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RNS Number : 2491O RTW Biotech Opportunities Ltd 14 May 2024
LEI: 549300Q7EXQQH6KF7Z84
14 May 2024
RTW Biotech Opportunities Ltd
Monthly Valuation Update and Factsheet
-9.7% NAV movement for the month
RTW Biotech Opportunities Ltd (the "Company") announces that the unaudited net
asset value attributable to the ordinary shares of the Company at the close of
business on 30 April 2024 (the "NAV") was US$591.7 million, or US$1.76 per
ordinary share, -9.7% from the previous month.
The monthly factsheet is available on the Company's website:
https://www.rtwfunds.com/rtw-biotech-opportunities-ltd/factsheets-letters/
(https://www.rtwfunds.com/rtw-biotech-opportunities-ltd/factsheets-letters/)
Roderick Wong, M.D., Managing Partner and Chief Investment Officer of RTW
Investments, said:
"No company specific events contributed materially in April. This was the
worst month for the Russell 2000 Biotech Index since April 2022. Overall, the
sector has given back the 20% gain since the Federal Reserve's dovish pivot on
14(th) December last year. This is despite the second largest biotech
acquisition of 2023 (Bristol's $12.7B for Karuna) and continued leadership
from obesity giants Lilly and Novo in the meantime. While we are never happy
to give up gains, we are seeing ample opportunity despite the macro
uncertainty. Over the medium term we strongly believe that cheap genetic
information and the maturation of new modalities should continue to produce
record numbers of new therapies, while Lilly and Novo's success should benefit
the sector as a whole as they begin to redeploy their growing cash flows. We
expect a busy year with an above average number of meaningful events. In
addition, we are seeing a significant pipeline of private opportunities,
including for creative dealmaking."
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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