REG - RTW Biotech Opp. - Additional Investment in Portfolio Company

RTW Biotech OpportunitiesAnnouncement

04/09/2023 11:00

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RNS Number : 2844L  RTW Biotech Opportunities Ltd  04 September 2023

LEI: 549300Q7EXQQH6KF7Z84

04 September 2023

RTW Biotech Opportunities Ltd

Additional Investment in Portfolio Company

·      RTW Biotech Opportunities participates in a $100M Series D in
Beta Bionics, Inc., a portfolio company

RTW Biotech Opportunities Ltd (the "Company"), a London Stock Exchange-listed
investment fund focused on identifying transformative assets with high growth
potential across the life sciences sector, is pleased to note the announcement
by its portfolio company Beta Bionics, Inc. ("Beta Bionics") that it has
secured $100 million in funding to advance diabetes technology and redefine
diabetes management with its iLet Bionic Pancreas.

Beta Bionics is a medical technology company focused on the design,
development, and commercialisation of the iLet Bionic Pancreas, an autonomous
insulin delivery system that streamlines diabetes management and reduces the
burden on patients and physicians. The Series D funding is expected to help
further develop and test the bionic pancreas as well as expand access.

Beta Bionics has been a part of the Company's portfolio since its launch
on 30 October 2019. Previously, the Company together with other funds
managed by RTW Investments, LP (the "Investment Manager") and other
investment firms co-led a $57 million Series C financing round in Beta
Bionics in February 2022.

"We're proud to continue to support the Beta Bionics team in their mission
to improve the health outcomes and quality of life for people living with
diabetes," said Roderick Wong, MD, Managing Partner and Chief Investment
Officer of RTW Investments, LP, the Investment Manager.

The full text of the announcement is contained below.

For Further Information:

 RTW Investments, LP                                +44 20 7959 6361
 Woody Stileman, Managing Director

 Krisha McCune, Director, Client Service

 Buchanan                                           +44 20 7466 5107
 Charles Ryland
 Henry Wilson
 George Beale

 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

 Elysium Fund Management Limited                    +44 (0) 14 8181 0100

 Joanna Duquemin Nicolle, Chief Executive Officer

 Sadie Morrison, Managing Director

 Morgan Stanley Fund Services USA LLC               +1 914 225 8885

 

 

About RTW 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",
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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.

 

Beta Bionics Secures $100 Million in Series D Funding to Advance Diabetes
Technology and Expand Market Presence

CONCORD, Mass., August 30, 2023: Beta Bionics, Inc., a pioneering leader in
the development of advanced diabetes management solutions, is thrilled to
announce the successful closure of its Series D funding round securing $100
million in new equity capital.

The Series D funding was co-led by new investors Sands Capital and Omega Funds
with an additional new investor, Marshall Wace, also participating. Previous
investors Soleus Capital, Eventide Asset Management LLC, Farallon Capital,
Perceptive Advisors, certain funds managed by RTW Investments, LP, ArrowMark
Partners, and Pura Vida Investments also participated.

Sean Saint, CEO of Beta Bionics, "This significant investment represents a
powerful vote of confidence in Beta Bionics' mission to redefine diabetes
management with user-centric technologies. We are deeply grateful to our
investors for recognizing the immense potential of our products. We are eager
to push the boundaries of what's possible by expanding access to the iLet
Bionic Pancreas nationwide and further develop and test the bi-hormonal bionic
pancreas."

"We're excited to support the Beta Bionics team as they work to launch and
develop breakthrough technologies that help reduce the burden of diabetes,"
said Parker Cassidy, Partner, Sands Capital Ventures.

"Our ability to secure this capital is a testament to iLet's competitive
differentiation and our financial discipline," said Stephen Feider, CFO of
Beta Bionics. "Thank you to the investors for believing in our team and the
mission."

Beta Bionics' flagship product, the iLet Bionic Pancreas, is an autonomous
insulin delivery system that streamlines diabetes management and reduces the
burden on patients and physicians. The only input required to get started is
the user's weight - the iLet does the rest. Healthcare providers no longer
need to determine complex settings including correction factors,
insulin-to-carb ratios or pre-set basal rates. When iLet users "GO BIONIC"
with their diabetes management, there's no carb counting* or calculating
insulin corrections throughout the day - the iLet determines 100% of the
insulin doses.

 

*User must be carb aware

About Beta Bionics

Beta Bionics is a medical technology company focused on the design,
development, and commercialization of its iLet Bionic Pancreas in both the
single hormone and bi-hormonal configurations. The iLet Bionic Pancreas
platform is designed to use adaptive, self-learning, control algorithms,
together with continuous glucose monitoring and pump technology, to
autonomously compute and administer doses of insulin and/or glucagon and mimic
the body's natural ability to maintain tight glycemic control, relieving some
of the burden of living with diabetes. To learn more, visit
www.betabionics.com.

Beta Bionics is a for-profit, public benefit corporation and Certified B
Corporation. Since its founding in 2015, its mission has been to help improve
health outcomes and the quality of life of children and adults living with
diabetes and other conditions of glycemic dysregulation.

 

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