The Board of Port Erin Biopharma Investments Limited announced that Nicholas Woolard has informed the Board of his decision to stand down as a Non-Executive Director of the company with immediate effect in order to allow him to focus on other business interests. Nicholas joined the Board in May 2011 prior to the company's listing in September 2011, and has served on its Audit and Remuneration committees since that date. The Board further announced the appointment of Alexander Anderson Stuart Whamond as a Non-Executive Director of the company with immediate effect. Anderson has over 25 years' experience in the banking and financial sector. He began his career in 1983 at White Weld Securities (part of the CSFB group) before joining Salomon Brothers International in London in 1986 and then Morgan Stanley International in 1989.

Port Erin Biopharma Investments Limited reported unaudited earnings results for the six months ended December 31, 2012. For the period, the company's investment income was £72,881 against £157,241 a year ago. Profit from operating activities was £4,077 against loss from operating activities of £166,373 a year ago. Profit before taxation was £9,866 against loss before taxation of £164,844 a year ago. Profit for the period was £9,866 or £0.0003 per basic and diluted share against loss for the period of £164,844 or £0.0101 per basic and diluted share a year ago. Net cash outflow from operating activities was £86,329 against £177,265 a year ago. Purchase of investments was £532,831 against £1,809,046 a year ago. Net asset value per share as at December 31, 2012 was 9.5 pence against 8.6 pence a year ago.

Port Erin Biopharma Investments Limited announced audited earnings results for the period from May 3, 2011 to June 30, 2012. For the period, the company reported investment income of £510,515, profit from operating activities of £422,748, profit before taxation of £425,208 and profit for the period of £425,208 or £0.0181 per basic and diluted share. Net cash outflow from operating activities was £48,998.