RTW Biotech Opportunities Ltd Investment Update (9421Y)
08 Januar 2024 - 10:00AM
UK Regulatory
TIDMRTW
RNS Number : 9421Y
RTW Biotech Opportunities Ltd
08 January 2024
LEI: 549300Q7EXQQH6KF7Z84
8th January 2024
RTW Biotech Opportunities Ltd
-- Bayer AG and RTW Investments, LP lead the $162 million
initial closing of the Series D financing in Chinese biotech Ji
Xing Pharmaceuticals
-- Bayer AG collaboration to focus on cardiovascular diseases and ophthalmology in China
RTW Biotech Opportunities Ltd (the "Company"), a London Stock
Exchange-listed investment fund focused on identifying
transformative biotech assets with high growth potential across the
life sciences sector, is pleased to note the announcement on 6(th)
January regarding portfolio company Ji Xing Pharmaceuticals Limited
("JIXING") and its Series D preferred stock financing and strategic
partnership with Bayer AG ("Bayer") and RTW Investments, LP
("RTW"). Bayer and RTW announced an equity investment in JIXING
amounting to USD $35 million and USD $127 million respectively,
alongside a new strategic collaboration focused on cardiovascular
diseases and ophthalmology in China. The Series D financing will
strengthen JIXING's capabilities in development and
commercialisation. Bayer and JIXING will also form a joint
portfolio strategy committee to pursue additional business
development opportunities, and Xiaolan Zhou, Executive Vice
President, Pharmaceuticals Division, Bayer AG, President of Bayer
Pharmaceuticals China, President of Bayer Greater China, will join
JIXING's Board of Directors.
Founded and backed by RTW, JIXING is a clinical-stage
biopharmaceutical company committed to bringing innovative
medicines to underserved patients with serious and life-threatening
diseases. As of 30 November 2023, JIXING represented 9.1% of the
Company's net asset value, its largest private position.
Roderick Wong, MD, Managing Partner and Chief Investment Officer
of RTW Investments, LP said:
"JIXING is on an exciting growth trajectory, driven by a
world-class research and development team with a unique
understanding of how to most effectively deliver innovative
therapies that address complicated diseases to millions of patients
in China and beyond. We believe JIXING is well-positioned to
achieve its mission to bring breakthrough therapeutics to millions
of people across China, and this latest development will provide
JIXING with additional support and guidance from one of the world's
largest and most renowned pharmaceutical and biomedical companies
with deep experience in the cardiovascular and ophthalmology
fields."
Click here for the full text of the press release .
For further information:
RTW Investments, LP +44 (0)20 7959 6361
Woody Stileman, MD, Business
Development
Krisha McCune, Director, IR
biotechopportunities@rtwfunds.com
+44 (0)20 7466 5107
Buchanan Communications
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 +44 73 6888 3211
David Harris
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 for more information.
***********
The information in this announcement may include forward-looking
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***********
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