Amicus Therapeutics.

The Company notes the announcement on Friday, 19 December 2025 that BioMarin Pharmaceuticals Inc. ("BioMarin") has entered into an agreement to acquire BIOG portfolio company, Amicus Therapeutics ("Amicus") for approximately $4.8 billion, or $14.50 per share, in cash, representing a 33% premium to Amicus' closing price on Thursday, 18 December 2025.

Amicus is a global, patient-dedicated biotechnology company focused on discovering, developing and delivering novel high-quality medicines for people living with rare diseases. The acquisition will strengthen BioMarin's commercial portfolio, adding two new treatments to the company's existing portfolio of medicines that target lysosomal storage disorders. Amicus also has U.S. rights to DMX-200, a potential first-in-class investigational small molecule for the treatment of focal segmental glomerulosclerosis (FSGS), a rare and fatal kidney disease in Phase 3 development. 

The Company's holding in Amicus represented 2.7% of the Company's net asset value at the time of the announcement.   The transaction is reflected in the Company's NAV as at close of business on 19 December 2025, which was announced earlier today.

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