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BB Biotech AG

 
Documents

ISIN-No.: CH0038389992

YTD: -13.26%

Active share: 78.16

Anzahl Positionen: 23

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: 22.05.2025)

Share price: CHF 29.05 (22.05.2025)

NAV: CHF 33.70 (22.05.2025)


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

Rolling performance (22.05.2025)

Share PriceNAVBenchmark
22.05.2024 - 22.05.2025-25.20%-17.70%-15.96%
22.05.2023 - 22.05.2024-0.77%6.06%9.46%
20.05.2022 - 22.05.2023-17.29%3.95%5.97%
20.05.2021 - 20.05.2022-25.83%-28.16%-15.69%

Annualized performance (22.05.2025)

Share PriceNAVBenchmark
1 year-25.20%-17.70%-15.96%
3 years-15.01%-3.19%-1.26%
5 years-11.45%-7.02%-2.72%
10 years-2.21%-2.01%0.12%
Since Inception p.a.8.93%9.41%8.23%

Cumulative performance (22.05.2025)

Share PriceNAVBenchmark
1M6.61%6.14%6.33%
YTD-13.26%-15.43%-13.33%
1 year-25.20%-17.70%-15.96%
3 years-38.60%-9.26%-3.73%
5 years-45.57%-30.52%-12.87%
10 years-20.07%-18.36%1.24%
Since Inception1'384.98%1'606.45%1'109.98%

Annual performance

Share PriceNAVBenchmark
2024-13.53%2.97%7.56%
2023-18.15%-7.39%-4.79%
2022-24.29%-11.00%-9.09%
20218.34%-11.45%2.98%

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 (30.04.2025, base currency CHF)

Beta1.29
Volatility31.36
Tracking error14.42
Active share78.16
Correlation0.91
Sharpe ratio0.04
Information ratio0.01
Jensen's alpha-0.08
No. of positions23

Positions

Argenx
Ionis Pharmaceuticals
Alnylam Pharmaceuticals
Neurocrine Biosciences
Vertex Pharmaceuticals
Revolution Medicines
Incyte
Agios Pharmaceuticals
Scholar Rock Holding
Celldex Therapeutics
Rivus Pharmaceuticals, Inc.
Akero Therapeutics
Biohaven Ltd
Beam Therapeutic
Moderna
Immunocore
Wave Life Sciences Ltd.
Edgewise Therapeutics Inc
Relay Therapeutics
Esperion
Macrogenics
Annexon Inc
Black Diamond Therapeutics
16.2%
11.3%
9.8%
9.6%
9.2%
7.4%
6.0%
4.9%
3.8%
2.7%
2.6%
2.4%
2.3%
2.2%
2.0%
1.7%
1.6%
1.5%
0.9%
0.7%
0.6%
0.5%
0.2%

Market capitalization

0 - 500mn
1 - 5 bn
5 - 30 bn
> 30 bn
5.5%
34.4%
25.0%
35.2%

Breakdown by sector

Small Molecule
Biologics
RNA
Gene- and cell therapy
45.7%
27.4%
24.6%
2.2%

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 April BB Biotech´s share price declined by 3.3% in CHF and the Net Asset Value increased by 3.4% in USD. The Nasdaq Biotech Index was positive by 0.4% in USD in April.   
 
BB Biotech reported its first quarter results on April 25th. First quarter of 2025 was characterized by the elevated volatility across global financial markets, driven by increasing political uncertainty and evolving trade policies. Against the turbulent macroeconomic backdrop, the biotech sector faced a particularly challenging quarter. Healthcare policy uncertainties coupled with sustained market volatility continued to weigh heavily on the industry.
 
BB Biotech remains focused on its mission: to invest in companies developing breakthrough therapies that can transform patient outcomes. We remain committed to innovation while recognizing that the sector’s fragile structural recovery requires heightened awareness of emerging risks.
 
BB Biotech reported a net loss of CHF 241 mn for the quarter and a payout of nearly CHF 100 mn in dividends in March compared to a net profit of CHF 260 mn in the first quarter last year.
 
In the first quarter we initiated a new position in Akero Therapeutics following the company’s breakthrough Phase II results in patients with cirrhotic MASH. On the exit side, we closed our positions in Intra-Cellular, Fate Therapeutics, Sage Therapeutics and Arvinas.
 
The full quarterly report can be read here: https://report.bbbiotech.ch/Q125/en
 
Please find below selected highlights from a few of BB Biotech´s portfolio companies:
 
Revolution Medicine (+14.2%, in USD) announced on April 27 new clinical data for zoldonrasib in patients with KRAS G12D mutant non-small cell lung cancer. The results demonstrated acceptable safety and tolerability and encouraging initial antitumor activity in patients with non-small cell lung cancer.
 
Argenx (+9.0%, in USD) announced on April 10 that the FDA approved a new option to self-inject Vyvgart Hytrulo with a prefilled syringe for the treatment of adult patients with generalized myasthenia gravis. On April 28 Argenx announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has recommended European Commission (EC) approval of Vyvgart for the treatment of adult patients with progressive or relapsing active chronic inflammatory demyelinating polyradiculoneuropathy (CIPD) after prior treatment with corticosteroids or immunoglobulins.

Alnylam (-2.5%, in USD) announced April 28 that the Committee for Medicinal Products for Human Use (CHMP) recommends approval of Vutrisiran for the treatment of ATTR-CM (hereditary transthyretin amyloidosis in adult patients with cardiomyopathy). Vutrisiran is currently approved in the European Union under the brand name Amvuttra for the treatment of hATTR (hereditary transthyretin-mediated amyloidosis with polyneuropathy).

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ESG

  • Head 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.

  • Deputy Head 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

    Anna Guinot Aguado

    Dr. Anna Guinot Aguado joined Bellevue Asset Management in 2024. She previously worked at Nextech Invest, a European Biotech VC focused on oncology, where she gained investment experience in both private and public markets. Before her time at Nextech, Anna completed a PostDoc at the University Children's Hospital Zurich (Kispi) in the Oncology division and at the institute of physiology at the University of Zurich. She holds a PhD in Stem Cell & Cancer Biology from the University of Cambridge, after studying Biochemistry in Valencia and Molecular & Cell Biology in Paris.

  • 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.

  • Data Scientist

    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.

  • Data Scientist

    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.

  • Data Scientist

    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.
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