LEI:
549300Q7EXQQH6KF7Z84
15 January
2025
RTW Biotech Opportunities
Ltd
Monthly Valuation Update and
Factsheet
-8.4% 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 31 December 2024 (the "NAV") was US$606.9 million, or US$1.81
per ordinary share, -8.4% from the previous month.
The monthly factsheet
with quarterly letter is available on the Company's
website:
https://www.rtwfunds.com/rtw-biotech-opportunities-ltd/factsheets-letters/
Highlights from the
Investment Manager's quarterly letter:
· The Russell 2000
Biotech Index was +2.5% for the year and remains below levels first
reached in 2018, while the number of listed biotech companies
trading at negative enterprise value remains at historic
highs.
· Interest rate
worries dominated, while the results of the first round of
Inflation Reduction Act (IRA) drug negotiations were on the better
end of expectations.
· The uncertainty
surrounding RFK Jr's nomination as Trump's Secretary of Health and
Human Services (HHS) became a new reason for some to stay on the
sidelines. Considering the scope of the job, guardrails, and
players surrounding him, we currently don't expect a change in
direction when it comes to FDA's pro-innovation trend.
· M&A was too
small to get things going. While billion-dollar-plus
acquisition volumes remain near record highs, dollar value dropped
to $45B vs $145B in 2023. Despite this, we don't think this
spells doom for larger late-stage deals. Merck, Bristol, Roche,
Novartis and Sanofi are still on the hunt for revenues this decade
and Lilly and Novo are sure to get more aggressive as their obesity
revenues grow. IPOs made incremental progress towards
normalisation. Consolidation also continued.
· The FDA approved
56 novel drugs this year, shy of last year's record-setting 61, but
still one of the highest in history.
· The sector has
outperformed the S&P500 in two of the past three Republican
first terms, and we would expect no different an outcome today,
given the promising science our team are evaluating
daily.
· RTW-founded
Corxel announced two significant transactions in December. It
sold its China Aficamten rights to Sanofi and in-licensed ex-China
rights to CX11, an oral small molecule GLP-1 for
obesity.
· Obesity remains a
significant priority for us in 2025. With an exciting portfolio of
private obesity assets, RTW Bio is unique among listed investment
companies for shareholders looking for exposure to the
area.
· To learn more
about the science, impact, evolving competitive landscape, and the
opportunities we see, please check out our podcast: "The $1
Trillion GLP-1 Revolution":
https://www.rtwfunds.com/news-events/insights/the-1-trillion-glp-1-revolution-with-rod-wong/
For
Further Information
|
RTW
Investments, LP
|
+44
20 7959 6361
|
|
Woody Stileman, Managing Director,
Business Development
Krisha McCune, Director, Investor
Relations
|
biotechopportunities@rtwfunds.com
|
|
Cadarn Capital (PR & Communications / Distribution &
IR Partner)
Lucy Clark (PR)
David Harris
(Distribution)
Deutsche Numis (Joint Corporate Broker)
|
+44
79 8418 4461
Lucy@cadarncapital.com
+44
73 6888 3211
david@cadarncapital.com
+44
20 7260 1000
|
|
Freddie Barnfield
|
|
|
Nathan Brown
|
|
|
Euan Brown
|
|
|
BofA Securities (Joint Corporate Broker)
|
+44
20 7628 1000
|
|
Edward Peel
|
|
|
Alex Penney
|
|
|
|
|
|
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 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.
***********
