Schroders Capital Global Innovation Trust (INOV ) has received a cash boost after its holding in Carmot Therapeutics was sold to Swiss pharmaceutical giant Roche at a 221% premium.

The former Woodford Patient Capital invested $1.7m into the clinical-stage biotech company last May as part of its $150m Series E funding round. It saw $5.6m (£4.5m) in return following the $2.7bn sale in December to Roche which could also be on the hook for $400m in future milestone payments.

This is a big uplift to the £1.4m value of the stake in Carmot in September but only lifts the investment trust’s net asset value (NAV) per share from 23.89p to 24.51. The shares added 0.25p to 12.75p after the announcement on Tuesday but are off 0.5p today at 12.9p, 87% below their 100p launch in 2015 at a 45% discount to NAV.

The trust’s board aims to narrow the wide discount, which reduces INOV’s £205m NAV to a market value of £113m market value, selling £24.5m of investments in September to fund share buybacks.