RTW Venture Fund Limited March Factsheet & First Quarter Letter (2631X)

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RNS Number : 2631X

RTW Venture Fund Limited

24 April 2023

LEI: 549300Q7EXQQH6KF7Z84

24 April 2023

RTW Venture Fund Limited

March Factsheet & First Quarter Letter

-2.7% NAV Return for the Quarter Ended 31 March 2023

RTW Venture Fund Limited (the "Company"), the London Stock Exchange Premium Listed investment fund focused on identifying transformative assets with high growth potential across the biopharmaceutical and medical technology sectors is pleased to announce that the March Factsheet and First Quarter 2023 Letter are available on the Company's website.

Developments in the quarter:

-- The Russell 2000 Biotech Index (-8.0%) and the Nasdaq Biotech Index (-2.1%) fell over the quarter despite significant M&A in the sector.

-- Cincor was acquired by AstraZeneca for a total deal value of $1.8bn, a 206% premium to the prior closing value.

-- Orchestra BioMed merged with RTW's Health Sciences Acquisitions Corporation and started trading on Nasdaq.

-- Mineralys went public through an upsized IPO and traded well on debut.

-- The Company co-led private financing rounds in two cell therapy companies: Orciell Therapeutics and Cargo Therapeutics.

-- Milestone announced a $125m strategic financing deal with RTW-managed funds include the Company

-- Avidity announced that discussions with the FDA were ongoing regarding the partial clinical hold of it Phase 1/2 clinical trial for AOC1001.

-- After the quarter end, Prometheus Biosciences, the Company's largest position was acquired by Merck for $10.8bn, a 75% premium to the prior closing value.

For Further Information:

 
 RTW Investments, LP                                 [phone] 
 Woody Stileman, Managing Director 
  Krisha McCune, Director, Client Service 
 
 Buchanan                                            [phone] 
 Charles Ryland 
 Henry Wilson 
 George Beale 
 
 Numis                                               [phone] 
 Freddie Barnfield 
 Nathan Brown 
 Euan Brown 
 
 BofA Securities                                     [phone] 
 Edward Peel 
 Kieran Millar 
 
 Elysium Fund Management Limited                     [phone] 
 Joanna Duquemin Nicolle, Chief Executive Officer 
 Sadie Morrison, Managing Director 
 
 Morgan Stanley Fund Services USA LLC                [phone] 
 

About RTW Venture Fund Limited:

RTW Venture Fund Limited (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 Venture Fund invests in companies developing next-generation therapies and technologies that can significantly improve patients' lives.

RTW Venture Fund Limited 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 RTW website at www.rtwfunds.com for more information.

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April 24, 2023 09:39 ET (13:39 GMT)