REG - RTW Biotech Opp. - New investment in Yarrow Bioscience

RTW Biotech OpportunitiesAnnouncement

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RNS Number : 0251M  RTW Biotech Opportunities Ltd  18 December 2025

LEI: 549300Q7EXQQH6KF7Z84

18 December 2025

RTW Biotech Opportunities Ltd

New investment in Yarrow Bioscience

·      Series A investment in Yarrow, a private biotech focused on
autoimmune thyroid diseases

·      Yarrow will go public via reverse merger with VYNE Therapeutics,
expected to close in 2Q26

·      RTW Bio investing $5.9 million, equivalent to 0.7% of 30(th)
November NAV

 

RTW Biotech Opportunities Ltd ("RTW Bio"), the London Stock Exchange-listed
investment company focused on identifying transformative assets with high
growth potential across the life sciences sector, is pleased to announce a new
investment in Series A of Yarrow Bioscience, Inc. ("Yarrow"), a clinical-stage
private biotechnology company founded to develop transformative therapies for
autoimmune thyroid diseases.

RTW Bio invested $5.9 million in the Series A financing, representing 0.7% of
NAV as of 30 November. Yarrow is the seventh company creation by RTW
Investments, LP.

Yarrow's lead program is YB-101 (also known as GS-098), a clinical-stage
treatment designed to rapidly and efficiently block the pathogenic activity of
thyroid-stimulating autoantibodies that drive disease progression in Graves'
disease and thyroid eye disease.

On 15 December, Yarrow and RTW Investments announced a global ex-China licence
agreement for YB-101 with Shanghai Scizeng Medical Technology, a subsidiary of
Changchun GeneScience Pharmaceutical ("GenSci"). GenSci is a leading
biopharmaceutical company based in China with a broad pipeline across various
therapeutic areas. The collaboration will focus on building a US-based biotech
dedicated to addressing underserved patients impacted by autoimmune and
endocrinology disorders.

On 17 December, Yarrow announced that it had entered into a definitive merger
agreement with VYNE Therapeutics Inc. (Nasdaq: VYNE), expected to close in the
second quarter of 2026. The combined company will operate as Yarrow
Bioscience, Inc. and trade on the Nasdaq under the ticker symbol "YARW". VYNE
is a clinical-stage biopharmaceutical company developing therapies to treat
inflammatory and immune-mediated conditions with high unmet need. In support
of the merger, a syndicate of industry-leading healthcare investors led by RTW
Investments, LP and OrbiMed Advisors, with participation from Janus Henderson
Investors, venBio Partners, Logos Capital, LifeSci Venture Partners and
Perceptive Advisors, has committed to pre-closing financings totalling
approximately $200 million.

Rod Wong, CIO of RTW Investments commented, "The partnership with GenSci and
merger with VYNE positions Yarrow well to transform treatment options in
Graves' disease and thyroid eye disease. Yarrow's leadership team brings
exceptional scientific and operational expertise, and we look forward to
working closely with them to advance YB-101 and realise its full potential for
patients."

 

The announcement of the licensing agreement can be accessed here
(https://www.businesswire.com/news/home/20251215486834/en/GenSci-and-RTW-Investments-Announce-Strategic-Partnership-on-Anti-TSHR-Antibody-GS-098-YB-101-for-Graves-Disease-and-Thyroid-Eye-Disease-With-Global-Ex-China-Development-Being-Led-by-Yarrow-Bioscience)
and the merger agreement here
(https://vynetherapeutics.com/press-releases/vyne-therapeutics-and-yarrow-bioscience-announce-merger-agreement/)

 

Enquiries:

 RTW Investments, LP - Investment Manager  +44 (0)20 7959 6362

 Oliver Kenyon                             biotechopportunities@rtwfunds.com

 Woody Stileman

 Krisha McCune (Investor Relations)

 Cadarn Capital - PR & IR Partner

 Lucy Clark (PR)                           +44 (0)7984 184 461 / lucy@cadarncapital.com

 David Harris (Distribution)               +44 (0)7368 883 211 / david@cadarncapital.com

 Deutsche Numis - Joint Corporate Broker   +44 (0)20 7260 1000

 Freddie Barnfield

 Nathan Brown

 Duncan Monteith

 BofA Securities - Joint Corporate Broker  +44 (0)20 7628 1000

 Edward Peel

 Alex Penney

 Altum (Guernsey) Limited                  +44 (0)1481 703 100

 Joanna Duquemin Nicolle

 Sadie Morrison

 

About RTW 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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