RTW Venture Fund Limited New Investment in Abdera Therapeutics (4384X)
26 April 2023 - 4:00PM
UK Regulatory
TIDMRTW
RNS Number : 4384X
RTW Venture Fund Limited
26 April 2023
LEI: 549300Q7EXQQH6KF7Z84
26 April 2023
RTW Venture Fund Limited
New Investment in Abdera Therapeutics
RTW participates in Series B Round in Abdera Therapeutics
-- RTW Venture Fund Limited announces a new portfolio company, Abdera Therapeutics
-- The proceeds from the financing are int ended to support
Abdera's radiotherapy pipeline of potentially best-in-class
therapies for clinically validated and novel targets in
oncology
RTW Venture Fund Limited (the "Company"), a London Stock
Exchange-listed investment fund focused on identifying
transformative assets with high growth potential across the life
sciences sector, is pleased to note the announcement by Abdera
Therapeutics Inc. ("Abdera") of its completion of a $142M Series A
and Series B financing rounds.
The Company, alongside other investment vehicles of RTW
Investments, LP (the "Investment Manager"), confirms that it
participated in the Series B financing round together with other
investors.
Abdera is a privately held pre-clinical stage biopharmaceutical
company leveraging antibody engineering to design and develop new
precision radiopharmaceuticals for cancer. The company is building
a pipeline of potentially best-in-class therapies for both
clinically validated and novel targets that deliver potent
radioisotopes capable of emitting alpha or beta particles to
selectively destroy cancer cells. Abdera's lead program targets
delta-like ligand 3 (DLL3), a well-validated oncotarget, for the
treatment of small cell lung cancer and other solid tumors. Abdera
expects to submit an investigational new drug (IND) application to
the U.S. Food and Drug Administration (FDA) in 2024.
Roderick Wong, M.D., Managing Partner and Chief Investment
Officer at the Investment Manager, said:
"We are pleased to support Abdera through participation in this
Series B financing. We look forward to its continued progress in
developing precision radiopharmaceuticals and providing patients
and their healthcare providers with new and innovative therapeutic
options for treating cancer."
The full text of the announcement can be found on the Abdera's
website: www.abderatx.com
For Further Information
RTW Investments, LP +44 (0)20 7959 6361
Woody Stileman, Managing Director
Krisha McCune, Director, Client Service
Buchanan +44 (0)20 7466 5107
Charles Ryland
Henry Wilson
George Beale
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 life sciences sector. 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.
***********
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.
***********
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCZZGZDVKKGFZM
(END) Dow Jones Newswires
April 26, 2023 02:00 ET (06:00 GMT)
Rtw Biotech Opportunities (LSE:RTW)
Historical Stock Chart
From Apr 2024 to May 2024
Rtw Biotech Opportunities (LSE:RTW)
Historical Stock Chart
From May 2023 to May 2024