RCS - Intnl. Biotechnology - Acquisition of portfolio company 89Bio by Roche

International Biotechnology TrustAnnouncement

18/09/2025 17:45

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250918:nRSR9565Za&default-theme=true

RNS Number : 9565Z  Intl. Biotechnology Trust PLC  18 September 2025

INTERNATIONAL BIOTECHNOLOGY TRUST PLC ("IBT")

Acquisition of portfolio company 89Bio by Roche

 

IBT is pleased to note today's announcement
(https://www.roche.com/media/releases/med-cor-2025-09-18) 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 30(th) 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  (#_ftn1)  5-year   3-year   1-year
 IBT                                       +23.43%  +20.98%  +1.76%
 Nasdaq Biotechnology Index                +13.16%  +6.94%   -6.00%

 

To sign up for IBT updates by email, please click here
(https://www.schroders.com/en-gb/uk/individual/never-miss-an-update/) .

ENDS

 

Enquiries:

 

 Schroder Investment Management Limited

 Kirsty Preston (PR)                                                  020 7658 6000

 Natalia de Sousa (Company Secretary)                                 020 7658 6000

 Kaso Legg Communications (Financial PR)                              IBT@kl-communications.com (mailto:IBT@kl-communications.com)

 Charles Gorman

 Henry Taylor

 Effie Aye Maung Hider

 

 

 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.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAFZGMLVRVGKZM