RCS - Intnl. Biotechnology - Pfizer agrees to acquire portfolio company Metsera

International Biotechnology TrustAnnouncement

22/09/2025 14:45

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250922:nRSV2918Aa&default-theme=true

RNS Number : 2918A  Intl. Biotechnology Trust PLC  22 September 2025

INTERNATIONAL BIOTECHNOLOGY TRUST PLC ("IBT")

Pfizer agrees to acquire portfolio company Metsera

 

IBT notes the announcement this morning
(https://www.businesswire.com/news/home/20250922965053/en/Pfizer-to-Acquire-Metsera-and-its-Next-Generation-Obesity-Portfolio)
regarding Pfizer and Metsera's definitive agreement under which Pfizer will
acquire Metsera, a clinical-stage biopharmaceutical company accelerating the
next generation of medicines for obesity and cardiometabolic diseases, for
$47.50 per share in cash and a potential further $22.50 per share in cash tied
to three specific clinical and regulatory milestones.

In aggregate, this offer represents up to a 110% premium on Metsera's closing
share price of $33.32 on Friday 19 September.  Metsera represents 1.1% of
IBT's NAV as at 19 September, as included in IBT's regular daily NAV update
(https://www.londonstockexchange.com/news-article/IBT/net-asset-value-s/17242226)
earlier this morning.

Commenting on the news, Ailsa Craig and Marek Poszepczynski, portfolio
managers of IBT, said:

"This 31st M&A deal for a holding in our portfolio since 2020 reinforces
why identifying potential acquisition targets is a core part of our investment
strategy: Biotech M&A continues to be an attractive route for large
pharmaceutical companies to replenish their patent expiry pipelines in the
coming years. Pfizer's agreement to acquire Metsera highlights big pharma's
ongoing enthusiasm for obesity related therapies as a key theme driving
returns for biotech investors."

The updated valuation of IBT's holding in Metsera will be included in IBT's
NAV as at close of business today, to be reported in the usual way tomorrow
morning, 23 September.

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

 

 

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  NRALTMJTMTJTBIA



            Copyright 2019 Regulatory News Service, all rights reserved