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By using the website www.bellevue.ch, you confirm that you have read, understood and accepted the general information provided by the Bellevue Group AG as well as these legal provisions. These may be subject to change and the use of the site may be restricted or terminated at any time without prior notice.

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The information, products, data, services, tools and documents contained or described on this site ("website content") are for information purposes only and constitute neither an advertisement or recommendation nor an offer or solicitation (to buy) or redemption (sell) investment instruments, to effect any transaction or to enter into any legal relations.

The financial products mentioned on this site are not suitable for all investors. The information contained on this site does not constitute a financial, legal, fiscal or any other recommendation. Investment or other decisions should not be made solely on the basis of this document. In particular, you should not enter into any investment before you have read the corresponding fund agreement or legal prospectus, the annual and semi-annual reports, the articles of association (as far as they are applicable), as well as all other documents, as required in accordance with local legislation or the regulations applied in the legal jurisdictions or countries in which the corresponding investment fund has been licensed or approved for public offer or sale to the public.rlich sind.

The financial products mentioned on this site are not suitable for all investors. The information contained on this site does not constitute a financial, legal, fiscal or any other recommendation. Investment or other decisions should not be made solely on the basis of this document. In particular, you should not enter into any investment before you have read the corresponding fund agreement or legal prospectus, the annual and semi-annual reports, the articles of association (as far as they are applicable), as well as all other documents, as required in accordance with local legislation or the regulations applied in the legal jurisdictions or countries in which the corresponding investment fund has been licensed or approved for public offer or sale to the public.

In order to determine whether the investment in shares of a certain investment fund meets your specific requirements and matches your envisaged risks, we recommend that you contact an independent financial adviser. Furthermore, we recommend that you consult an independent tax adviser in order to obtain information on the tax regulations relating to a specific investment in your legal jurisdiction and with regard to your personal circumstances. In particular tax treatment depends on individual circumstances and may be subject to change.

As the funds are recognised (ie. registered) but not authorised in the UK, the UK Financial Services Authority's financial services compensation scheme does not apply to investments in the fund but the Financial Services Authority regulated firm approving this document for the purposes of UK regulation has taken reasonable steps to satisfy itself that Bellevue will deal in an honest and reliable way and is so satisfied.

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Past performance is not an indication or guarantee of the future performance of the investment. The value of investments may be subject to fluctuations and, under certain circumstances, investors may not get back the full amount invested. The performance data are calculated without taking account of commissions and costs that result from subscriptions and redemptions and commissions and costs have a negative impact on performance. Changes in foreign-exchange rates may also cause the value of investments to go up or down.

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The sites are intended exclusively for use by legal entities and natural persons having their registered office or residing in countries in which the investment funds or the related subfunds or share classes of the Bellevue Group have been properly licensed or approved for public offer or sale in accordance with the applicable local legislation. The funds are currently registered for public distribution offer in the following countries: Luxembourg, Switzerland, Germany, Austria and Spain. In all other countries, the funds may, if any, via "Private Placement" according to the local applicable laws.

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The Bellevue funds have NOT been licensed for public offer or sale to the public in the United States in accordance with the US Investment Company Act of 1940 or the US Securities Act of 1933, or in Canada, Japan, Taiwan, Malaysia, Hong Kong or Israel in accordance with the laws in force in those countries. Therefore, particular importance is attached to ensuring that these sites are not intended for legal entities or natural persons, who have their registered office or who reside in such countries, their territories or dependencies or who, on account of their citizenship or similar status, are subject to the law of one of these countries.

Fund documents Luxembourg Fund

Bellevue SICAV: The Bellevue Funds (Lux) SICAV is admitted for public offering and distribution in Switzerland . Representative agent in Switzerland   Waystone Fund Services (Switzerland) SA, Avenue Villamont 17, CH-1005 Lausanne and paying agent in Switzerland: DZ PRIVATBANK (Schweiz) AG Münsterhof 12, PO Box, CH-8022 Zürich . The Bellevue Funds (Lux) SICAV is admitted for public distribution in Austria . Paying and information agent : Erste Bank der oesterreichischen Sparkassen AG, Graben 21 , A - 1010 Vienna . The Bellevue Funds (Lux) SICAV is admitted for public distribution in Germany . Paying and information agent : Bank Julius Bär Europe AG, An der Welle 1 , P . O . Box, D - 60062 Frankfurt a . M . The Bellevue Funds (Lux) SICAV is registered with the CNMV under the number 938 . Prospectus, Key Investor Information Document (“KIID”), the articles of association as well as the annual and semi - annual reports of the Bellevue Funds under Luxembourg law are available free of charge from the above mentioned representative, paying, facilities and information agents as well as from Bellevue Asset Management AG, Seestrasse 16 , CH - 8700 Kusnacht. 

StarCapital: You can obtain the sales prospectus, the annual reports and the german key investor information documents free of charge from StarCapital AG, and also from banks and financial advisers. Paying agent in Switzerland is DZ PRIVATBANK (Schweiz) AG, Münsterhof 12, PO Box, CH-8022 Zurich. The swiss agent is IPConcept (Schweiz) AG, In Gassen 6, PO Box, CH-8022 Zurich. In Switzerland you can obtain sales prospectus, the annual reports and the german key investor information documents free of charge from the agent and also from the paying agent. 

Fund documents Bellevue Entrepreneur Switzerland

Prospectus, Key Investor Information Document („KIID“), fund contract as well as the annual and semi - annual reports of the Bellevue Fund under Swiss law are available free of charge from: Switzerland : PMG Fonds Management AG, Sihlstrasse 95 , CH - 8001 Zürich or Bellevue Asset Management AG, Seestrasse 16, CH - 8700 Kusnacht. 

Fund documents Bellevue Funds and Bellevue Healthcare Strategy

Prospectus, Key Investor Information Document („KIID“), fund contract as well as the annual and semi - annual reports of the Bellevue Medtech and Services fund established under Swiss law in the category "Other Funds for Traditional Investments" are available free of charge from : Switzerland : Swisscanto Fondsleitung AG, Bahnhofstrasse 9 , CH - 8001 Zürich or Bellevue Asset Management AG, Seestrasse 16 , CH - 8700 Kusnacht

Fund documents StarCapital Equity Value plus, StarCapital Multi Income, StarCapital Strategy 1 and StarCapital Dynamic Bonds.

Prospectus, the key investor information document (KIID), the management regulations and the semi-annual and annual report are available free of charge in German from StarCapital AG, your advisor or intermediary, the paying agents, the relevant custodian bank or from the management company IPConcept (Luxembourg) S.A. (société anonyme), 4, rue Thomas Edison, L-1445 Luxembourg, Luxembourg, https://www.ipconcept.com. For information on opportunities and risks as well as tax information, please refer to the current detailed sales prospectus. Further information on investor rights can be found on the Management Company's website (https://www.ipconcept.com). The management company may decide to cancel the arrangements it has made for the distribution of the units of its collective investment undertakings in accordance with Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/EU.

Fund documents Bellevue Option Premium fund

Prospectus, the key investor information document (KIID), the management regulations and the semi-annual and annual reports are available free of charge in German from StarCapital AG, your advisor or intermediary, the paying agents, the responsible depositary (UBS Europe SE, Bockenheimer Landstrasse 2-4, D-60306 Frankfurt am Main) or from the management company Universal-Investment-Gesellschaft mbH, Theodor-Heuss-Allee 70, D-60486 Frankfurt am Main, https://www.universal-investment.com. For information on opportunities and risks as well as tax information, please refer to the current detailed sales prospectus. Further information on investor rights can be found on the Management Company's website (https://www.universal-investment.com). The management company may decide to cancel the arrangements it has made for the distribution of the units of its collective investment undertakings in accordance with Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/EU.

 Fund documents StarCapital Premium Bonds plus  

Prospectus, the key investor information document (KIID), the management regulations and the semi-annual and annual reports. These can be obtained free of charge in German from StarCapital AG, your advisor or intermediary, the paying agents, the responsible depositary (UBS Europe SE, Bockenheimer Landstrasse 2-4, D-60306 Frankfurt am Main) or from the management company Donner & Reuschel AG, Ballindamm 27, 20095 Hamburg, https://www.donner-reuschel.de. For information on opportunities and risks as well as tax information, please refer to the current detailed sales prospectus. Further information on investor rights can be found on the Management Company's website (https://www.universal-investment.com). The management company may decide to cancel the arrangements it has made for the distribution of the units of its collective investment undertakings in accordance with Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/EU.

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Disruptive technologies are changing an entire industry

25.05.2022 - Daniel Koller

The biotech industry is increasingly applying next-generation therapeutic approaches to develop drugs for diseases and conditions with larger populations of patients. The sales potential of these therapeutics is large as well.

From the standpoint of both drug developers and the investment community, the successful development of COVID-19 vaccines and treatments clearly dominated the biotech industry’s innovative power and achievements during the past two years. This “wow” effect is now receding. At the same time, financial markets are shifting their attention to chronic and severe diseases with high prevalence rates. Important advances in biomedical technology that have so far been used to develop treatments for orphan diseases are now being applied more frequently in clinical trials to treat diseases affecting large numbers of people.

The biotech industry will benefit from this because it has pioneered a range of new therapeutic approaches. A large number of biotech companies that had previously been focused on rare diseases have begun to widen the scope of their R&D projects to include diseases with larger patient numbers. Next-generation technologies with huge disruptive potential are being applied here. More and more product candidates not only address indications with high unmet medical needs that have so far been difficult to treat, they also hold out the promise of a complete cure. Several of our portfolio companies will present groundbreaking clinical study results this year.

Moderna’s new vaccines soon ready
This year's headline events for Moderna, a core position in BB Biotech’s portfolio, will likely be the trial readouts for its Omicron-specific booster vaccine and mRNA-1010 flu vaccine. Its next-generation mRNA vaccines are expected to be superior to conventional flu vaccines in terms of efficacy and efficiency because they include other antigens and virus strains besides the typical four vaccine virus components selected annually by the WHO. If efforts to launch a combination vaccine against influenza and coronavirus are successful, the world market for flu vaccines, which currently has an annual volume of about 500 million doses, would grow significantly, and perhaps even double in size. Combination vaccines could appeal to people who are skeptical of repeated single-dose vaccinations. The relatively short development timelines and good tolerability profiles of mRNA vaccines would make today's leaders in this field – Moderna, Biontech and Pfizer – the big winners of such a breakthrough. Industry experts estimate that the price of combination vaccines could be set at up to USD 60 per dose, which gives an indication of the tremendous sales potential.

Applying mRNA technology to develop flu treatments is only one steppingstone in Moderna's long-term road map. Moderna is currently pursuing three key Phase III trials. In addition to its flu vaccine program, it is working on a vaccine for RSV, a virus that can cause severe respiratory infections in infants and young children, and a vaccine for cytomegalovirus (CMV). Currently, there are no treatment options for this herpes virus, which can cause hearing loss and other defects or developmental disabilities in babies.

Genome editing – blockbuster technology
Genome editing, a technology that promises to permanently cure genetic diseases, is on the verge of a major commercial breakthrough. This technology is used to cut out, repair or replace defective fragments of human DNA identified as genetic triggers of disease. Crispr Therapeutics has partnered with Vertex Pharma in developing treatments for beta thalassemia and sickle cell disease. Current treatments for these genetic disorders of red blood cells, which cause serious, even life-threatening complications, are inadequate.

Due to a specific genetic predisposition, the severe form of sickle cell anemia is dominant in the United States, affecting some 50 000 people. Beta thalassemia, also referred to as Mediterranean anemia, is more prevalent in southern Europe, whereas the number of people in the United States who have the severe form of this disease is about 1000. Genome editing is designed to provide a permanent cure following a single treatment. Regulatory approval of the first therapy based on this technology would revolutionize the treatment of this disease. A company offering such a one-time gene-therapy treatment would have considerable pricing power. Crispr and Vertex Pharma will be the first to announce top-line data from a pivotal trial and to submit a marketing authorization application. If their product does enter the market in 2023 as expected, it is forecast to generate annual peak sales in the billions.

Genetic engineering methods for drug development have produced RNA-based therapeutics such as siRNA and ASO (antisense oligonucleotide) which have recently received regulatory approval in niche indications. Our portfolio company Alnylam is a leader in siRNA-based medicines and should announce clinical results for its already approved Onpattro product by mid-year. If successful, the drug’s current targeted population of an estimated 50 000 individuals with ATTR amyloidosis and polyneuropathy would increase by as much as 300 000 through the inclusion of individuals with ATTR cardiomyopathy. ATTR is a rare disorder that occurs when a certain amyloid protein cannot be broken down, resulting in the buildup of an abnormal protein in various organs and tissues in the body.

Using artificial intelligence to build new platforms
Rational drug design is a novel approach that uses artificial intelligence (AI) and machine learning to analyze the molecular motions of protein molecules and better understand disease processes. Portfolio company Relay Therapeutics has three cancer drugs in clinical Phase I studies targeting pathogenic proteins that were previously not viable target molecules for therapeutic purposes. Black Diamond Therapeutics, another company in BB Biotech’s portfolio, uses machine-learning tools to develop novel precision oncology therapies that are designed to work across a number of tumor types.

Number of FDA approvals

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Thanks to its pioneering role in advancing numerous disruptive technologies, the biotechnology industry could soon be attracting greater investor attention. Annual new drug approvals send a clear message. At the beginning of this century, the average annual number of new drugs approved in the US, the world's largest drug market, was 20. In 2021, this number stood at 58. Meanwhile, from a purely quantitative perspective, the total number of clinical trials and the number of patients enrolled in these trials are now both significantly higher than they were before the pandemic. The importance of biopharmaceutical drugs will continue to grow in the future. It is estimated that biotech products will account for about 40% of all sales generated by prescription and over-the-counter drugs in 2026. These are all compelling arguments that market-moving news from the biotech sector can and will propel biotech stocks higher during the coming years.

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