Money Makers

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award for two years running (2024 and 2025), takes a look at the biotech sector and speaks to Woody Stileman, London officer manager at RTW Biotech, managers of RTW Biotech Opportunities (RTW); Geoffrey Hsu, manager of Biotech Growth Trust (IBT); and Ailsa Craig, co-manager of International Biotechnology Trust (BIOG). These conversations were recorded on Thursday 30 October 2025. Section Timestamps: 0:00:24 - Introduction 0:02:47 - Woody Stileman - RTW Biotech (RTW) 0:03:13 - - Why have biotech trusts been out of favour? 0:08:39 - - The involvement of AI 0:10:45 - - Appointments to the US Health Department and FDA 0:13:44 - - Drug pricing 0:18:33 - - RTW’s private holdings and the IPO drought 0:22:13 - - The trust’s discount 0:29:24 - - Risks in biotech 0:31:16 - A short break 0:32:22 - Geoffrey Hsu - Biotech Growth Trust (BIOG) 0:32:37 - -