March Factsheet & First Quarter Letter
LEI: 549300Q7EXQQH6KF7Z84
24 April 2023
RTW Venture Fund Limited
March Factsheet & First Quarter Letter
-2.7% NAV Return for the Quarter Ended 31 March 2023
RTW Venture Fund Limited (the "Company"), the London Stock Exchange Premium Listed investment fund focused on identifying transformative assets with high growth potential across the biopharmaceutical and medical technology sectors is pleased to announce that the March Factsheet and First Quarter 2023 Letter are available on the Company's website.
Developments in the quarter:
§ The Russell 2000 Biotech Index (-8.0%) and the Nasdaq Biotech Index (-2.1%) fell over the quarter despite significant M&A in the sector.
§ Cincor was acquired by AstraZeneca for a total deal value of $1.8bn, a 206% premium to the prior closing value.
§ Orchestra BioMed merged with RTW's Health Sciences Acquisitions Corporation and started trading on Nasdaq.
§ Mineralys went public through an upsized IPO and traded well on debut.
§ The Company co-led private financing rounds in two cell therapy companies: Orciell Therapeutics and Cargo Therapeutics.
§ Milestone announced a $125m strategic financing deal with RTW-managed funds include the Company
§ Avidity announced that discussions with the FDA were ongoing regarding the partial clinical hold of it Phase 1/2 clinical trial for AOC1001.
§ After the quarter end, Prometheus Biosciences, the Company's largest position was acquired by Merck for $10.8bn, a 75% premium to the prior closing value.
For Further Information:
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RTW Investments, LP |
+44 (0)20 7959 6361 |
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Woody Stileman, Managing Director Krisha McCune, Director, Client Service |
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Buchanan |
+44 (0)20 7466 5107 |
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Charles Ryland |
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Henry Wilson |
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George Beale |
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Numis |
+44 (0)20 7260 1000 |
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Freddie Barnfield |
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Nathan Brown |
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Euan Brown |
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BofA Securities |
+44 (0) 20 7628 1000 |
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Edward Peel |
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Kieran Millar |
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Elysium Fund Management Limited |
+44 (0) 14 8181 0100 |
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Joanna Duquemin Nicolle, Chief Executive Officer |
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Sadie Morrison, Managing Director |
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Morgan Stanley Fund Services USA LLC |
+1 (914) 225 8885 |
About RTW Venture Fund Limited:
RTW Venture Fund Limited (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 Venture Fund invests in companies developing next-generation therapies and technologies that can significantly improve patients' lives.
RTW Venture Fund Limited 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 RTW website at www.rtwfunds.com for more information.
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