Rothschild's exit

OXFORD - Rothschild Asset Management has decided to pull out of biotech investing, pulling the rug from under the proposed merger of Biotechnology Investments Ltd. (LSE:BIL) and the International Biotechnology Trust (LSE:IBT).

IBT Chairman Jock Green-Armytage told BioCentury that the IBT board is close to announcing the new manager of the trust, which focuses its investments on late stage and publicly traded companies. To ensure