LEI:
549300Q7EXQQH6KF7Z84
15 May
2024
RTW Biotech Opportunities
Ltd
Additional Investment in
Lycia Therapeutics
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Lycia Therapeutics completes $106.6 million Series C
financing
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Lycia is a leader in extracellular protein
degradation
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Proceeds to progress lead programmes into the clinic for
autoimmune and inflammatory diseases
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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 by portfolio company, Lycia Therapeutics
("Lycia"), of its
completion of a $106.6 million Series C financing round.
The Company, alongside other
investment vehicles managed by RTW Investments, LP (the
"Investment Manager"),
participated in the financing round with other life science
investment firms. The Company first invested in Lycia's Series B
financing round in January 2021. Lycia
intends to use the net proceeds to progress
its LYTAC degraders into clinical trials for patients with
autoimmune and inflammatory diseases.
Lycia is a biotechnology company
using its proprietary lysosomal targeting
chimeras (LYTACs) platform to discover and develop first-in-class
therapeutics that degrade extracellular and membrane-bound proteins
that drive a wide range of difficult-to-treat diseases, including
autoimmune and inflammatory diseases.
Josh Kennedy-Smith, PhD, Partner and
Research Analyst at the Investment Manager, said,
"Lycia is working at the
cutting edge of extracellular protein degradation, and we are
thrilled to continue our support of the company as they progress
the development of multiple LYTAC degraders towards proof of
concept in patients with autoimmune disease."
The full text of these announcements
can be accessed on Lycia's website:
https://lyciatx.com/.
For
Further Information
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RTW
Investments, LP
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+44
20 7959 6361
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Woody Stileman, Managing Director,
Business Development
Krisha McCune, Director, Investor
Relations
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biotechopportunities@rtwfunds.com
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Buchanan (PR & Communications Adviser)
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+44
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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Deutsche Numis (Joint Corporate Broker)
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+44
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 (Joint Corporate Broker)
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+44
20 7628 1000
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Edward Peel
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Alex Penney
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Cadarn Capital (Distribution & IR
Partner)
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+44
73 6888 3211
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David Harris
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Elysium Fund Management Limited
Joanna Duquemin Nicolle, Chief
Executive Officer
Sadie Morrison, Managing
Director
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+44
14 8181 0100
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Morgan Stanley Fund Services USA LLC
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+1
914 225 8885
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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.
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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.
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