REG - RTW Biotech Opp. - Material Update from Portfolio Company

RTW Biotech OpportunitiesAnnouncement

28/01/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250128:nRSb8669Ua&default-theme=true

RNS Number : 8669U  RTW Biotech Opportunities Ltd  28 January 2025

LEI: 549300Q7EXQQH6KF7Z84

28 January 2025

RTW Biotech Opportunities Ltd

Material Update from Portfolio Company

Akero Therapeutics reports unprecedented results showing statistically
significant

reversal of compensated cirrhosis due to MASH in Phase 2b study

 

RTW Biotech Opportunities Ltd (the "Company", "RTW Bio"), 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 an announcement from portfolio company, Akero Therapeutics ("Akero",
Nasdaq: AKRO), a clinical-stage company developing transformational treatments
for patients with serious metabolic diseases marked by high unmet medical
need, including metabolic dysfunction-associated steatohepatitis (MASH).

 

On 27 January, Akero released preliminary topline results from its Phase 2b
study evaluating the efficacy and safety of its lead product candidate,
efruxifermin (EFX) in patients with compensated cirrhosis due to MASH. Among
patients with baseline and week 96 biopsies, 39% of the 50mg EFX group
(p=0.009) demonstrated ≥1 stage improvement in fibrosis with no worsening of
MASH, representing a 24% effect size over placebo at 15%. By ITT analysis,
with all missing week 96 biopsies treated as failures, 29% of the 50mg EFX
group (p=0.031) demonstrated ≥1 stage improvement in fibrosis with no
worsening of MASH, representing a 17% effect size over placebo at 12%. With
more than a doubling of effect size from weeks 36 to 96 the study underscores
the benefit of longer EFX treatment for patients with compensated cirrhosis.
EFX is well tolerated with adverse events similar to previously reported EFX
trials, most frequently diarrhea, nausea and increased appetite, which were
transient in nature. Before these results, no other compound had shown a
statistically significant reversal of cirrhosis due to MASH in a clinical
trial.

 

Cirrhosis due to MASH is a high unmet need disease, with an estimated 5-year
mortality rate of 50% without a liver transplant. By 2030, an estimated 3
million Americans are projected to have MASH cirrhosis, which is the fastest
growing cause of liver transplants and liver cancer in the United States and
Europe.

 

Akero represented 5.2% of NAV as of 31 December. At close of business on 27
January, Akero shares were up +97.5%. Akero's data are important for 89bio
(Nasdaq: "ETNB") which is also testing an FGF21 analog in MASH with severe
scarring. Data from the Phase 3 ENLIGHTEN-Cirrhosis study of pegozafermin in
this population will not come until around 2028. Shares in 89Bio (1.2% of NAV
at 31 December 2024) were up +26.2% at close of business.

 

Roderick Wong, Managing Partner and CIO at RTW Investments, LP, the Investment
Manager ("RTW") said, "This is exciting news for patients, as Akero is the
first and only company to show it can reverse cirrhosis due to MASH, a disease
that can be as deadly as cancer, making it one of most important new
therapeutic treatment categories."

 

The full text of the announcement can be accessed at

https://www.akerotx.com/
(https://ir.akerotx.com/news-releases/news-release-details/akero-therapeutics-reports-preliminary-topline-results-showing)
/

 

 

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

 Cadarn Capital (PR & Communications/Distribution & IR Partner)           +44 79 8418 4461
                                                                           Lucy@cadarncapital.com (mailto:Lucy@cadarncapital.com)

 Lucy Clark (PR)

 David Harris (Distribution)                                              +44 73 6888 3211

                                                                          david@cadarncapital.com

 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

 Elysium Fund Management Limited                                           +44 14 8170 3100

 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) 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.

 

***********

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.

***********

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  PFUFFFIFLDIDFIE