REG - RTW Biotech Opp. - Portfolio Company Numab Therapeutics Update

RTW Biotech OpportunitiesAnnouncement

11/06/2024 07:00

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RNS Number : 8655R  RTW Biotech Opportunities Ltd  11 June 2024

LEI: 549300Q7EXQQH6KF7Z84

11 June 2024

RTW Biotech Opportunities Ltd

Acquisition by J&J of Portfolio Company Numab Therapeutics

 

 •    Numab Therapeutics AG announced Johnson & Johnson will acquire its
      wholly-owned subsidiary
 •    Johnson & Johnson will pay $1.25 billion in cash to acquire Yellow Jersey
      Therapeutics
 •    Transaction results in a 2.86x uplift in position's holding value from 30(th)
      April NAV

 

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 on 28(th) May by one of its portfolio companies, Numab
Therapeutics AG ("Numab"), of the proposed acquisition of its wholly-owned
subsidiary, Yellow Jersey Therapeutics, by Johnson & Johnson ("J&J")
for $1.25 billion in cash. Yellow Jersey Therapeutics holds the rights to
Numab's NM26, a first-in-class, bi-specific antibody targeting two clinically
proven pathways in atopic dermatitis, the most common inflammatory skin
disease.

 

The Company first invested in Numab's Series C in May 2021. The value of the
position at the 31(st) May NAV, to be published later this week, is estimated
to be $4.49m, compared to $1.57m at 30(th) April, the last published NAV prior
to the transaction. The change in valuation is on a risk-adjusted basis to
account for uncertainties with respect to closing and post-closing
considerations. The transaction is expected to close in the second half of
2024.

 

Chris Liu, PhD, Senior Research Analyst at the Investment Manager, said, "This
transaction underscores the growing significance of innovative bi-specific
antibodies in addressing complex medical needs. It also demonstrates large
pharma's strategic interest in immunology assets driven in part by validated
mechanisms of action and large market opportunities at a time when patent
cliffs will soon start to bite."

 

The full text of these announcements can be accessed on Numab's and J&J's
websites: https://numab.com/ and https://www.jnj.com/
(https://www.jnj.com/media-center/press-releases/johnson-johnson-to-obtain-rights-to-a-clinical-stage-bispecific-antibody-to-address-distinct-patient-needs-in-atopic-dermatitis)

 

 

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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