LEI:
549300Q7EXQQH6KF7Z84
9 February
2024
RTW Biotech Opportunities
Ltd
Portfolio Company Update: Kyverna
Therapeutics prices upsized IPO at $319 million
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
Kyverna Therapeutics ("Kyverna") regarding its pricing of a $319
million initial public offering ("IPO"), upsized $137 million above
its initial estimate last week. Kyverna will trade on Nasdaq Global
Select Market under the ticker "KYTX".
Kyverna's IPO raised $319 million by offering
14,500,000 shares at $22.00 per share. Additionally,
Kyverna has granted the underwriters a 30-day option to
purchase up to an additional 2,175,000 shares of common stock at
the IPO price, less discounts and commissions. On the
first day of trading, Kyverna's share price traded up by 36.4% to
close at $30.00 per share. As at 31 December 2023,
Kyverna represented 0.45% of the Company's NAV.
Kyverna is a clinical-stage cell therapy
biopharma company engineering a new class of therapies for
autoimmune and inflammatory diseases. Kyverna's therapeutic
platform combines advanced T-cell engineering and synthetic biology
technologies to suppress or eliminate the autoreactive immune cells
at the origin of autoimmune and inflammatory diseases. The Company
initially invested in Kyverna's Series B round in early
2022.
Kyverna's lead asset, KYV-101, is in Phase 1
testing for lupus nephritis and systemic sclerosis, and in Phase 2
testing for myasthenia gravis and multiple sclerosis.
Chris Liu, PhD, Senior Research Analyst at the
Investment Manager who has served as a non-voting board observer of
Kyverna since 2022 said, "We are pleased to continue to
support Kyverna Therapeutics in its mission to deliver innovative
CAR-T cell therapy to patients with autoimmune and inflammatory
diseases. This marks the fifth biotech IPO of the year, and we
continue to see good companies with innovative assets receiving
great support from the public market."
The full text of Kyverna's announcement can be
accessed on its website at:
https://kyvernatx.com/.
For Further
Information
RTW
Investments, LP
|
+44
(0)20 7959 6361
|
Woody Stileman, Managing
Director
Krisha McCune, Director,
IR
|
|
biotechopportunities@rtwfunds.com
|
|
Buchanan Communications
|
+44
(0)20 7466 5107
|
Charles Ryland
|
|
Henry Wilson
|
|
Numis
|
+44
20 7260 1000
|
Freddie Barnfield
|
|
Nathan Brown
|
|
Euan Brown
|
|
|
|
BofA Securities
|
+44
20 7628 1000
|
Edward Peel
|
|
Kieran Millar
|
|
Cadarn Capital
David Harris
|
+44
73 6888 3211
|
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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