BB Biotech - Positive trial news lifts two portfolio holdings
In our last BB Biotech (BION) review note, published in May 2024, we noted that the biotech sector was eagerly awaiting some key milestones, the most important being Alnylam Pharmaceuticals’ late-stage clinical trial of vutrisiran for patients with ATTR cardiomyopathy, a deadly heart disease. Alnylam, which comprised 4.3% of BION’s portfolio at end March 2024, released very positive, statistically significant, Phase III trial results this week. Assuming regulatory clearance, Alnylam expects that vutrisiran has the potential to become the new standard of care for the treatment of this disease, driving substantial future growth for the company. These results may have favourable implications for sentiment across the broader global biotech sector, and for Ionis Pharmaceuticals, BION’s largest portfolio position, which is also developing gene-silencing technology.Co.'s principal activity is to invest in biotechnology companies globally. The investments are held through its wholly-owned subsidiaries: Biotech Focus N.V., Biotech Invest N.V., Biotech Target N.V., and Biotech Growth N.V., all of which are located in Curacao. Co. acquires holdings in companies in the biotechnology growth market. The focus of the holdings is on quoted companies that are concentrating on the development and marketing of innovative medicines. For the selection of holdings, Co. relies on fundamental analysis by physicians and molecular biologists.
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