REG - RTW Biotech Opp. - CORXEL Announces Two Significant Transactions

RTW Biotech OpportunitiesAnnouncement

30/12/2024 07:00

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RNS Number : 5024R  RTW Biotech Opportunities Ltd  30 December 2024

LEI: 549300Q7EXQQH6KF7Z84

30 December 2024

RTW Biotech Opportunities Ltd

 

CORXEL Announces Two Significant Transactions

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 two
significant announcements from portfolio company, CORXEL Pharmaceuticals
("CORXEL"), a leading biotech company committed to bringing innovative science
and medicines to underserved patients with cardiometabolic diseases around the
world.

 

On 20 December, CORXEL announced that it had entered into a definitive
agreement whereby Sanofi would acquire CORXEL's exclusive rights to develop
and commercialise aficamten, an investigational, next-in-class selective small
molecule cardiac myosin inhibitor, in Greater China for an undisclosed amount.
The transaction has since closed.

 

Peter Wong, Partner and President at RTW Investments, LP ("the Investment
Manager", "RTW"), and Board Executive Director of CORXEL said, "This agreement
with Sanofi is a major milestone for CORXEL and proves its strong capability
to select leading innovative drug candidates of high significance for
patients. Since its establishment by RTW in 2019, CORXEL has achieved
tremendous success in the clinical development of innovative medicines. The
agreement with Sanofi will not only ensure fast and broad market access of
aficamten for hypertrophic cardiomyopathy ("HCM") patients in Greater China
but also allow CORXEL to grow further and focus on developing innovative
medicines for cardiometabolic diseases globally, as they increase their focus
on worldwide markets."

 

On 23 December, CORXEL announced the acquisition of CX11 (also known as
VCT220), an oral small molecule glucagon-like peptide-1 receptor agonist
(GLP-1 RA), for worldwide (excluding Greater China) development and
commercialisation, from Vincentage. CX11 is an investigational, oral small
molecule GLP-1 RA for the treatment of cardiometabolic diseases, including
obesity and type 2 diabetes. GLP-1 RAs have been shown to lower body weight,
improve insulin sensitivity, and reduce glucose and overall appetite. CX11, in
a once daily, orally available formulation, could offer convenience and
accessibility to patients, and lower the cost of manufacturing compared to
injectables. In a Phase 2 clinical trial conducted in China, CX11 demonstrated
competitive weight loss with favourable safety and tolerability. The
registrational Phase 3 study in obese and overweight patients in China was
initiated in November 2024. CORXEL plans to initiate a global (excluding
Greater China) Phase 2 study in obese and overweight patients in 2025.

 

Roderick Wong, Managing Partner and CIO at the Investment Manager said,
"Obesity has become a major risk factor for a number of chronic diseases like
diabetes, hypertension and liver disease, as well as cardiovascular diseases
such as heart disease and stroke, which are the leading causes of death
worldwide. This acquisition marks the expansion of CORXELS's cardiometabolic
pipeline into obesity and diabetes. We are excited about the potential of
CX11, which has shown impressive efficacy in weight reduction, making it a
potential best-in-class oral small molecule GLP-1 RA. Since its establishment,
CORXEL has proven its strong capabilities in asset selection, clinical
development, registration and partnering in manufacturing for innovative
medicines. The global team is fully committed to developing CX11 with high
quality and efficiency, allowing CORXEL to tap into the tremendous obesity
market worldwide."

 

The full text of the announcements can be accessed at
https://www.corxelbio.com/en/press-releases/
(https://www.corxelbio.com/en/press-releases/)

 

  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

 Cadarn Capital (PR & Communications/Distribution & IR Partner)           +44 79 8418 4461
                                                                           Lucy@cadarncapital.com (mailto:Lucy@cadarncapital.com)

 Lucy Clark (PR)

 David Harris (Distribution)                                              +44 73 6888 3211

                                                                          david@cadarncapital.com

 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

 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) 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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