The international biotechnology ecosystem is in effervescence. In a 2025 that has represented a turning point for valuations and investments, and in which a historical record has been reached in acquisitions of biotech companies by pharmaceutical companies, Telescope Biotech Fund has emerged strongly in the sector. Launched in February 2025, the fund managed by Andbank Wealth Management and advised by Ysios Capital has registered a net return of 52.5% in its Gold class, which places it as the most profitable Free Investment Fund of the year at a state level.
This turning point year for the biotech sector has not been the only factor that has led the fund to obtain this return, but it also stems from "the good results of several of the companies in the portfolio," as highlighted by Jordi Xiol, partner at Ysios Capital and Principal Advisor of Telescope Biotech Fund. One of the cases that illustrate this is Abivax, a French company that obtained positive results from two phase III clinical trials for the treatment of ulcerative colitis, or Revolution Medicines, focused on cancer and, above all, on the most difficult ones, such as pancreatic cancer.
Both are part of a portfolio that ranges between 25 and 30 companies, all of them listed and linked to biotechnological innovation and the development of new drugs, diversified among large pharmaceutical companies, commercially validated companies, and companies in the clinical phase with high revaluation potential.
After this 2025 of acceleration in the biotechnology sector, the fund expects this favorable scenario to continue in 2026. It will do so largely boosted by acquisitions, after a record year: pharmaceutical companies have allocated 118,000 million to the acquisition of biotech companies, a "significant increase" compared to 2024, with 40,000 million.
"The large pharmaceutical industry faces a massive loss of patents in the next five years, and has more than 600,000 million dollars in cash that it needs to allocate to mergers and acquisitions to renew its product portfolio," Xiol remarks. All this, in a context in which "medical innovation is experiencing a transformative moment, with great advances for patients in areas such as oncology, obesity, and rare diseases."
Furthermore, the improvement in market conditions facilitates new IPOs, which translates into "new investment opportunities" for Telescope. "Coupled with a favorable financial situation, all of this creates a unique environment for investment in the sector," in a scenario where the fund consolidates itself as a key player in this renewed commitment to biotechnology.