TIDMRTW
RNS Number : 1453G
RTW Biotech Opportunities Ltd
17 July 2023
LEI: 549300Q7EXQQH6KF7Z84
17 July 2023
RTW Biotech Opportunities Ltd
Portfolio Company Update: Apogee Therapeutics IPO
Apogee executes successful $300 million IPO
RTW Biotech Opportunities Ltd (the "Company"), a London Stock
Exchange-listed investment company focused on identifying
transformative assets with high growth potential across the
biopharmaceutical and medical technology sectors, is pleased to
note the announcement by one of its portfolio companies, Apogee
Therapeutics, Inc. ("Apogee") regarding its pricing of an upsized
$300 million initial public offering ("IPO") and admission to trade
on Nasdaq Global Market under ticker "APGE".
Apogee is a pre-clinical biotechnology company seeking to
develop differentiated biologics for the treatment of atopic
dermatitis ("AD"), chronic obstructive pulmonary disease ("COPD"),
and other inflammatory and immunology indications with high unmet
need. Its two lead product candidates, APG777 and APG808, are being
developed for the treatment of AD and COPD.
Prior to IPO, the Company, together with other funds managed by
RTW Investments, LP (the "Investment Manager"), co-led Apogee's
$149 million Series B financing round in December 2022.
Apogee's IPO raised $300 million by offering 17,650,000 shares
at $17.00 per share. On the first day of trading, Apogee's share
price traded up by 24.9% to close at $21.23 per share. At 30 June
2023, Apogee represented 0.6% of the Company's NAV.
Roderick Wong, MD, Managing Partner and Chief Investment Officer
at the Investment Manager, said:
"Despite challenging capital markets, we continue to see good
companies backed by promising science resonate with investors.
Apogee's IPO is the third in our portfolio so far this year (and
fifth go-public event). As full life cycle investors, we are
excited to continue to partner with the team in its efforts to
develop new treatments for patients with inflammatory conditions.
We also hope that such a strong market debut from a pre-clinical
company may presage a better IPO environment ahead."
Apogee's IPO pricing announcement can be accessed on its website
at: www.apogeetherapeutics.com.
For Further Information
RTW Investments, LP +44 (0)20 7959 6361
Woody Stileman, Managing Director
Krisha McCune, Director, Client Service
biotechopportunities@rtwfunds.com
Buchanan Communications +44 (0)20 7466 5107
Charles Ryland
Henry Wilson
Numis +44 20 7260 1000
Freddie Barnfield
Nathan Brown
Euan Brown
BofA Securities +44 20 7628 1000
Edward Peel
Kieran Millar
Cadarn Capital
David Harris +44 73 6888 3211
About RTW Biotech Opportunities Ltd:
RTW Biotech Opportunities Ltd (LSE: RTW & RTWG) is an
investment fund focused on identifying transformative assets with
high growth potential across the life sciences sector. 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 RTW website at www.rtwfunds.com for more
information.
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The information in this announcement may include forward-looking
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date of its publication (unless otherwise marked). No reliance may
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contained in this announcement or on its completeness, accuracy or
fairness.
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