RTW Biotech Opportunities Ltd New Investment in Series C Round of Evommune, Inc.

RNS Number : 6574K

RTW Biotech Opportunities Ltd

01 November 2024

 

LEI: 549300Q7EXQQH6KF7Z84

01 November 2024

RTW Biotech Opportunities Ltd

New Investment in Series C Round of Evommune, Inc.

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 a new portfolio company investment in Evommune, Inc. ("Evommune"). The Company received a legacy position in Evommune earlier this year when it acquired the assets of Arix Bioscience. This Series C investment signifies the Company's long-term commitment to Evommune's future success.

 

The Company, alongside other investment vehicles managed by RTW Investments, LP (the "Investment Manager"), participated in Evommune's Series C round, raising $115 million to advance a pipeline of assets targeting chronic inflammatory diseases. Proceeds will be used to support advancement of lead clinical programs in chronic urticaria and atopic dermatitis, including multiple Phase 2 studies of EVO756, which plays a pivotal role in mast cell activation and neuroinflammation and has the potential to be a very targeted, safe and effective oral therapeutic option for multiple mast cell-mediated diseases.

 

Evommune is a clinical-stage biotechnology company discovering and developing new ways to treat immune-mediated inflammatory diseases.

 

Roderick Wong, Managing Partner and CIO at the Investment Manager said, "We are thrilled to continue our support for Evommune. We believe in Evommune's vision and their potential to make a significant impact in the lives of patients. Our ongoing investment after acquiring the position in our merger with Arix underscores the value of that transaction and our confidence in their promising pipeline of therapies."

 

The full text of the announcement can be accessed at: https://evommune.com/.

 

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)	[phone]
Lucy Clark (PR)	[e-mail]
David Harris (Distribution)	[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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