REG - RTW Biotech Opp. - Evommune announces $150 million IPO

RTW Biotech OpportunitiesAnnouncement

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RNS Number : 5844G  RTW Biotech Opportunities Ltd  07 November 2025

LEI: 549300Q7EXQQH6KF7Z84

7 November 2025

RTW Biotech Opportunities Ltd

Evommune announces $150 million IPO

·      Private investment Evommune completes IPO on the New York Stock
Exchange, raising $150 million

·      IPO price represented 22% step-up to holding value and 102%
step-up from cost

·      As at 30 September, Evommune represented 1.04% of NAV

 

RTW Biotech Opportunities Ltd (the "Company"), the London Stock
Exchange-listed investment company focused on identifying transformative
assets with high growth potential across the life sciences sector, is pleased
to note the announcement by one of its private portfolio companies, Evommune,
Inc. ("Evommune") regarding its pricing of a $150 million initial public
offering ("IPO"). Evommune began trading yesterday on the New York Stock
Exchange under the ticker "EVMN".

Evommune's IPO raised $150 million by offering 9.4 million shares at $16 per
share. This valuation represents a 22% step-up from the Company's prior
holding value and a 102% step-up from the cost at the time of acquisition
through the Arix transaction. On the first day of trading, the stock traded up
26% to close at $20.23 per share.  As of 30 September 2025, Evommune
represented 1.04% of the Company's NAV.

Evommune is a clinical-stage biotechnology company developing innovative
therapies that target key drivers of chronic inflammatory diseases. The Palo
Alto-based company has two experimental medicines in Phase 2 trials across a
variety of autoimmune conditions. Its lead program, EVO756, is in mid-stage
testing for chronic spontaneous urticaria (hives) and atopic dermatitis.

Rod Wong, CIO of RTW Investments, said, "We are excited to see Evommune reach
this significant milestone, which we believe will further accelerate its
mission to improve patient outcomes and advance novel therapies. Evommune's
IPO again demonstrates the latent value potential in our private portfolio,
along with the recent acquisitions of Alcyone and Numab at material uplifts to
carrying value."

 

Evommune's announcement can be found here
(https://ir.evommune.com/news-events/press-releases/detail/116/evommune-announces-pricing-of-its-initial-public-offering)
.

 

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

 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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