BB Biotech

BB Biotech AG
Company typeAktiengesellschaft
SIX: BION[1]
FWB: BBZA[2]
IndustryInvestment company
Founded9 November 1993 (9 November 1993)[3]
HeadquartersSchaffhausen, Switzerland[4]
Key people
Thomas von Planta
(Chairman)[5]
ProductsInvestment in biotechnology companies
ServicesInvestment company
Increase CHF –206.6 million
(2023)[6]
Total assetsIncrease CHF 2.637 billion
(2023)[6]
Websitewww.bbbiotech.ch

BB Biotech AG is a Swiss investment company in the field of biotechnology. The company invests mainly in the United States and Western Europe[7] and is managed by Bellevue Asset Management, a division of Bellevue Group, which is listed on the Swiss Stock Exchange.[8]

It is one of the largest investment companies in the biotech sector.[9][10]

History

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BB Biotech was founded as an Aktiengesellschaft on November 9, 1993 in Schaffhausen, Switzerland.[3][11] The company's shares have been traded on the SIX Swiss Exchange since December 27, 1993,[11][12] and since December 10, 1997 on the German Deutsche Börse in Frankfurt.[12][13] BB Biotech was listed on the TecDAX from 2003 to June 2012,[13] and returned to it again between September 2012 and June 2015.[14] The shares were listed on the Italian Nuovo Mercato from October 19, 2000 to September 4, 2023,[15][16] since September 2005 in the Star segment (TechStar).[14]

Investment activities

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Investment area

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As a closed-end fund, with its principal activity of specialised investments in companies operating in the biotech sector,[7][17] BB Biotech is the oldest established and largest entity of its kind.[8][18] Primary focus lies on small-to-mid-cap biotech companies headquartered in Western Europe[19] and especially the United States market.[20][21]

The biotechnology companies in which BB Biotech invests are active, for example, in the fields of oncology, the development of drugs for the treatment of neurological disorders, metabolic diseases, cardiovascular diseases infectious diseases and autoimmune diseases.[10][17][22] BB Biotech further concentrates on firms developing therapeutic products[7] involving cell, gene and particularly RNA-based technologies.[8]

In contrast to other biotech specialists or hedge funds, Biotech is a long-only investor and does not need to rely on financial instruments to reduce individual stock or market risk.[8] It targets biotechnology firms which either have previously established products in the marketplace[23] or promising drug candidates in advanced development stages.[24]

Companies and core investments

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While benchmarked against the Nasdaq Biotech index (in CHF),[25][26] the company uses a bottom-up approach[24] based on the fundamental analysis.[8] Its portfolio comprises around 35 companies.[17]

The portfolio usually includes five to eight core holdings, which account for around 70% of the total value, as well as around two dozen smaller holdings. In addition, up to 10% may be held in non-listed companies (Private equity).[3]

The core investments in the BB Biotech portfolio as of June 30, 2024 included Ionis Pharmaceuticals (13.0%), Argenx (9.8%), Neurocrine Biosciences (8.6%), Vertex (8.1%), Alnylam Pharmaceuticals (7.3%), Revolution Medicines (6.4%), Moderna (6.1%), Intra-Cellular Therapies (5.6%) and Agios Pharmaceuticals (5.5%).[27][21]

Company structure

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The Chairman of the Board of Directors since 2024 is Thomas von Planta; the Vice Chairman is Clive A. Meanwell.[5]

Bellevue Asset Management AG, which belongs to the Swiss Bellevue Group and is based in Küsnacht ZH,[28] is commissioned with the areas of fundamental analysis, portfolio management, marketing and administration.[29] The investment management team has been headed by Daniel Koller, who joined Bellevue in 2004, since 2010.[30]

BB Biotech's equity capital in the individual biotech companies is invested indirectly via the wholly owned subsidiaries Biotech Focus N.V., Biotech Invest N.V., Biotech Target N.V., Biotech Growth N.V., all of which are seated in Curaçao.[3]

Company figures

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Company figures are as follows:[31][32]

(figures in millions CHF) 2023 2022 2021 2020 2019 2018 2017 2016 2015
Profit/(Loss) (207)[6] (358)[33] (405) 691[34][35] 677 (471) 688[36] (802) 653
Net asset value 2'323[6] 2'686 3'283 3'888[35] 3'393 2'885 3'539 3'003 3'978
Market capitalization 2'368[6] 3'058 4'274 4'108[37][35] 3'670 3'235 3'576 3'053 3'463

References

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  1. ^ "BB Biotech AG". Reuters. Retrieved 2021-10-20.
  2. ^ "BB Biotech AG Equity". Börse Frankfurt. Retrieved 2021-10-20.
  3. ^ a b c d AG, DV Bern. "BB Biotech AG". Official Companies Register of the Canton of Schaffhausen (in German). Retrieved 2021-10-20.
  4. ^ "BB Biotech AG". Zentraler Firmenindex (in German). Retrieved 2021-10-20.
  5. ^ a b "Board of Directors". BB Biotech. Retrieved 2024-07-01.
  6. ^ a b c d e "Annual Report 2023" (PDF). BB Biotech. 2024. Retrieved 2024-06-29.
  7. ^ a b c "BB Biotech AG". Bloomberg. Retrieved 2022-01-08.
  8. ^ a b c d e "BB Biotech AG, A leading biotech investor" (PDF). QuotedData. 2021-02-11. Retrieved 2024-07-01.
  9. ^ "Themenschwerpunkt: BB Biotech" [Main Theme: BB Biotech]. Wirtschaftswoche (in German). Retrieved 2024-06-29.
  10. ^ a b "Aktien-Rückblick: BB Biotech Boom, Boom, Biotech". Wirtschaftswoche (in German). 2021-02-12.
  11. ^ a b "BB Biotech Aktie". Boerse.de. Retrieved 2024-06-29.
  12. ^ a b "BB Biotech". Börsennews.de. Retrieved 2024-06-29.
  13. ^ a b "BB Biotech". Aktien Prognose. Retrieved 2024-07-01.
  14. ^ a b "BB Biotech AG". Investor Verlag. Retrieved 2024-06-30.
  15. ^ "Delisting from Borsa Italiana". BB Biotech. 2023-08-21. Retrieved 2023-08-31.
  16. ^ "BB Biotech geht an den Nuovo Mercato". Handelsblatt (in German). 2000-10-11.
  17. ^ a b c "BB Biotech AG, 0JYO-GB: London Stock Exchange". CNBC. Retrieved 2022-06-02.
  18. ^ "BB Biotech AG – BIOEE". Morningstar. Retrieved 2022-06-02.
  19. ^ "DGAP-News: BB Biotech AG: Disruptive technologies are changing an entire industry". Finanzen.ch. 2022-05-24. Retrieved 2022-06-02.
  20. ^ "BB Biotech AG, BION:SWX profile". Financial Times Markets. Retrieved 2024-07-01.
  21. ^ a b "Our investments". BB Biotech. Retrieved 2024-07-01.
  22. ^ "Solides Portfolio, aktionärsfreundliche Politik". Wirtschaftswoche (in German). 2022-11-04.
  23. ^ "BB Biotech AG Bearer Shares (BBAGF)". Nasdaq, Inc. Retrieved 2022-06-02.
  24. ^ a b "BB Biotech SW: BION". Edison Investment Research Limited. Retrieved 2022-06-02.
  25. ^ Kadhim Shubber (2015-08-24). "US biotech tumbles into bear market". Financial Times. Retrieved 2022-06-02.
  26. ^ Richard Evans (2021-12-09). "Questor: biotech has been shunned this year despite the vaccines triumph – so buy these trusts". The Telegraph. Retrieved 2022-06-02.
  27. ^ "Portfolio". BB Biotech. Retrieved 2024-09-02.
  28. ^ "Bellevue Asset Management AG". Handelsregister. Retrieved 2024-07-01.
  29. ^ "Investmentstrategie". BB Biotech (in German). Retrieved 2022-03-28.
  30. ^ "Daniel Koller: 'Der Biotech-Sektor steht vor einer Wiederbelebung'". Finews (in German). 2024-02-29. Retrieved 2024-06-30.
  31. ^ "BB Biotech". Finanzen.net (in German). Retrieved 2024-07-01.
  32. ^ "BB Biotech – Facts & Figures". BB Biotech. 2020-03-11. Archived from the original on 2016-03-21.
  33. ^ "Annual Report 2022". BB Biotech. Retrieved 2023-08-31.
  34. ^ "BB Biotech AG, BION:SWX financials". Financial Times Markets. Retrieved 2023-08-31.
  35. ^ a b c "BB Biotech: Facts & Figures". BB Biotech. Retrieved 2021-10-20.
  36. ^ "Annual Report 2017" (PDF). BB Biotech. 2018-02-16. Retrieved 2024-07-01.
  37. ^ "Annual Report 2020". BB Biotech. Retrieved 2021-10-20.
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