REG - RTW Biotech Opp. - Monthly Valuation Update and Factsheet

RTW Biotech OpportunitiesAnnouncement

15/01/2025 07:00

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RNS Number : 3318T  RTW Biotech Opportunities Ltd  15 January 2025

LEI: 549300Q7EXQQH6KF7Z84

15 January 2025

RTW Biotech Opportunities Ltd

Monthly Valuation Update and Factsheet

-8.4% NAV movement for the month

RTW Biotech Opportunities Ltd (the "Company") announces that the unaudited net
asset value attributable to the ordinary shares of the Company at the close of
business on 31 December 2024 (the "NAV") was US$606.9 million, or US$1.81 per
ordinary share, -8.4% from the previous month.

The monthly factsheet with quarterly letter is available on the Company's
website:

 

https://www.rtwfunds.com/rtw-biotech-opportunities-ltd/factsheets-letters/
(https://www.rtwfunds.com/rtw-biotech-opportunities-ltd/factsheets-letters/)

 

Highlights from the Investment Manager's quarterly letter:

·      The Russell 2000 Biotech Index was +2.5% for the year and remains
below levels first reached in 2018, while the number of listed biotech
companies trading at negative enterprise value remains at historic highs.

·      Interest rate worries dominated, while the results of the first
round of Inflation Reduction Act (IRA) drug negotiations were on the better
end of expectations.

·      The uncertainty surrounding RFK Jr's nomination as Trump's
Secretary of Health and Human Services (HHS) became a new reason for some to
stay on the sidelines. Considering the scope of the job, guardrails, and
players surrounding him, we currently don't expect a change in direction when
it comes to FDA's pro-innovation trend.

·      M&A was too small to get things going. While
billion-dollar-plus acquisition volumes remain near record highs, dollar value
dropped to $45B vs $145B in 2023. Despite this, we don't think this spells
doom for larger late-stage deals. Merck, Bristol, Roche, Novartis and Sanofi
are still on the hunt for revenues this decade and Lilly and Novo are sure to
get more aggressive as their obesity revenues grow. IPOs made incremental
progress towards normalisation. Consolidation also continued.

·      The FDA approved 56 novel drugs this year, shy of last year's
record-setting 61, but still one of the highest in history.

·      The sector has outperformed the S&P500 in two of the past
three Republican first terms, and we would expect no different an outcome
today, given the promising science our team are evaluating daily.

·      RTW-founded Corxel announced two significant transactions in
December. It sold its China Aficamten rights to Sanofi and in-licensed
ex-China rights to CX11, an oral small molecule GLP-1 for obesity.

·      Obesity remains a significant priority for us in 2025. With an
exciting portfolio of private obesity assets, RTW Bio is unique among listed
investment companies for shareholders looking for exposure to the area.

·      To learn more about the science, impact, evolving competitive
landscape, and the opportunities we see, please check out our podcast: "The $1
Trillion GLP-1 Revolution":
https://www.rtwfunds.com/news-events/insights/the-1-trillion-glp-1-revolution-with-rod-wong/
(https://www.rtwfunds.com/news-events/insights/the-1-trillion-glp-1-revolution-with-rod-wong/)

 

 

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 Clark (PR)                                                            Lucy@cadarncapital.com (mailto:Lucy@cadarncapital.com)

 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

 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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The information in this announcement may include forward-looking statements,
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announcement or on its completeness, accuracy or fairness.

***********

 

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