REG - RTW Biotech Opp. - New Investment in Series C Round of Evommune, Inc.

RTW Biotech OpportunitiesAnnouncement

01/11/2024 14:00

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RNS Number : 6574K  RTW Biotech Opportunities Ltd  01 November 2024

LEI: 549300Q7EXQQH6KF7Z84

01 November 2024

RTW Biotech Opportunities Ltd

New Investment in Series C Round of Evommune, Inc.

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 a new
portfolio company investment in Evommune, Inc. ("Evommune"). The Company
received a legacy position in Evommune earlier this year when it acquired the
assets of Arix Bioscience. This Series C investment signifies the Company's
long-term commitment to Evommune's future success.

 

The Company, alongside other investment vehicles managed by RTW Investments,
LP (the "Investment Manager"), participated in Evommune's Series C round,
raising $115 million to advance a pipeline of assets targeting chronic
inflammatory diseases. Proceeds will be used to support advancement of lead
clinical programs in chronic urticaria and atopic dermatitis, including
multiple Phase 2 studies of EVO756, which plays a pivotal role in mast cell
activation and neuroinflammation and has the potential to be a very targeted,
safe and effective oral therapeutic option for multiple mast cell-mediated
diseases.

 

Evommune is a clinical-stage biotechnology company discovering and developing
new ways to treat immune-mediated inflammatory diseases.

 

Roderick Wong, Managing Partner and CIO at the Investment Manager said, "We
are thrilled to continue our support for Evommune. We believe in Evommune's
vision and their potential to make a significant impact in the lives of
patients. Our ongoing investment after acquiring the position in our merger
with Arix underscores the value of that transaction and our confidence in
their promising pipeline of therapies."

 

The full text of the announcement can be accessed at:
(https://www.evommune.com/wp-content/uploads/2024/10/22_Evommune_Series_C_Press_Release.pdf)
https://evommune.com/
(https://www.evommune.com/wp-content/uploads/2024/10/22_Evommune_Series_C_Press_Release.pdf)
.

 

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)

 Freddie Barnfield                                                        +44 20 7260 1000

 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.

 

***********

The information in this announcement may include forward-looking statements,
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***********

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