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  5. IN BRIEF: RTW Biotech completes Arix investment in takeover run-up

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Rtw Biotech Information

Share Price Information for Rtw Biotech (RTW)

London Stock Exchange
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Share Price: 1.42
Bid: 1.42
Ask: 1.43
Change: 0.015 (1.06%)
Spread: 0.01 (0.704%)
Open: 1.42
High: 1.42
Low: 1.42
Prev. Close: 1.41
RTW Live PriceLast checked at -
RTW Venture is an Investment Trust

To achieve positive absolute performance and superior long-term capital appreciation, with a focus on forming, building, and supporting world-class life sciences, biopharmaceutical and medical technology companies.

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IN BRIEF: RTW Biotech completes Arix investment in takeover run-up

Mon, 22nd Jan 2024 16:22

RTW Biotech Opportunities Ltd - New York-based investment firm focused on the life sciences sector - Says it completed on Friday its previously announced acquisition of a 25.5% stake in Arix Bioscience PLC for USD57.1 million, equivalent to GBP1.37 per Arix share. Purchase is to support its planned all-share acquisition of Arix's assets. Arix says RTW on January 15 received confirmation from the UK Financial Conduct Authority that it has approved the proposed change of control. Companies say that as planned, Non-Executive Directors Maureen O'Connell and Isaac Kohlberg have resigned from Arix's board, effective Friday.

RTW Investments Chief Investment Officer Roderick Wong says: "We remain excited to partner with Arix and combine our complementary portfolios to capitalise on the tremendous opportunities across the life sciences markets. Today's announcement is an important milestone towards the overall completion of the transaction and RTW Bio has undertaken to vote its entire Arix shareholding to support the Arix scheme."

RTW current stock price: USD1.35

12-month change: up 5.5%

Arix current stock price: 135.16 pence, down 0.3%

12-month change: up 28%

By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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RTW Biotech portfolio company secures USD100 million funding

(Alliance News) - RTW Biotech Opportunities Ltd on Monday said its portfolio company Beta Bionics Inc has secured USD100 million in funding.

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17 Jul 2023 11:14

RTW Biotech celebrates Apogee's IPO as net asset value dips

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5 Jul 2023 15:30

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14 Jun 2023 15:57

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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9 May 2023 17:42

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IN BRIEF: RTW Venture eyes Prometheus takeover to up net asset value

RTW Venture Fund Ltd - investment company focused on the life sciences sector - Notes that its largest holding, California-based biotech company Prometheus Biosciences Inc, is acquired by pharmaceutical firm Merck & Co Inc. Merck buys Prometheus for nearly USD10.8 billion, USD200 per share in cash. Prometheus's share price was at USD114.01 when the New York Stock Exchange closed on Friday, so the price represents a 75% premium. RTW says Prometheus is the largest holding in RTW Venture Fund's portfolio, accounting for around 15% of its net asset value at the end of March. "As such, the company expects that this will translate into a material accretion to the NAV," it says.

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