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HBM HEALTHCARE INVESTMENTS AG

(HBMN)
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EQS-Adhoc : HBM Healthcare Investments Quarterly Report June 2021

07/23/2021 | 12:47am EDT
EQS Group-Ad-hoc: HBM Healthcare Investments AG / Key word(s): Quarter Results 
HBM Healthcare Investments Quarterly Report June 2021 
23-Jul-2021 / 06:46 CET/CEST 
Release of an ad hoc announcement pursuant to Art. 53 LR 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
HBM Healthcare Investments closed the first quarter of the 2021/2022 financial year with a profit of CHF 136 million. 
The increase in the net asset value per share (NAV) amounted to 6.3 percent. The share price rose by 6.9 percent. The 
investment approach with holdings in private and public companies around the globe proved itself once again. 
The portfolio of private companies (including public companies originating from the private portfolio) resulted in an 
increase in value of CHF 90 million. A number of transactions contributed to this. Three companies successfully went 
public: Werewolf Therapeutics, Ambrx Biopharma and Monte Rosa Therapeutics. In addition, Valo Health signed a merger 
agreement with listed company Khosla Ventures Acquisition Co. Swixx BioPharma, NiKang Therapeutics and ConnectRN 
completed financing rounds with external investors at higher valuations, and Tata Digital acquired a majority stake in 
leading Indian healthcare platform 1mg. The public companies originating from the private portfolio also increased in 
value in aggregate. The share price of Cathay Biotech in China rose by around 30 percent, offsetting the decline in the 
majority of the other holdings. 
The value of fund investments decreased by CHF 9 million in the quarter under review. This was mainly due to the 
decline in the share price of Seer Inc., the largest investment in the HBM Genomics Fund. 
The portfolio of other public companies contributed CHF 45 million to profit. This came mainly from the investments in 
the fast-growing Indian biopharmaceutical company Laurus Labs, the US company Biohaven Pharmaceuticals and the new 
investment in Hutchmed China. In addition to its listing on Nasdaq, Hutchmed China completed an IPO on the Hong Kong 
Stock Exchange during the quarter under review, with HBM Healthcare Investments participating as a cornerstone investor 
with USD 20 million. 
The market and currency hedges resulted in profit contributions of CHF 7 million and CHF 24 million, respectively. The 
market hedge was fully unwound in the quarter under review and the USD currency hedge was reduced to around 35 percent 
of the exposure. Other assets reduced the investment result by CHF 10 million, mainly due to currency fluctuations. 
Investments in private companies 
During the quarter under review, HBM Healthcare invested CHF 25 million as follow-on financing in existing portfolio 
companies and made a new investment of CHF 17 million in the privately held Swiss company Numab Therapeutics. Numab is 
developing a new generation of cancer immunotherapies. The most advanced compound (NM21-1480) is currently being tested 
in a phase I/II clinical trial in patients with solid tumours. Numab is developing this therapy together with its 
Chinese partner CStone Pharmaceuticals. 
Outlook 
The portfolio continues to be well diversified and finely balanced in terms of composition (private and public 
companies, geographical regions, stages of development and areas of activity or therapy). This reduces dependence on 
the development of individual sectors or regions within the healthcare market, which has a stabilising effect and 
should continue to have a positive impact on performance. 
Essentially, nothing has changed compared to the outlook outlined in the annual report. The fundamental factors 
continue to speak for a successful development of the sector as a whole and for the portfolio companies individually. 
In this respect, the Company expects further value-enhancing events from its portfolio due to IPOs, financing rounds, 
company takeovers or clinical trial results. 
The Quarterly Report June 2020 is available on the Company's website www.hbmhealthcare.com/en/investors/ 
financial-reports. 
Contact 
For further information, please contact Dr Andreas Wicki on +41 41 710 75 77, or at andreas.wicki@hbmhealthcare.com. 
=---------------------------------------------------------------------------------------------------------------------- 
End of ad hoc announcement 
=---------------------------------------------------------------------------------------------------------------------- 
Language:     English 
Company:      HBM Healthcare Investments AG 
              Bundesplatz 1 
              6300 Zug 
              Switzerland 
Phone:        +41438887171 
Fax:          +41438887172 
E-mail:       info@hbmhealthcare.com 
Internet:     https://www.hbmhealthcare.com 
ISIN:         CH0012627250 
Valor:        1262725 
Listed:       SIX Swiss Exchange 
EQS News ID:  1221171 
 
End of Announcement EQS Group News Service 
=------------ 

1221171 23-Jul-2021 CET/CEST

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1221171&application_name=news 
 

(END) Dow Jones Newswires

July 23, 2021 00:46 ET (04:46 GMT)

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Financials
Sales 2022 - - -
Net income 2022 171 M 187 M 187 M
Net Debt 2022 45,0 M 49,0 M 49,0 M
P/E ratio 2022 14,1x
Yield 2022 3,53%
Capitalization 2 425 M 2 635 M 2 642 M
EV / Sales 2022 -
EV / Sales 2023 -
Nbr of Employees 700
Free-Float 82,6%
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Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 348,50 CHF
Average target price 355,00 CHF
Spread / Average Target 1,87%
EPS Revisions
Managers and Directors
Andreas Wicki Chief Executive Officer
Erwin Troxler Chief Financial Officer
Hans-Peter Hasler Chairman
Rudolf Lanz Director
Mario Germano Giuliani Director
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