RTW Biotech Opportunities Ltd CORXEL Announces Acceptance of NDA for Aficamten

RNS Number : 3148M

RTW Biotech Opportunities Ltd

15 November 2024

 

LEI: 549300Q7EXQQH6KF7Z84

15 November 2024

RTW Biotech Opportunities Ltd

CORXEL Announces Acceptance of NDA for Aficamten

RTW Biotech Opportunities Ltd (the "Company"), a 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, CORXEL Pharmaceuticals ("CORXEL"), of the acceptance by China's National Medical Products Administration (NMPA) of the New Drug Application (NDA) for Aficamten for the treatment of obstructive hypertrophic cardiomyopathy (HCM).

Aficamten is an investigational, next-in-class selective small molecule cardiac myosin inhibitor. It received Breakthrough Therapy Designation for the treatment of symptomatic obstructive HCM from the U.S. Food & Drug Administration (FDA) as well as the NMPA. HCM is a genetic heart disease in which the heart muscle becomes abnormally thick and ultimately limits the heart's pumping function. It is the most common inherited cardiovascular disorder, with approximately 132,000-330,000 patients diagnosed in China and an estimated 748,000-1,870,000 who remain undiagnosed.

 

CORXEL, formerly called Ji Xing Pharmaceuticals, is a leading biotech company committed to bringing innovative science and medicines to underserved patients with cardiometabolic diseases. CORXEL was founded and launched by RTW Investments (the "Investment Manager") in 2019. In July 2020, CORXEL entered into a license and collaboration agreement with Cytokinetics, a late-stage biopharmaceutical company headquartered in California, pursuant to which Cytokinetics granted CORXEL an exclusive license to develop and commercialise Aficamten in Greater China.

 

Roderick Wong, Managing Partner and CIO at the Investment Manager commented on the news, "We are thrilled to see the acceptance of the NDA for Aficamten, a significant milestone for CORXEL and a testament to its commitment to bringing innovative therapies to patients with cardiometabolic diseases. This achievement underscores the dedication and hard work of the CORXEL team. We look forward to continuing to support them in their efforts to deliver groundbreaking treatments that address unmet medical needs and improve patient outcomes."

The full text of the announcement can be accessed here.

 For Further Information

RTW Investments, LP	[phone]
Woody Stileman, Managing Director, Business Development   Krisha McCune, Director, Investor Relations	[e-mail]
Cadarn Capital (PR & Communications / Distribution & IR Partner)   Lucy Clark (PR)   David Harris (Distribution)	[phone] [e-mail] [phone] [e-mail]
Deutsche Numis (Joint Corporate Broker)   Freddie Barnfield	[phone]
Nathan Brown
Euan Brown
BofA Securities (Joint Corporate Broker)	[phone]
Edward Peel
Alex Penney
Elysium Fund Management Limited   Joanna Duquemin Nicolle, Chief Executive Officer   Sadie Morrison, Managing Director	[phone]
Morgan Stanley Fund Services USA LLC	[phone]

 

About 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 for more information.

 

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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.

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