LEI:
549300Q7EXQQH6KF7Z84
27 September
2024
RTW Biotech Opportunities
Ltd
Portfolio Company Update: BioAge Labs
completes $198 million IPO
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 BioAge Labs, Inc. ("BioAge") regarding its
completion of a $198 million initial public offering ("IPO").
BioAge will trade on Nasdaq Global Select Market under the ticker
"BIOA".
BioAge's IPO raised $198 million by offering
11,000,000 shares at $18.00 per share. As of market
close on the first day of trading, the shares rose
1.7% to $18.31. As at 31 August 2024, BioAge
represented 0.3% of the Company's NAV.
BioAge is a clinical-stage biopharmaceutical
company developing therapeutic product candidates for metabolic
diseases, such as obesity, by targeting the biology of aging. Its
lead program, azelaprag, has potential as an oral regimen to
improve weight loss and restore both body composition and muscle
function in patients on obesity therapy with incretin drugs. The
Company initially invested in BioAge's Series D round in February
of this year.
Yuantao Li, PhD, Research Associate
at the Investment Manager said, "BioAge's
innovative approach to targeting metabolic diseases such as
obesity, particularly through their lead product candidate,
azelaprag, holds tremendous promise. BioAge's commitment to
developing cutting-edge treatments underscores their dedication to
leveraging novel biology to tackle key pathways in metabolic
diseases. This IPO represents a pivotal moment for BioAge Labs, and
I look forward to witnessing their continued success in developing
transformative therapies."
The full text of the announcement can be
accessed on BioAge's website at:
https://bioagelabs.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
|
biotechopportunities@rtwfunds.com
|
|
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)
Freddie Barnfield
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+44
20 7260 1000
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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
|
+44 14 8170 3100
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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.
***********
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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