RTW Biotech Opportunities Ltd Investment Update (9421Y)

TIDMRTW

RNS Number : 9421Y

RTW Biotech Opportunities Ltd

08 January 2024

LEI: 549300Q7EXQQH6KF7Z84

8th January 2024

RTW Biotech Opportunities Ltd

-- Bayer AG and RTW Investments, LP lead the $162 million initial closing of the Series D financing in Chinese biotech Ji Xing Pharmaceuticals

   --      Bayer AG collaboration to focus on cardiovascular diseases and ophthalmology in China

RTW Biotech Opportunities Ltd (the "Company"), a London Stock Exchange-listed investment fund focused on identifying transformative biotech assets with high growth potential across the life sciences sector, is pleased to note the announcement on 6(th) January regarding portfolio company Ji Xing Pharmaceuticals Limited ("JIXING") and its Series D preferred stock financing and strategic partnership with Bayer AG ("Bayer") and RTW Investments, LP ("RTW"). Bayer and RTW announced an equity investment in JIXING amounting to USD $35 million and USD $127 million respectively, alongside a new strategic collaboration focused on cardiovascular diseases and ophthalmology in China. The Series D financing will strengthen JIXING's capabilities in development and commercialisation. Bayer and JIXING will also form a joint portfolio strategy committee to pursue additional business development opportunities, and Xiaolan Zhou, Executive Vice President, Pharmaceuticals Division, Bayer AG, President of Bayer Pharmaceuticals China, President of Bayer Greater China, will join JIXING's Board of Directors.

Founded and backed by RTW, JIXING is a clinical-stage biopharmaceutical company committed to bringing innovative medicines to underserved patients with serious and life-threatening diseases. As of 30 November 2023, JIXING represented 9.1% of the Company's net asset value, its largest private position.

Roderick Wong, MD, Managing Partner and Chief Investment Officer of RTW Investments, LP said:

"JIXING is on an exciting growth trajectory, driven by a world-class research and development team with a unique understanding of how to most effectively deliver innovative therapies that address complicated diseases to millions of patients in China and beyond. We believe JIXING is well-positioned to achieve its mission to bring breakthrough therapeutics to millions of people across China, and this latest development will provide JIXING with additional support and guidance from one of the world's largest and most renowned pharmaceutical and biomedical companies with deep experience in the cardiovascular and ophthalmology fields."

Click here for the full text of the press release .

For further information:

 
 RTW Investments, LP                                                     +44 (0)20 7959 6361 
 Woody Stileman, MD, Business 
  Development 
  Krisha McCune, Director, IR 
 biotechopportunities@rtwfunds.com 
                                                                         +44 (0)20 7466 5107 
   Buchanan Communications 
 Charles Ryland 
 Henry Wilson 
 
 
   Numis                                                                   +44 20 7260 1000 
 Freddie Barnfield 
 Nathan Brown 
 Euan Brown 
 
 BofA Securities                                                         +44 20 7628 1000 
 Edward Peel 
 Kieran Millar 
 Cadarn Capital                                                          +44 73 6888 3211 
  David Harris

About Biotech Opportunities Ltd:

RTW Biotech Opportunities Ltd (LSE: RTW & RTWG) is an investment fund focused on identifying transformative assets with high growth potential across the biopharmaceutical and medical technology sectors. Driven by a long-term approach to support innovative businesses, RTW Biotech Opportunities Ltd invests in companies developing next-generation therapies and technologies that can significantly improve patients' lives. RTW Biotech Opportunities Ltd is managed by RTW Investments, LP, a leading healthcare-focused entrepreneurial investment firm with deep scientific expertise and a strong track record of supporting companies developing life-changing therapies.

   Visit the website at  www.rtwfunds.com/rtw-biotech-opportunities-ltd   for more information.

***********

The information in this announcement may include forward-looking statements, which are based on the current expectations and projections about future events, and in certain cases can be identified by the use of terms such as "may", "will", "should", "expect", "anticipate", "project", "estimate", "intend", "continue", "target", "believe" (or the negatives thereon) or other variations thereon or comparable terminology. These forward-looking statements, as well as those included in any related materials, are subject to risks, uncertainties and assumptions about the Company and/or its underlying investments, including, among other things, the development of the applicable entity's business, trends in its operating industry, expected use of financing proceeds and future capital expenditures and acquisitions. In light of these risks, uncertainties and assumptions, the events in the forward-looking statements may not occur.

The information contained in this announcement is given at the date of its publication (unless otherwise marked). No reliance may be placed for any purpose whatsoever on the information or opinions contained in this announcement or on its completeness, accuracy or fairness.

***********

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDFIFSTLIITIIS

(END) Dow Jones Newswires

January 08, 2024 04:00 ET (09:00 GMT)

Rtw Biotech Opportunities (LSE:RTWG)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024