REG - RTW Biotech Opp. - BioAge Labs completes $198 million IPO

RTW Biotech OpportunitiesAnnouncement

27/09/2024 07:00

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RNS Number : 9021F  RTW Biotech Opportunities Ltd  27 September 2024

LEI: 549300Q7EXQQH6KF7Z84

27 September 2024

RTW Biotech Opportunities Ltd

Portfolio Company Update: BioAge Labs completes $198 million IPO

RTW Biotech Opportunities Ltd (the "Company"), a London Stock Exchange-listed
investment company focused on identifying transformative assets with high
growth potential across the life sciences sector, is pleased to note the
announcement by BioAge Labs, Inc. ("BioAge") regarding its completion of a
$198 million initial public offering ("IPO"). BioAge will trade on Nasdaq
Global Select Market under the ticker "BIOA".

BioAge's IPO raised $198 million by offering 11,000,000 shares at $18.00 per
share. As of market close on the first day of trading, the shares rose 1.7% to
$18.31. As at 31 August 2024, BioAge represented 0.3% of the Company's NAV.

BioAge is a clinical-stage biopharmaceutical company developing therapeutic
product candidates for metabolic diseases, such as obesity, by targeting the
biology of aging. Its lead program, azelaprag, has potential as an oral
regimen to improve weight loss and restore both body composition and muscle
function in patients on obesity therapy with incretin drugs. The Company
initially invested in BioAge's Series D round in February of this year.

Yuantao Li, PhD, Research Associate at the Investment Manager said, "BioAge's
innovative approach to targeting metabolic diseases such as obesity,
particularly through their lead product candidate, azelaprag, holds tremendous
promise. BioAge's commitment to developing cutting-edge treatments underscores
their dedication to leveraging novel biology to tackle key pathways in
metabolic diseases. This IPO represents a pivotal moment for BioAge Labs, and
I look forward to witnessing their continued success in developing
transformative therapies."

The full text of the announcement can be accessed on BioAge's website at:
https://bioagelabs.com/
(https://ir.bioagelabs.com/news-releases/news-release-details/bioage-labs-announces-pricing-upsized-initial-public-offering)
.

 

For Further Information

 RTW Investments, LP                                      +44 20 7959 6361
 Woody Stileman, Managing Director, Business Development  biotechopportunities@rtwfunds.com (mailto:biotechopportunities@rtwfunds.com)

 Krisha McCune, Director, Investor Relations

 Buchanan (PR & Communications Adviser)                   +44 20 7466 5107

 Charles Ryland

 Henry Wilson

 George Beale

 Deutsche Numis (Joint Corporate Broker)                  +44 20 7260 1000

 Freddie Barnfield

 Nathan Brown

 Euan Brown

 BofA Securities (Joint Corporate Broker)                 +44 20 7628 1000

 Edward Peel

 Alex Penney

 Cadarn Capital (Distribution & IR Partner)               +44 73 6888 3211

 David Harris

 Elysium Fund Management Limited                           +44 14 8170 3100

 Joanna Duquemin Nicolle, Chief Executive Officer

 Sadie Morrison, Managing Director

 Morgan Stanley Fund Services USA LLC                     +1 914 225 8885

 

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
(https://www.rtwfunds.com/rtw-biotech-opportunities-ltd/)  for more
information.

 

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***********

 

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