Positive newsflow from BB Biotech's investment portfolio

BB BIOTECH AG / Positive newsflow from BB Biotech's investment portfolio . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

Portfolio company Puma Biotechnology reports strong data in HER-2 positive breast cancer

Puma Biotechnology's drug candidate neratinib achieved convincing results in a Phase III trial and confirmed its blockbuster potential. The shares of the US biotech company soared on the news and nearly quadrupled in value. BB Biotech held 576 991 Puma Biotechnology shares as of July 22, 2014, which represented 1.4% of the investment company's NAV.

Puma Biotechnology released very positive data from a Phase III trial with neratinib in women with HER-2 positive breast cancer. The enrolled patients showed a statistically significant 33% improvement in disease-free survival after one year of treatment. The study with neratinib followed a 12-month regimen with Herceptin, the standard therapy in this disease setting. This is an extraordinary outcome because two years' of treatment with Herceptin have shown no improvement over a one-year treatment period. Neratinib could therefore become the first drug in the market that offers a significant benefit in an extended adjuvant setting. In view of the positive data, neratinib can probably also be administered to treat HER-2 mutations. BB Biotech expects Puma Biotechnology to file an application for regulatory approval of neratinib during the first half of 2015.

BB Biotech held 576 991 Puma Biotechnology shares as of July 22, 2014, which represented 1.92% of the company and 1.4% of BB Biotech's Net Asset Value (NAV). The NAV increased by CHF 100 million as a result of the sharp markup in Puma Biotechnology's share price from USD 59.03 (closing price on July 22, 2014) to USD 233.43 (closing price on July 23, 2014).

For further information:

Investor Relations
Bellevue Asset Management AG, Seestrasse 16, 8700 Küsnacht, Switzerland, Tel. [phone]
Dr. Silvia Schanz, [e-mail]
Maria-Grazia Iten-Alderuccio, [e-mail]
Claude Mikkelsen, [e-mail]

Media Relations
b-public AG, Pfingstweidstrasse 6, 8005 Zurich, Switzerland, Tel. [phone]
Thomas Egger, [e-mail]

Bellevue Asset Management AG, Seestrasse 16, 8700 Küsnacht, Switzerland, Tel. [phone]
Tanja Chicherio, [e-mail]

Company profile     
BB Biotech invests in companies in the fast growing market of biotechnology and is one of the world's largest investors in this sector with CHF 2.3 billion in assets under management. BB Biotech is listed in Switzerland, Germany and Italy. Its investments are focused on listed companies that are developing and commercializing novel medical treatments and cures. BB Biotech's investment selection process is guided by the fundamental research and analysis of physicians and molecular biologists. Its Board of Directors has many years of experience in industry and science.

Disclaimer
This release contains forward-looking statements and expectations as well as assessments, beliefs and assumptions. Such statements are based on the current expectations of BB Biotech, its directors and officers, and are, therefore, subject to risks and uncertainties that may change over time. As actual developments may significantly differ, BB Biotech and its directors and officers accept no responsibility in that regard. All forward-looking statements included in this release are made only as of the date of this release and BB Biotech and its directors and officers assume no obligation to update any forward-looking statements as a result of new information, future events or other factors.

Media Release (PDF)

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Source: BB BIOTECH AG via Globenewswire

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