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International Biotechnology Trust PLC on Monday said its portfolio company Day One Biopharmaceuticals Inc has agreed to be acquired by Servier in a $2.5 billion cash deal. Under the acquisition agreement, Day One shareholders will receive $21.50 per share in cash at closing, a 67% premium on Thursday’s closing share price. The company, based in California, represented 1.8% of International Biotechnology Trust’s net asset value. Day One is a commercial-state biotechnology company developing oncology therapies, with its Ojemda therapy being the only Food & Drugs Administration-approved type-2 Rad enzymes inhibitor for low-grade glioma, a childhood brain tumour, in patients over six months. International Biotechnology portfolio managers Alisa Craig and Marek Poszepczynski said: ‘Nine of IBT’s portfolio companies were acquired in 2025, and this first deal of 2026 for our portfolio shows that the wave of mergers and acquisitions in the biotech sector is set to continue at pace...The patent cliff facing major pharmaceutical companies remains a significant driver of M&A activity and we expect this period of dealflow to continue for the foreseeable future.’ International Biotechnology shares were down 0.7% at 901.66 pence each on Monday morning in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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