RCS - RTW Biotech Opp. - Edison issues update on RTW Venture Fund (RTW)
04/08/2023 07:30
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230804:nRSD2431Ia&default-theme=true RNS Number : 2431I RTW Biotech Opportunities Ltd 04 August 2023 London, UK, 4 August 2023 Edison issues update on RTW Venture Fund (RTW) RTW Venture Fund is focused on innovative biotech and medtech businesses that have clear pathways to delivering approved medicines and medical technologies to patients. It is managed by RTW Investments (RTW), a New York-headquartered, life sciences investment firm with offices in London and Shanghai. RTW takes a science-led, full-lifecycle approach to investing in both public and private opportunities, supporting companies at all stages of development via multiple capital solutions. Biotech stocks, in particular those of smaller-cap companies, fell out of favour in early 2021, but started to recover from mid-2022. RTW's managers are hopeful that the sector's positive fundamentals are starting to be appreciated again and that positive developments at portfolio companies will generate significant value for RTWVF's shareholders. The fund's largest holding recently received a takeover bid at a c 75% premium to its pre-bid share price. Rising interest rates and heightened investor aversion led to a major drawdown in biotech stocks between February 2021 and June 2022. However, long-term positive biotech industry fundamentals remain intact, including aging global populations and high levels of industry innovation, with faster introduction of new drug modalities. In addition, biotech company valuations, especially those of smaller businesses, are looking very attractive. RTWVF offers investors an interesting way to gain exposure to the global biotech (c 87% of the fund) and medtech (c 13%) sectors. At end-March 2023, c 75% of the fund was invested in core holdings, both private and public companies. The remainder is invested in the 'other public portfolio', which mirrors positions in RTW's private funds, instead of holding cash, for future deployment into the core portfolio. RTWVF aims to generate NAV total returns above 20% pa over the medium term. Click here (https://www.edisongroup.com/research/finding-value-in-the-out-of-favour-biotech-sector/32268/) to view the full report. All reports published by Edison are available to download free of charge from its website www.edisongroup.com (http://www.edisongroup.com) About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first company in-market 17 years ago, Edison has more than 100 employees and covers every economic sector. Headquartered in London, Edison also has offices in New York, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority (https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000MfYL6AAN) . Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Mel Jenner +44 (0)20 3077 5700 investmenttrusts@edisongroup.com (mailto:investmenttrusts@edisongroup.com) Learn more at www.edisongroup.com (http://www.edisongroup.com) and connect with Edison on: LinkedIn www.linkedin.com/company/edison-group-/ (http://www.linkedin.com/company/edison-group-/) Twitter www.twitter.com/Edison_Inv_Res (http://www.twitter.com/Edison_Inv_Res) YouTube www.youtube.com/edisonitv (http://www.youtube.com/edisonitv) This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy) . END NRASSSFFDEDSESA