RTW Biotech Opp. - Investment Update
08/01/2024 09:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240108:nRSH9421Ya&default-theme=true
RNS Number : 9421Y RTW Biotech Opportunities Ltd 08 January 2024
LEI: 549300Q7EXQQH6KF7Z84
8th January 2024
RTW Biotech Opportunities Ltd
· Bayer AG and RTW Investments, LP lead the $162 million initial
closing of the Series D financing in Chinese biotech Ji Xing Pharmaceuticals
· Bayer AG collaboration to focus on cardiovascular diseases and
ophthalmology in China
RTW Biotech Opportunities Ltd (the "Company"), a London Stock Exchange-listed
investment fund focused on identifying transformative biotech assets with high
growth potential across the life sciences sector, is pleased to note the
announcement on 6(th) January regarding portfolio company Ji Xing
Pharmaceuticals Limited ("JIXING") and its Series D preferred stock financing
and strategic partnership with Bayer AG ("Bayer") and RTW Investments, LP
("RTW"). Bayer and RTW announced an equity investment in JIXING amounting to
USD $35 million and USD $127 million respectively, alongside a new strategic
collaboration focused on cardiovascular diseases and ophthalmology in China.
The Series D financing will strengthen JIXING's capabilities in development
and commercialisation. Bayer and JIXING will also form a joint portfolio
strategy committee to pursue additional business development opportunities,
and Xiaolan Zhou, Executive Vice President, Pharmaceuticals Division, Bayer
AG, President of Bayer Pharmaceuticals China, President of Bayer Greater
China, will join JIXING's Board of Directors.
Founded and backed by RTW, JIXING is a clinical-stage biopharmaceutical
company committed to bringing innovative medicines to underserved patients
with serious and life-threatening diseases. As of 30 November 2023, JIXING
represented 9.1% of the Company's net asset value, its largest private
position.
Roderick Wong, MD, Managing Partner and Chief Investment Officer of RTW
Investments, LP said:
"JIXING is on an exciting growth trajectory, driven by a world-class research
and development team with a unique understanding of how to most effectively
deliver innovative therapies that address complicated diseases to millions of
patients in China and beyond. We believe JIXING is well-positioned to achieve
its mission to bring breakthrough therapeutics to millions of people across
China, and this latest development will provide JIXING with additional support
and guidance from one of the world's largest and most renowned pharmaceutical
and biomedical companies with deep experience in the cardiovascular and
ophthalmology fields."
Click here for the full text of the press release
(https://www.bayer.com/media/en-us/bayer-and-rtw-investments-lead-series-d-financing-in-chinese-biotech-ji-xing-pharmaceuticals/)
.
For further information:
RTW Investments, LP +44 (0)20 7959 6361
Woody Stileman, MD, Business Development
Krisha McCune, Director, IR
biotechopportunities@rtwfunds.com (mailto:biotechopportunities@rtwfunds.com)
+44 (0)20 7466 5107
Buchanan Communications
Charles Ryland
Henry Wilson
Numis +44 20 7260 1000
Freddie Barnfield
Nathan Brown
Euan Brown
BofA Securities +44 20 7628 1000
Edward Peel
Kieran Millar
Cadarn Capital +44 73 6888 3211
David Harris
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.
***********
The information in this announcement may include forward-looking statements,
which are based on the current expectations and projections about future
events, and in certain cases can be identified by the use of terms such as
"may", "will", "should", "expect", "anticipate", "project", "estimate",
"intend", "continue", "target", "believe" (or the negatives thereon) or other
variations thereon or comparable terminology. These forward-looking
statements, as well as those included in any related materials, are subject to
risks, uncertainties and assumptions about the Company and/or its underlying
investments, including, among other things, the development of the applicable
entity's business, trends in its operating industry, expected use of financing
proceeds and future capital expenditures and acquisitions. In light of these
risks, uncertainties and assumptions, the events in the forward-looking
statements may not occur.
The information contained in this announcement is given at the date of its
publication (unless otherwise marked). No reliance may be placed for any
purpose whatsoever on the information or opinions contained in this
announcement or on its completeness, accuracy or fairness.
***********
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END UPDFIFSTLIITIIS