Upward potential of portfolio further increased. The fund made a small positive net performance for the third quarter of 1,8%. Continuous poor market sentiment continued to depress share prices of our portfolio companies despite the present and expected future revenue and profit growth these innovative companies face.
Strong clinical study data delivered across the portfolio. Genetics technologies are increasingly being used in the development of innovative medicines. While in the beginning R&D in genetics companies was focused on (inborn) genetic diseases using cell, gene or RNA therapy, these technologies are now exploited in a much broader manner.
The fund’s NAV fell 6.8% in the first half of March and then rose 10.8% in the second half. It seems that sentiment for biotech stocks has at least stabilized. The first quarter was a good period to include new companies in the portfolio.
Portfolio company Dicerna Pharmaceuticals announced that it has entered into a definitive agreement with pharma company Novo Nordisk under which Novo Nordisk will acquire Dicerna for $ 38,25 per share and a total equity value of $ 3,3 billion, representing an 80% premium compared to Dicerna’s share price at closing on Nov 17, 2021.
Portfolio News – Acquisition of Portfolio Company Dicerna – Nov 18, 2021
At the beginning of the 20th century, the only two options doctors had available to treat cancer were surgery and/or radiation therapy. At that time, cancers that couldn’t be removed or irradiated, because of their position or because they involved blood cells, were deemed untreatable.
Facts & Figures – From History to Future in Cancer Treatment
Since its inception, Aescap has taken environmental, social and governance (ESG) factors into consideration by analyzing sustainability impact of its portfolio companies and potential new investments. By continuously doing so, Aescap aims to encourage companies in our sector to act with the well-being of people and our planet in mind. The fund focuses its investments in companies developing treatments that are aimed to significantly improve the life of patients and benefit society as a whole.