Significant investments

Typically, building a strategic position begins by investing in a private company with development potential and expands at follow-on financing rounds as well as IPOs.

HBM Healthcare is committed to broad diversification according to the following parameters: private and public companies; development phase; therapeutic area; geography; company size (market capitalisation, valuation). Without the Board of Directors' approval, the acquisition value of an investment may not exceed 10 percent of net assets.

Overview as at 30 September 2025

Swixx BioPharma
CHF
231
million
(Fair value CHF 231.3 million / 13.7% of total assets)
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CHF
205
million
Shanghai Cathay Biotech
(Fair value CHF 204.5 million / 12.2% of total assets)
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Merus
CHF
67
million
(Fair value 67.0 million / 4.0% of total assets)
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Argenx
CHF
58
million
(Fair value 58.2 million / 3.4% of total assets)
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CHF
47
million
Harmony Biosciences
(Fair value 47.1 million / 2.8% of total assets)
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Neurelis
CHF
45
million
(Fair value CHF 44.8million / 2.7% of net assets)
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Mineralys
CHF
34
million
(Fair value CHF 34.0 million / 2.0% of total assets)
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CHF
33
million
Upstream
(Fair value CHF 32.9 million / 2.0% of total assets)
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CHF
30
million
Zimeworks
(Fair value CHF 30.1 million / 1.8 of net assets)
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ArriVent BioPharma
CHF
30
million
(Fair value CHF 29.6 million / 1.8% of total assets)
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