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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, Spain and Portugal. 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. Austria: Paying and information agent: Zeidler Legal Process Outsourcing Limited., 19-22 Lower Baggot Street, Dublin 2, D02 X658, Ireland. Germany: information agent: Zeidler Legal Process Outsourcing Limited., 19-22 Lower Baggot Street, Dublin 2, D02 X658, Ireland. Spain: The Bellevue Funds (Lux) SICAV is registered with the CNMV under the number 938. Paying and information agent: atl Capital, Calle de Montalbán 9, ES-28014 Madrid.  Prospectus, Key Investor Information Document (“KID”), 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. 

Bellevue Asset Management (Deutschland) GmbH: You can obtain the sales prospectus, the annual reports and the german key investor information documents free of charge from Bellevue Asset Management (Deutschland) GmbH, 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 („KID“), 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, Dammstrasse 23, 6300 Zug or Bellevue Asset Management AG, Seestrasse 16, CH - 8700 Kusnacht. 

Fund documents Bellevue Funds and Bellevue Healthcare Strategy

Prospectus, Key Investor Information Document („KID“), 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 ("KID"), the management regulations and the semi-annual and annual report are available free of charge in German from Bellevue Asset Management (Deutschland) GmbH, 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 ("KID"), the management regulations and the semi-annual and annual reports are available free of charge in German from Bellevue Asset Management (Deutschland) GmbH, 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 ("KID"), the management regulations and the semi-annual and annual reports. These can be obtained free of charge in German from Bellevue Asset Management (Deutschland) GmbH, 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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RNA-based drugs will revolutionize the application of gene therapy to treat a growing number of diseases and disorders during the coming years.

Moderna was just the beginning

RNA-based drugs will revolutionize the application of gene therapy to treat a growing number of diseases and disorders during the coming years.
30.08.2022 - Daniel Koller

Alnylam, a stock in BB Biotech's portfolio, made its biggest one-day gain since the company went public in June of 2004. Alnylam shares were marked up 60%, reaching a new all-time high, in reaction to the publication of promising data from a pivotal trial of patisiran, an active substance the company is testing on patients with transthyretin amyloid cardiomyopathy. ATTR cardiomyopathy (ATTR-CM) is a rare inherited disease which is characterized by a buildup of faulty amyloid deposits, causing irreversible damage to the heart and nerves, as well other organs or tissues. The life expectancy of a typical patient is less than five years from diagnosis.

Alnylam will present detailed trial results at a medical conference in September and plans to file for regulatory approval in this indication by the end of the year.

The euphoric reaction of financial markets to this news reflects consensus expectations that patisiran will deliver billions in annual peak sales in this indication. Patisiran was already approved for the treatment of the polyneuropathy of ATTR amyloidosis four years ago and is sold under the brand name Onpattro. Alnylam reported annual sales of USD 475 mn from this drug in 2021. Some 50 000 individuals worldwide are affected by ATTR amyloidosis, and Onpattro could be prescribed to treat an additional 300 000 adults with ATTR-CM.

Commercial breakthrough a reality
Alnylam is considered to be one of the most promising takeover candidates in the biotech industry today. The company is marketing four authorized products and will present pivotal clinical trial data on five pipeline candidates by the end of 2023, including Phase III data for fitusiran, an investigational RNA interference treatment for people with hemophilia that Alnylam is developing in collaboration with Sanofi. However, the most compelling takeover argument from an acquirer's perspective is Alnylam's status as a pioneer and market leader in the field of small interfering RNA (siRNA) technology. This is a therapeutic approach that utilizes double-stranded RNA molecules to block the mechanisms of target proteins that have been identified as triggers for certain diseases. Simply put, messenger RNA (mRNA), i.e., the genetic blueprint encoding disease-causing proteins, is effectively suppressed to inhibit the production of those proteins.

RNAi (RNA interference) is a natural biological process for silencing or inhibiting gene expression. siRNAs are one class of RNAi mediators. Antisense technology is a related field where scientists are utilizing short single-stranded nucleic acids, or antisense oligonucleotides, to detect and eliminate disease-causing proteins. Ionis Pharma, a US biotech company, is a pioneer in the field of antisense that has been a core fixture of BB Biotech's portfolio for years. Messenger RNA, or mRNA for short, on the other hand, is a different therapeutic approach that instructs cells to make certain proteins. mRNA technology achieved a major commercial breakthrough with the development and marketing approval of COVID-19 vaccines in less than a year’s time. These mRNA vaccines train the body's immune system to detect viral proteins and develop an effective response without actually getting sick. The two COVID-19 vaccines developed by Moderna and Pfizer/Biontech were crucial in containing the coronavirus pandemic.

RNA technology enters a new chapter
BB Biotech recognized the medical potential of RNA technology early on. There are a total of four RNA-focused companies, including two core shareholdings, Moderna and Ionis, in its portfolio with an aggregate weighting of around 25%. The double-digit price gains of these companies in response to the breakthrough at Alnylam also helped BB Biotech's share price to gain 10% during the same period. In addition to Alnylam’s gains, the value of our stake in Wave Life Sciences rose by 50%. This markup was triggered by the company’s announcement that clinical trials of drugs in genome-editing therapies would begin next year.

Looking ahead to the next few years, we expect RNA-based drugs to enter a new market phase. Under the assumption, of course, that the later-stage testing is likewise successful, the range of potential applications for RNA-based therapeutics would grow to include diseases that affect large patient populations, for example cardiovascular diseases, metabolic disorders, cancer and organ fibrosis. Innovative products that make it to the market will generate billions in revenues.

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