Eventide Gilead Fund and Eventide Healthcare & Life Sciences Fund Invest in Beta Bionics
Boston, MA – The Eventide Gilead Fund and Eventide Healthcare & Life Sciences Fund announce investment in Beta Bionics. The Funds purchased private securities of Beta Bionics to help capitalize the clinical development of its medical device for the treatment of patients with type 1 diabetes. Beta Bionics is developing a novel artificial pancreas, which is a pocket-sized, wearable medical device designed to autonomously control blood-sugar levels in people with diabetes. The medical device is currently in clinical trials and Beta Bionics hopes to ultimately gain FDA approval for the technology.
Eventide CIO Finny Kuruvilla, MD PhD, commented on the investment:
“Our investment in Beta Bionics is a prime example of our guiding vision of ‘investing that makes the world rejoice.’ From its founders to even the legal structure of the company itself, Beta Bionics is a mission-driven organization dedicated to improving the lives of people suffering from diabetes. Our investment to fund Beta Bionics’ clinical trials means Eventide Gilead Fund and Eventide Healthcare & Life Sciences Fund investors are taking part in the efforts to bring about, in the words of the company, ‘a healthier and happier (type 1 diabetes) community.’”
As of September 30, 2018, Beta Bionics comprised 0.89% of the Eventide Gilead Fund and 1.03% of the Eventide Healthcare & Life Sciences Fund net assets under management.
Holdings are subject to change.
Mutual Funds involve risk including the possible loss of principal. Past performance does not guarantee future results. The Funds’ ethical values screening criteria could cause it to under-perform similar funds that do not have such screening criteria. The Funds can have risk related to option investing. There are special risks associated with investments in foreign companies including exposure to currency fluctuations, less efficient trading markets, political instability and differing auditing and legal standards.
The Eventide Gilead Fund and Eventide Healthcare & Life Sciences Fund can invest in smaller-sized companies which may experience higher failure rates than larger companies and they normally have a lower trading volume than larger companies. The Funds can also have risk associated with the biotechnology and pharmaceutical industry in which these companies may be heavily dependent on clinical trials with uncertain outcomes and decisions made by the U.S. Food and Drug Administration. The Funds can invest in private companies. Private investments include various risks including but not limited to lack of liquidity, capital commitment risk, and valuation risk. Private companies may not be financially profitable and have uncertain futures, subjecting them to additional risks. Investors in the Gilead Fund should be aware that companies in the technology industries have different risks including but not limited to products becoming obsolete, and entrance of competing products.
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