International Biotechnol... Share Discussion Threads

[melloteam] 15/5/2022 22:23

Mello2022, the popular three-day Investor event takes place on 24TH-26TH MAY at the Clayton Hotel & Conference Centre, Chiswick, W4. The breakdown of the three days is as follows:

Tuesday 24th May, 9am - 6pm - Mello Investment Trusts and Funds (WE ARE GIVING AWAY 20 FREE TICKETS TO THE TRUST AND FUNDS EVENT - THE FREE CODE IS FIRST20TF)

Wednesday 25th & Thursday 26th May, 9am - 6pm - Smaller Growth and Mid-Cap Companies (Tickets for 1 day are £115 and tickets for 2 days are £189. To get 50% off, use code MMTADVFN50).

Just to let shareholders and prospective investors know that IBT will be among the Trusts and Funds attending. There will also be keynote speakers such as Lord John Lee, Andy Brough, Rosemary Banyard, Clarke Carlisle and Gervais Williams.

For more information, please visit the event webpage:

[speedsgh] 10/5/2022 19:23

$IBT 4.1% of the latest NAV for #IntlBiotechTrust is in Biohaven $BHVN which has just agreed an $11.6bn cash bid from Pfizer $PFE. This adds ca.$3.0m/£2.4m to valuation. Uplift on last night's NAV is ca.3%.

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From IBT website...

Top 10 Quoted Investments (as at 28/2/22) -

5.1% of NAV - Horizon Therapeutics
5.0% of NAV - Neurocrine Biosciences
5.0% of NAV - Incyte
4.5% of NAV - Ultragenyx
4.5% of NAV - Illumina
4.3% of NAV - Amgen
4.1% of NAV - Biohaven Pharmaceuticals
4.1% of NAV - Mirati Therapeutics
4.1% of NAV - PTC Therapeutics
3.0% of NAV - Argenx

[speedsgh] 04/5/2022 08:11

Half Year Report -

SUMMARY
In the first six months of the year the Fund Manager produced strong relative performance, albeit against a weak biotechnology market. For the six months ended 28 February 2022, the NAV per share returned -13.1%. By comparison, the NBI returned -23.0%. Over the same period, the ordinary share price of the Company returned -9.4%. Although negative returns are always disappointing, it is encouraging that IBT has substantially outperformed its comparator index over this difficult period for biotechnology shares. The Company's share price continues to outperform the NBI by 1.7% and 8.7% respectively over a 3 and 5-year period, with the 1-year period underperforming by -0.6%. All figures are on a sterling adjusted total return basis, with dividends reinvested...

OUTLOOK
The Fund Manager and Directors will continue to actively monitor the global economic and geopolitical situation and any potential impact on the biotechnology sector's prospects, financial condition and outlook.

Although the market has been shaken by the horrors of the war in Eastern Europe and its concomitant economic impact, the fundamentals of the biotech industry remain intact. The companies that the Company is invested in remain strong with innovation still continuing apace and demand for new therapies rising, as the elderly population grows and developing markets gain better access to medicines. The Company has not invested in any Russian companies.

From a broader economic perspective, the lessening impact of the pandemic should be positive for economic growth but brings with it the risk of inflation. The past months have seen volatility in the market which is likely to continue but the Directors are encouraged that valuations in the biotech sector are currently at historically low levels and share the Fund Manager's optimism for a rebound. Catalysts could include a return of M&A to the sector fuelled by a combination of cash rich big pharmaceutical companies looking to replenish their pipelines and smaller biotech companies trading at attractive valuations. The Fund Manager's active investment strategy will ensure that the Company is well placed to identify possible beneficiaries of a rebound. As a Board we have confidence that the Fund Manager will continue to seek to deliver market beating returns.

[campervan1] 11/4/2022 12:57

Can you sell them now, I want to top up!

[prokartace] 11/4/2022 08:37

Well that certainly worked!

[prokartace] 05/4/2022 11:40

Just bought shares at a discount of 13.5%

[prokartace] 04/4/2022 13:27

How has this trust widened to such a big discount? Today it is 11.5% discount against an average discount for the last 12 mths of 2.7% Asset value has recovered from 640p up to 724p but the share price hasn't moved despite the trust buying back shares. A bargain if you aren't already at your buying limit for the trust!

[melloteam] 10/3/2022 15:37

Mello Events is hosting a FREE Trusts and Funds event on Tuesday 22nd March at 1pm.


The programme is as follows:
1.00 pm Mello welcome and company presentation by Avation plc
1.30 pm Company presentation by International Biotechnology Trust
2.00 pm Annabel Brodie-Smith, Communications Director at The AIC presents on why investment companies are suitable for an inflationary environment?
2.20 pm Company presentation by Downing Renewables & Infrastructure Trust plc
2.50 pm Company presentation by VectorVest – more detailed presentation to follow on Thursday 24th March at 12 noon
3.00 pm Paul de Gruchy updates us on his investing thoughts and ideas in the current economic climate
3.20 pm Company presentation by VT Downing Listed Infrastructure Income Fund
3.50 pm MoneyMakers Jonathan & Simon analyse the investment landscape for Investment Trusts & Funds
4.10 pm Investment Trust and Funds panel featuring Annabel Brodie-Smith, Paul de Gruchy, Ed Shing and chaired by Karin Schulte

The event is free, just click here to register:

There are lots of interesting sessions and all annual pass holders and individual ticket holders will get sent the recordings 24 hours later once you have registered.

[speedsgh] 15/2/2022 07:31

Analysts back biotech & healthcare trusts as sector struggles -

[prokartace] 10/2/2022 12:26

speedsgh, many tks for posting

[speedsgh] 10/2/2022 11:51

Thanks to jonwig for highlighting this FT article on the BPCR thread.

Biotechs face cash crunch after stock market ‘bloodbath’ -

Well worth a read if you are able. One or two tasters:

Geraldine O’Keeffe, a partner at healthcare investment firm LSP, said biotech shares had been hit by a “complete bloodbath across the board”. The Nasdaq Biotechnology index has fallen more than a fifth since peaking in February 2021 vs a rise of 3 per cent and 17 per cent for the Nasdaq and S&P 500, respectively.

“I think everybody is holding their breath and waiting to see if it has bottomed out and will bounce from here,” O’Keefe added. “It can’t get much lower — but we thought that every day in January and it kept going down.”...

... Pierre Kiecolt-Wahl, co-head of equity capital markets at investment bank Bryan Garnier & Co, said that biotech had traditionally been a specialist asset class dominated by fund managers with scientific backgrounds who pored over trial data to pick stocks.

But he said that generalist funds and retail investors had increased their exposure to biotech shares, while hedge funds saw it as a “racy trade”.

“The washout in the public market is investors who maybe shouldn’t have been in the space — ‘tourists’ — going back home.”...

... In the meantime, biotech founders and investors are asking when the market rout will end and how it will affect the sector in the longer term.

“I don’t think it is the kind of bubble we saw with the [dotcom] internet bubble, where it pops and we have a decade of reckoning,” said Brad Loncar, a biotech investor.

“The next decade is going to be defined by a global competition in sciences and biotech will be at the forefront of that,” Loncar added. “Especially after Covid, all around the world governments will prioritise investing in biotech and drug development.”

Kiecolt-Wahl said there were enough long-term buyers, including well-funded venture capitalists that saw biotech as a megatrend, to keep capital flowing into the sector.

“I don’t think we have a supply of capital problem. But the terms are obviously favouring those with the capital,” he said. “The pendulum has moved to the other side, for now.”

[rogerrail] 09/12/2021 08:05

Just highlights the fact that the city is a "jobs for the boys" club creaming off their fat cat cut of the publics hard earned pennies without earning it. If they had half a clue they would have forseen the risks to the share price

[panshanger1] 09/12/2021 07:27

Questor rates this a buy in today's telegraph

[peckers56] 08/12/2021 19:39

Was at today's AGM. Raised issue re: not being allowed to buy vaccine producing stocks - was this a new type of RISK. Board members effectively said that they had underestimated the impact that the restrictions due to Kate'e "extracurricular" activities would have on the share price In mitigation, they said who could have predicted that Moderna would increase 500% during the period covered. IMO, the answer as to who is SV.

[speedsgh] 08/12/2021 16:55

Full year dividend of 31.40p for FY22, an increase of 10.6% (FY21: 28.40p)...

Dividend Declaration -

At the Annual General Meeting held on 8 December 2021, Shareholders approved the Company's dividend policy of making dividend payments, equivalent to 4 per cent. of the Company's Net Asset Value as at the last day of the preceding financial year (31 August), through two equal semi-annual distributions.

The Directors have today declared the first Interim Dividend for the period ending 31 August 2022 in an amount of 15.7p per Ordinary Share.

The first Interim Dividend will be payable on Friday, 28 January 2022 to holders of Ordinary Shares on the Register at the close of business on Friday, 31 December 2021 (ex-dividend Shares on the Register at Thursday, 30 December 2021).

[pugugly] 06/12/2021 09:22

Article in FT today by Kate Bingham - However looking a graph no real gains since May 2020

[speedsgh] 03/12/2021 10:57

New Hardman note...

Access to fast-growing biotechnology companies -

[melloteam] 11/11/2021 13:05

Just to let shareholders and prospective investors know that International Biotechnology Trust, Primary Bid, Downing Strategic Micro-Cap Investment Trust and Amati will be presenting at Mello Events Trusts and Funds Webinar. The event is free! Click here to register:

There will be over 200 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions. The full programme is as follows:

5.00 pm Mello welcome and introduction to company presentation by International Biotechnology Trust
5.30 pm Investment Trust presentation Paul de Gruchy
6.00 pm Company presentation by Primary Bid
6.30 pm MoneyMakers Jonathan Davis and Simon Elliott
7.00 pm Company presentation by Downing Strategic Micro-Cap Investment Trust
7.30 pm Deborah Fuhr presents on ETFs
7.45 pm Company presentation by VectorVest
8.00 pm Company presentation by Amati
8.30 pm Investment Trusts panel featuring Mark Bentley, Ed Shing, Simon Elliott, Jonathan Davis, Karin Schulte

[prokartace] 02/11/2021 16:07

where does the information for this 150,000 share purchase come from?

[speedsgh] 01/11/2021 22:45

Was mentioned in Interim Results released in April this year after Kate Bingham had ended her 6-month secondment to the UK Vaccine Taskforce but can't currently see any mention prior to that."Kate Bingham, who represents the investment manager of the unquoted portfolio with over 50 dedicated investment professionals, spent six months as Chair of the UK Vaccine Taskforce, reporting to the Prime Minister. On 8 December 2020 the UK started Covid-19 vaccinations - the first Western country to do so. We are incredibly proud of what Kate achieved in that role and the contribution she has made as in the fight against the Covid-19 pandemic. Since her appointment, the Company has not invested in companies that create Covid-19 vaccines to avoid a perceived conflict of interest."

[rogerrail] 01/11/2021 17:06

Did they RNS this key information when it occured?

[rogerrail] 01/11/2021 16:41

Dont understand how IBT agreed to this, how can they invest in biotech but be barred from investing in vaccine producers?

[speedsgh] 01/11/2021 15:07

Annual Financial Report -

The twelve month period to the end of August 2021 has almost been as dramatic as the previous twelve months, with lockdowns giving way to double vaccinations as the prime means of controlling COVID-19. Over that period the Company's NAV per share and share price have returned 9.8% and 3.8% respectively whilst the Nasdaq Biotechnology Index (NBI) and the FTSE All-Share index returned 22.8% and 26.9% respectively. All figures are on a total return basis*, including costs and assuming dividends reinvested, and are sterling-adjusted.

Whilst this is a disappointing outcome, as discussed below there has been a short-term factor impacting relative performance and the Board remains confident that the Investment Managers will outperform in the future. Longer term performance remains good in what has historically been a volatile sector with five year annualised returns of 10.3% and 12.3% on the NAV and share price respectively...

... The main reason for the 2020/21 underperformance was that the Company was prevented from investing in vaccine producing companies due to an agreement made between the Manager, SV Health Managers LLP and the UK Government when Kate Bingham was working as the Chair of the Vaccine Taskforce for the United Kingdom. This agreement was entered into to ensure that neither SV nor its clients were seen to benefit from Kate Bingham's privileged access to information contained in the government contracts with the named vaccine suppliers.

These COVID-19-vaccine stocks have performed extraordinarily well and have outperformed hugely the average of the other biotechnology stocks contained within the NBI. The overall performance of the Company's NAV on a like-for-like basis would have outperformed the NBI if we measured both returns excluding the COVID-19-vaccine producing companies. Further details on this can be found in the Fund Manager's Review.

The Board is very proud of the outstanding contribution of Kate Bingham in helping to secure a leading supply of vaccines for the UK...

[speedsgh] 29/10/2021 12:53

Mention of IBT in this IC article earlier this week...

Get a boost from lucrative health technology -

[speedsgh] 29/10/2021 12:20

Publication of Final Results should be due any time (last year 2 Nov). In the meantime from IBT Investment Managers' Blog...

Pandemic provides launchpad for multi-year biotech boom (24/9/21) -