3. Other information
3.1 Name, legal form and registered office
BB Biotech AG is a limited company according to the Swiss Code of Obligation and has its registered office at Schwertstrasse 6 in Schaffhausen.
3.2 Declaration of number of full-time equivalents
The number of full-time equivalents did not exceed 10 in the calendar year 2024 (2023: below 10).
3.3 Investments
Investments of BB Biotech AG comprise, in the business years 2024 and 2023, the following subsidiaries:
Company | Capital in CHF 1 000 | Capital and voting interest in % | ||
Biotech Focus N.V., Curaçao | 11 | 100 | ||
Biotech Growth N.V., Curaçao | 11 | 100 | ||
Biotech Invest N.V., Curaçao | 11 | 100 | ||
Biotech Target N.V., Curaçao | 11 | 100 |
3.4 Treasury shares (balances and change)
Treasury shares are held directly by BB Biotech AG and indirectly by its 100% subsidiary Biotech Target N.V.
BB Biotech AG | Biotech Target N.V. | Total | ||||
Balance at January 1, 2023 | – | 554 000 | 554 000 | |||
Balance at December 31, 2023 | – | 554 000 | 554 000 | |||
Balance at January 1, 2024 | – | 554 000 | 554 000 | |||
Purchase of shares at an average price of CHF 37.29 | 84 000 | – | 84 000 | |||
Balance at December 31, 2024 | 84 000 | 554 000 | 638 000 |
3.5 Audit fees
The audit fees comprise the following (in CHF):
2024 | 2023 | |||
Audit fees | 120 000 | 120 000 | ||
Audit-related fees | 5 000 | – | ||
ESG training of the Board of Directors | – | 18 000 | ||
125 000 | 138 000 |
3.6 Commitments and contingencies
The Company had no commitments or other off-balance sheet transactions open at December 31, 2024 (2023: none).
The operations of the Company are affected by legislative, fiscal and regulatory developments for which provisions are made where deemed necessary. The Board of Directors concludes that as at December 31, 2024, no proceedings existed which could have any material effect on the financial position of the Company (2023: none).
3.7 Subsequent events
There have been no events subsequent to December 31, 2024, which would affect the 2024 financial statements.
3.8 Significant shareholders
Based on information received and published by the Company, the following party owns significant voting rights:
Voting rights in % | 31.12.2024 | 31.12.2023 | ||
UBS Fund Management AG, Zurich, Switzerland | 4.356% | n.a. |
3.9 Statement of holdings of the Board of Directors
As at December 31, the Board of Directors held the following registered shares of BB Biotech AG:
2024 | 2023 | |||
Dr. Thomas von Planta, Chairman | 18 888 | 12 000 | ||
Dr. Clive Meanwell, Vice-Chairman | 5 163 | 5 163 | ||
Laura Hamill | – | – | ||
Dr. Pearl Huang | – | – | ||
Prof. Dr. Mads Krogsgaard Thomsen | 17 750 | – | ||
Camilla Soenderby | – | – | ||
Dr. Erich Hunziker (until March 2024) | n.a. | 957 884 |
3.10 Management contracts
On behalf of the Company, the Board of Directors has entered into a management contract with Bellevue Asset Management AG (investment manager and administrator). In this contract, the investment manager commits to carry out management services relating to the investment activity and general management of BB Biotech AG. Under this contract the Company paid in the business year 2024 CHF 453 516 (2023: CHF 503 308) to Bellevue Asset Management AG.
3.11 Management report and cash flow statement
Due to the fact that BB Biotech AG prepares consolidated financial statements in accordance with a recognized international accounting standard (IFRS), the Company doesn’t prepare, in line with the legal requirements, a management report and cash flow statement.