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| TIDM | IBT |
| Share Price | 1,120.00p-0.45% |
| Market Cap | £463.50m |
INTERNATIONAL BIOTECHNOLOGY TRUST PLC ("IBT")
Acquisition of portfolio company 89Bio by Roche
IBT is pleased to note today's announcement of Roche's (SWX: ROG) acquisition of 89Bio (NASDAQ: ETNB) for up to $3.5bn, representing a premium of approximately 80% to 89Bio's closing share price on 17 September 2025.
89Bio is a holding in IBT, representing 0.5% of IBT's net asset value (NAV) as at 17 September 2025.
Commenting on the news, Ailsa Craig and Marek Poszepczynski, portfolio managers of IBT, said:
"This acquisition is the 30th M&A deal for holdings in our portfolio since 2020 and shows the continued effectiveness of our strategy of identifying potential acquisition targets. With large pharmaceutical companies facing major patent expiries in the coming years, M&A activity in the biotech sector is likely to remain strong for the foreseeable future, creating further opportunities to drive returns for shareholders."
The updated valuation will be included in IBT's NAV as at close of business on 18 September 2025, expected to be reported in the usual way on 19 September.
As at IBT's most recent financial year-end, 30 August 2025, IBT has outperformed its benchmark Nasdaq Biotechnology Index (NBI) index (as follows), as well as IBT's biotech peer group, over the past one, three and five years.
|
NAV total return performance[1] |
5-year |
3-year |
1-year |
|
IBT |
+23.43% |
+20.98% |
+1.76% |
|
Nasdaq Biotechnology Index |
+13.16% |
+6.94% |
-6.00% |
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ENDS
Enquiries:
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Schroder Investment Management Limited Kirsty Preston (PR) Natalia de Sousa (Company Secretary)
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020 7658 6000 020 7658 6000
|
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Kaso Legg Communications (Financial PR) Charles Gorman Henry Taylor Effie Aye Maung Hider |
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[1] Source: Morningstar, Schroders, as at 30 August 2025. in GBP, net income reinvested, net of the ongoing charges. Benchmark: the benchmark is the NASDAQ Biotechnology Index (NBI) total return in sterling with dividends reinvested. Performance of the trust is calculated on a total return basis, after reinvesting the net dividend on the date that the share price goes ex-dividend.