RCS - Intnl. Biotechnology - Portfolio company Day One acquired by Servier

International Biotechnology TrustAnnouncement

09/03/2026 08:45

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RNS Number : 8602V  Intl. Biotechnology Trust PLC  09 March 2026

INTERNATIONAL BIOTECHNOLOGY TRUST PLC ("IBT")

Servier agrees to acquire IBT portfolio company Day One Biopharmaceuticals

IBT notes the announcement
(https://servier.mediaroom.com/news-releases?item=122485) on Friday 6 March
2026 that Day One Biopharmaceuticals ("Day One") has entered into an agreement
to be acquired by Servier for $2.5 billion in cash.

Based in California, Day One is a commercial-stage biopharmaceutical company
focused on developing targeted therapies in oncology. The company's
trademarked OJEMDA therapy is the first and only FDA-approved type II RAF
inhibitor for the treatment of patients 6 months of age and older with
relapsed or refractory paediatric low-grade glioma, the most common form of
childhood brain tumour.

Under the terms of the agreement, Day One shareholders will receive USD 21.50
per share in cash at closing, representing a premium of 67% to the closing
share price on 5 March. As at close of business on 5 March, Day One
represented 1.8% of IBT's Net Asset Value, as included in IBT's daily NAV
update
(https://www.londonstockexchange.com/news-article/IBT/net-asset-value-s/17491942)
on 6 March.

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

"Nine of IBT's portfolio companies were acquired in 2025, and this first deal
of 2026 for our portfolio shows that the wave of M&A in the biotech sector
is set to continue at pace. Our investment process, which examines
biotechnology companies through the same lens as pharmaceutical business
development departments, enables us to identify potential acquisition targets,
delivering significant upside for shareholders. The patent cliff facing major
pharmaceutical companies remains a significant driver of M&A activity and
we expect this period of dealflow to continue for the foreseeable future,
creating more opportunities for IBT to take advantage."

The updated valuation of IBT's holding in Day One will be included in IBT's
NAV as at close of business on Friday 6 March, to be reported in the usual way
today.

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

 

 

 

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