Rtw Biotech Regulatory News (RTW)

LEI: 549300Q7EXQQH6KF7Z84

23 June 2026

RTW Biotech Opportunities Ltd

AbbVie to acquire Apogee Therapeutics

· Transaction values Apogee at approximately $10.9 billion

· Acquisition price represents a 49.5% premium to prior closing share price

· As at 31 May 2026, Apogee represented 1.1% of the Company's NAV

RTW Biotech Opportunities Ltd ("RTW Bio" or "the Company"), the London Stock Exchange-listed investment company focused on identifying transformative assets with high growth potential across the life sciences sector, is pleased to the note the announcement by AbbVie, Inc. ("Abbvie", NYSE: ABBV) that it has entered into a definitive agreement to acquire public portfolio company Apogee Therapeutics, Inc. ("Apogee", Nasdaq: APGE).

Apogee is a clinical-stage biotechnology company advancing novel biologics with potential for differentiated efficacy and dosing in the largest Immunology and Inflammation markets, including asthma, chronic obstructive pulmonary disease and other indications.

Apogee shareholders will receive $135.11 per share in cash. The transaction values Apogee at an equity value of $10.9 billion and is expected to close in the third quarter of 2026. The acquisition price represents a 49.5% premium to Apogee's closing share price on 18 June, prior to the announcement. As at 31 May 2026, Apogee represented 1.1% of the Company's NAV. RTW Bio first invested in Apogee's Series B financing round as a private investment in December 2022.

Rod Wong, CIO of RTW Investments, said, "This is the tenth acquisition from RTW Bio's portfolio in the last twelve months and a powerful validation of RTW's private investment strategy. We first invested in Apogee as a private company in December 2022 and the acquisition by AbbVie reflects the extraordinary value that can be created through backing differentiated science and the right team. This transaction follows Kailera's landmark IPO earlier this year - at the time the largest biotech IPO in history - and together these outcomes speak to RTW's ability to identify and build transformative companies in the private markets. Two landmark liquidity events in close succession are the product of a disciplined, science-first approach to private company building that has been core to our strategy since RTW's founding."

AbbVie's announcement can be found here.

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About RTW Biotech Opportunities Ltd:

RTW Biotech Opportunities Ltd (LSE: RTW) 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.rtwbio.com 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.