LEI:
549300Q7EXQQH6KF7Z84
11 June
2024
RTW Biotech Opportunities
Ltd
Acquisition by J&J of
Portfolio Company Numab Therapeutics
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Numab Therapeutics AG announced Johnson & Johnson will
acquire its wholly-owned subsidiary
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Johnson & Johnson will pay $1.25 billion in cash to
acquire Yellow Jersey Therapeutics
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Transaction results in a 2.86x uplift in position's holding
value from 30th April NAV
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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 on 28th May by one of its portfolio
companies, Numab Therapeutics AG ("Numab"), of the proposed acquisition of
its wholly-owned subsidiary, Yellow Jersey Therapeutics, by Johnson
& Johnson ("J&J")
for $1.25 billion in cash. Yellow Jersey Therapeutics holds the
rights to Numab's NM26, a first-in-class, bi-specific antibody
targeting two clinically proven pathways in atopic dermatitis, the
most common inflammatory skin disease.
The Company first invested in
Numab's Series C in May 2021. The value of the position at the
31st May NAV, to be published later this week, is
estimated to be $4.49m, compared to $1.57m at 30th
April, the last published NAV prior to the transaction. The change
in valuation is on a risk-adjusted basis to account for
uncertainties with respect to closing and post-closing
considerations. The transaction is expected to close in the second
half of 2024.
Chris Liu, PhD, Senior Research
Analyst at the Investment Manager, said, "This transaction underscores the
growing significance of innovative bi-specific antibodies in
addressing complex medical needs. It also demonstrates large
pharma's strategic interest in immunology assets driven in part by
validated mechanisms of action and large market opportunities at a
time when patent cliffs will soon start to bite."
The full text of these announcements
can be accessed on Numab's and J&J's
websites: https://numab.com/ and
https://www.jnj.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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