REG - RTW Biotech Opp. - Novo Nordisk to acquire Akero Therapeutics

RTW Biotech OpportunitiesAnnouncement

10/10/2025 07:00

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RNS Number : 8249C  RTW Biotech Opportunities Ltd  10 October 2025

LEI: 549300Q7EXQQH6KF7Z84

10 October 2025

RTW Biotech Opportunities Ltd

Novo Nordisk to acquire Akero Therapeutics

 

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 portfolio company Akero Therapeutics, Inc.
("Akero" Nasdaq: AKRO) that it has entered into a definitive agreement to be
acquired by Novo Nordisk A/S ("Novo Nordisk" NYSE: NVO).

 

Akero is a clinical-stage company developing treatments for patients with
serious metabolic diseases marked by high unmet medical need, including
metabolic dysfunction-associated steatohepatitis (MASH). Its lead product
candidate, efruxifermin (EFX), is currently being evaluated in three ongoing
Phase 3 clinical studies.

 

Akero shareholders will receive $54 per share in cash and a non-transferable
Contingent Value Right (CVR), entitling its holder to a cash payment of $6 per
share upon FDA approval of EFX by 30 June 2031. Total consideration is
approximately $5.2 billion and the transaction is expected to close around
year end. The acquisition price represents a 17% premium to Akero's closing
share price on 8 October, prior to the announcement and a 42% premium to
Akero's closing price on 19 May 2025, prior to market speculation. As of 31
August 2025, Akero represented 3.3% of the Company's NAV.

 

Rod Wong, CIO of RTW Investments, said, "Novo Nordisk's acquisition of Akero
confirms the value we saw in EFX in treating serious metabolic diseases.
Akero's shares have performed strongly this year, driven in large part by the
release of unprecedented data from its Phase 2b SYMMETRY study in January
showing reversal of compensated cirrhosis due to MASH. This is the fourth
portfolio take-out since July, following deals for Verona, Alcyone, and Merus.
We expect M&A activity to remain strong as large pharma companies look to
refill revenue pipelines ahead of looming patent expiries."

 

Akero's announcement can be found here
(https://ir.akerotx.com/news-releases/news-release-details/akero-therapeutics-be-acquired-novo-nordisk-52-billion)
.

 

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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