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BB Biotech AG

ISIN-No.: CH0038389992

YTD: -13.77%

Active share: 80.28

Anzahl Positionen: 31

New innovative drugs and technologies are powering sustainable momentum in the biotech sector 

Focus on profitable companies and small and mid-cap companies with strong pipelines

Attractive dividend policy; Dividend payment of 5% p.a.

Indexed performance (as at: 23.12.2024)

Share price: CHF 35.30 (23.12.2024)

NAV: CHF 42.05 (23.12.2024)


01 Jan 2010 - 01 Jan 2010
An error occurred - no data to display
Share Price
NAV
Benchmark

Rolling performance (23.12.2024)

Share PriceNAVBenchmark
23.12.2023 - 23.12.2024-9.65%2.74%6.00%
23.12.2022 - 23.12.2023-23.81%-7.65%-7.13%
23.12.2021 - 23.12.2022-22.22%-13.90%-10.46%
23.12.2020 - 23.12.20218.27%-12.28%1.71%

Annualized performance (23.12.2024)

Share PriceNAVBenchmark
1 year-9.65%2.74%6.00%
3 years-18.80%-6.51%-3.48%
5 years-7.49%-2.02%1.27%
10 years2.46%2.09%2.59%
Since Inception p.a.9.55%10.16%8.84%

Cumulative performance (23.12.2024)

Share PriceNAVBenchmark
1M-2.62%-4.86%-4.57%
YTD-13.77%3.71%6.17%
1 year-9.65%2.74%6.00%
3 years-46.46%-18.30%-10.09%
5 years-32.24%-9.71%6.51%
10 years27.53%23.02%29.19%
Since Inception1'607.07%1'932.36%1'297.42%

Annual performance

Share PriceNAVBenchmark
2023-18.15%-7.39%-4.79%
2022-24.29%-11.00%-9.09%
20218.34%-11.45%2.98%
202019.35%24.26%15.80%

Investment Focus

BB Biotech actively invests worldwide in fast growing companies developing and marketing innovative biotech drugs. At least 90% of its shareholdings must be in listed companies, while always holding more than 50% of its assets in equity investments. The target portfolio of BB Biotech will generally consist of 20 to 35 participations. Large positions will be taken in five to eight companies, the top holdings. Together they will account for no more than two-thirds of the portfolio and no single position will have a weighting greater than 25% of portfolio investments. Due to their substantial portfolio weighting, the top holdings should be generating both revenues and income. The portfolio’s smaller participations are companies with promising drug candidates in their R&D pipelines. Investments are selected according to a thorough, multi-level due diligence process, with a particular focus placed on the analysis of financial parameters, the respective competitive environment, the development pipeline, the patent portfolio, and end-client perception. ESG factors are taken into consideration while implementing the aforementioned investment objectives.Show moreShow less

Investment suitability & Risk

SRI

Low risk

High risk

The investment company’s objective is to generate attractive and competitive capital growth in the long term. It is therefore particularly suited to investors with an investment horizon of at least 5 years who want to selectively diversify their portfolio with investments in the biotechnology sector and who are willing to accept the equity risks typical of this sector.

General Information

Investment ManagerBellevue Asset Management AG
CustodianBank Julius Bär AG
Fund AdministratorBellevue Asset Management AG
AuditorDeloitte AG
Launch date09.11.1993
Year end closing31. Dec
Management Fee1.10%
ISIN numberCH0038389992
Valor number3838999
BloombergBION SW Equity
WKNA0NFN3

Legal Information

Legal formIncorporate company
SFDR categoryArticle 8

Key data (30.11.2024, base currency CHF)

Beta1.34
Volatility32.37
Tracking error15.05
Active share80.28
Correlation0.92
Sharpe ratio0.01
Information ratio0.14
Jensen's alpha2.83
No. of positions31

Positions

Argenx
Ionis Pharmaceuticals
Vertex Pharmaceuticals
Revolution Medicines
Alnylam Pharmaceuticals
Neurocrine Biosciences
Intra Cellular Therapies
Agios Pharmaceuticals
Incyte
Moderna
Celldex Therapeutics Inc
Biohaven Ltd
Arvinas
Relay Therapeutics
Essa Pharma
Exelixis
Rivus Pharmaceuticals, Inc.
Edgewise Therapeutics Inc
Immunocore
Beam Therapeutic
Black Diamond Therapeutics
Wave Life Sciences Ltd.
Macrogenics
Sage Therapeutics
Annexon Inc
Crispr Therapeutics
Scholar Rock Holding
Fate Therapeutics
Esperion
Generation Bio
Molecular Templates Inc
11.5%
10.6%
8.0%
7.5%
7.4%
7.2%
6.1%
5.6%
4.8%
3.6%
3.5%
3.5%
2.0%
1.8%
1.6%
1.4%
1.4%
1.3%
1.3%
1.3%
1.3%
1.1%
1.1%
1.1%
1.0%
1.0%
0.6%
0.6%
0.6%
0.3%
0.0%

Market capitalization

0 - 500mn
500mn - 1 bn
1 - 5 bn
5 - 30 bn
> 30 bn
7.9%
3.4%
20.5%
60.2%
8.0%

Breakdown by sector

Small Molecule
RNA
Antibody
Gene- and cell therapy
56.0%
22.8%
18.0%
3.1%

Currency

USD
100.0%

Benefits

  • Unique opportunity for European investors to access the global biotech sector, a non-cyclical growth industry that is strongly supported by increasing demand, driven by demographic trends and life style changes.
  • New innovative drugs and technologies are powering sustainable momentum in the biotech sector.
  • Focus on a diversified portfolio of profitable companies as well as small and midcap companies with strong pipelines.
  • Management Team with strong scientific and medical expertise. Renowned Board of Directors.
  • Attractive dividend policy; Dividend payment of 5% p.a.

Risks

  • BB Biotech actively invests in equities. Equities are subject to strong price fluctuations and so are also exposed to the risk of price losses.
  • Biotech equities can be subject to sudden substantial price movements owning to market, sector or company factors.
  • BB Biotech invests in foreign currencies, which means a corresponding degree of currency risk against the reference currency.
  • The price investors pay or receive, like other listed shares, is determined by supply and demand and may be at a discount or premium to the underlying net asset value of the Company.
  • BB Biotech may take a leverage of up to 15%, which may lead to even higher price movements compared to the underlying market.

In November BB Biotech´s share price increased by 2.3% in CHF and the Net Asset Value increased by 2.4% in USD. The Nasdaq Biotech Index in USD was unchanged in November.

In November, the spotlight was on the election of Donald Trump as US president. A key point of interest was Trump’s proposed appointment of Robert F. Kennedy Jr. as the Head of the Health and Human Services Department (HHS), though this nomination awaits Senate approval. Additionally, the announcement of Dr. Martin Makary as the new FDA Commissioner got attention, given the FDA's important role in drug approvals based on safety and efficacy data. As we navigate the evolving US political landscape, we are particularly focused on developments that impact the biotech industry.
 
Please find below selected highlights from a few of BB Biotech´s portfolio companies in November:
 
Argenx (+5.2%, in USD) announced on November 20 the decision to continue the development of their lead asset efgartigimod in all three subsets of myositis following the interim read-out of the Phase II. The Phase II has already been enrolling patients “at risk” to speed up the development in these high need indications.

Sage Therapeutics (-10.0%, in USD) announced on November 20 topline results from the Phase II DIMENSION study of dalzanemdor (SAGE-718) in participants with cognitive impairment (CI) associated with Huntington’s Disease (HD). In the study, dalzanemdor did not demonstrate a statistically significant difference versus placebo on the primary and secondary endpoints. Based on these results, the company does not plan to further develop dalzanemdor.

Biohaven (-7.5%, in USD) announced on November 25 an update regarding their clinical trial with taldefgrobep alfa in Spinal Muscular Atrophy (SMA). Despite some encouraging trends observed in the taldefgrobep alfa arm across multiple motor function endpoints the magnitude of effect did not turn out to be statistically different compared to placebo.
 
Scholar Rock (40.3%, in USD) share did appreciate on the back of Biohaven's taldefgrobep alpha’s failure in spinal muscular atrophy (SMA) as the company has now a competitor less. Scholar Rock’s lead asset apitegromab is set to become the first-in class myostatin agent in SMA.

We continue to believe that 2024 will include multiple catalysts for the sector and for BB Biotech’s portfolio companies, including product launches, important clinical trial results, licensing deals and M&A activity. We remain optimistic about the long-term development for BB Biotech*s portfolio companies.

Show moreShow less

  • Head Investment Management Team

    Daniel Koller

    Dr. Daniel Koller joined Bellevue Asset Management in 2004 as senior portfolio manager in the biotechnology segment specialized in cardiovascular diseases. Since 2010 he is head investment management team of the listed investment company BB Biotech AG . Before joining the company he spent four years in the financial sector, initially as an equity analyst at UBS Warburg and then as a private equity investor at equity4life. Dr. Daniel Koller studied biochemistry at the Swiss Federal Institute of Technology and earned a doctorate in biotechnology while working at Cytos Biotechnology.
  • Investment Management Team

    Christian Koch

    Dr Christian Koch has been a portfolio manager at Bellevue Asset Management since 2014. From 2013-2014 he was a sell-side Pharma & Biotech equity analyst at Bank am Bellevue in Küsnacht and from 2010-2013 a Research Associate at the Institute of Pharmaceutical Sciences at ETH Zurich. He holds a PhD in Computer-Assisted Drug Design from ETH Zurich and studied Bioinformatics from Goethe University Frankfurt.
  • Investment Management Team

    Maurizio Bernasconi

    Dr. Maurizio Bernasconi joined Bellevue Asset Management as analyst and portfolio manager in 2017. Prior he was a sell-side equity analyst in the Pharma & Biotech department of Bank am Bellevue. Maurizio Bernansconi has a master's degree in chemistry at Swiss Federal Institute of Technology (ETH), Zurich, and has PhD in organic chemistry at the University of Basel.
  • Investment Management Team

    Samuel Croset

    Dr. Samuel Croset joined Bellevue Asset Management as Portfolio Manager and Digital Transformation Lead in 2020. He previously worked for Roivant Sciences from 2018-2020 as data scientist supporting investment decisions in drug projects as well as leading a team focused on the analysis of real-world data. Prior to that, he started his professional career at Roche as data scientist in the research department (2014-2018). Samuel holds a Ph.D. in Bioinformatics from the University of Cambridge, a MS in Bioinformatics and a MS in Biochemistry from the University of Geneva.
  • Investment Management Team

    Can Buldun-Gora

    Dr. Can Buldun-Gora joined Bellevue Asset Management as Data Scientist in 2022. He is a member of the investment management team of BB Biotech. From 2018 to 2022 he was a Computational Scientist at Roche Pharma Research & Early Development, focusing on data science and software solutions for next-generation antibody engineering. Can Buldun-Gora holds a PhD in Biochemistry from the University of Oxford and a BSc in Biochemistry & Cell Biology from Jacobs University Bremen.
  • Investment Management Team

    Leonidas Georgiou

    Dr. Leonidas Georgiou joined Bellevue Asset Management as a portfolio manager in 2022. He previously worked as a biotechnology VC analyst at Hadean Ventures in Norway, covering European startups in pharma, medical device, diagnostic and digital health verticals. Leonidas studied neuroscience at the University of Glasgow and University of Toronto. He holds an interdisciplinary PhD in neuroscience from OIST in Japan where he studied neuron – glia interactions in behaving mice.
  • Investment Management Team

    Olivia Woolley

    Dr. Olivia Woolley joined Bellevue Asset Management as data scientist in 2022. She is a member of the investment management team of BB Biotech. Previously she was associate director data science at Novartis, working in Technical Research and Development. Before entering industry she was a postdoctoral researcher at the Swiss Federal Institute of Technology (ETH), Zurich, in the area of digital epidemiology and complex networks. Olivia holds a PhD and MSc in Applied Mathematics from Northwestern University and a BSc in Mathematical and Computational Science from Stanford University.
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