REG - RTW Biotech Opp. - Additional Investment in Lycia Therapeutics

RTW Biotech OpportunitiesAnnouncement

15/05/2024 07:00

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RNS Number : 4216O  RTW Biotech Opportunities Ltd  15 May 2024

LEI: 549300Q7EXQQH6KF7Z84

15 May 2024

RTW Biotech Opportunities Ltd

Additional Investment in Lycia Therapeutics

 

 •    Lycia Therapeutics completes $106.6 million Series C financing
 •    Lycia is a leader in extracellular protein degradation
 •    Proceeds to progress lead programmes into the clinic for autoimmune and
      inflammatory diseases

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, Lycia Therapeutics ("Lycia"), of its
completion of a $106.6 million Series C financing round.

 

The Company, alongside other investment vehicles managed by RTW Investments,
LP (the "Investment Manager"), participated in the financing round with other
life science investment firms. The Company first invested in Lycia's Series B
financing round in January 2021. Lycia intends to use the net proceeds to
progress its LYTAC degraders into clinical trials for patients with autoimmune
and inflammatory diseases.

 

Lycia is a biotechnology company using its proprietary lysosomal targeting
chimeras (LYTACs) platform to discover and develop first-in-class therapeutics
that degrade extracellular and membrane-bound proteins that drive a wide range
of difficult-to-treat diseases, including autoimmune and inflammatory
diseases.

 

Josh Kennedy-Smith, PhD, Partner and Research Analyst at the Investment
Manager, said, "Lycia is working at the cutting edge of extracellular protein
degradation, and we are thrilled to continue our support of the company as
they progress the development of multiple LYTAC degraders towards proof of
concept in patients with autoimmune disease."

 

 

The full text of these announcements can be accessed on Lycia's website:
(https://lyciatx.com/lycia-therapeutics-completes-106-6-million-series-c-financing-to-advance-pipeline-of-lytac-extracellular-protein-degraders-to-the-clinic/)
https://lyciatx.com/
(https://lyciatx.com/lycia-therapeutics-completes-106-6-million-series-c-financing-to-advance-pipeline-of-lytac-extracellular-protein-degraders-to-the-clinic/)
.

 

For Further Information

 RTW Investments, LP                                      +44 20 7959 6361
 Woody Stileman, Managing Director, Business Development  biotechopportunities@rtwfunds.com (mailto:biotechopportunities@rtwfunds.com)

 Krisha McCune, Director, Investor Relations

 Buchanan (PR & Communications Adviser)                   +44 20 7466 5107
 Charles Ryland
 Henry Wilson
 George Beale

 Deutsche Numis (Joint Corporate Broker)                  +44 20 7260 1000
 Freddie Barnfield
 Nathan Brown
 Euan Brown

 BofA Securities (Joint Corporate Broker)                 +44 20 7628 1000
 Edward Peel
 Alex Penney

 Cadarn Capital (Distribution & IR Partner)               +44 73 6888 3211
 David Harris

 Elysium Fund Management Limited                          +44 14 8181 0100

 Joanna Duquemin Nicolle, Chief Executive Officer

 Sadie Morrison, Managing Director

 Morgan Stanley Fund Services USA LLC                     +1 914 225 8885

 

About 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 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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***********

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