Last checked at 
26 May 2021 13:05
LEI: 549300Q7EXQQH6KF7Z84
26 May 2021
RTW Venture Fund Limited
Additional Investment in Portfolio Company
RTW Participates in $200 Million Financing Round in NiKang Therapeutics
RTW Venture Fund Limited (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 its portfolio company NiKang Therapeutics, Inc. ("NiKang") on 26 May 2021 of its completion of a $200 million Series C financing round.
The Company, alongside other investment vehicles of RTW Investments, LP (the "Investment Manager"), confirms that it participated in the Series C financing round together with other investment firms.
NiKang is a US-based privately held biotechnology company focused on discovering and developing innovative small molecule oncology medicines. NiKang intends to use the proceeds from the financing round to advance the company's lead drug candidates into the clinic, expand the pipeline and fund internal drug discovery programs.
The Company and the Investment Manager led NiKang's $50 Million Series B round in September 2020, upon which Roderick Wong, MD, Managing Partner and Chief Investment Officer of the Investment Manager, joined NiKang's board of directors.
Roderick Wong, MD, said: "We are delighted to continue our support of NiKang in the latest financing round and the company's focus on using structure-based design to discover novel small molecules against promising molecular targets in oncology."
NiKang's announcement can be accessed on its website at: www.nikangtx.com the full text of which is contained below.
For Further Information
RTW Investments, LP +1 (646) 343 9280Stephanie Sirota, Chief Business OfficerAlexandra Taracanova, PhD, Director of Investor Relations
Julia Enright, Senior Business Development Associate
Buchanan +44 (0)20 7466 5107Charles Ryland
Henry Wilson
George Beale
About RTW Venture Fund Limited:
RTW Venture Fund Limited (LSE: RTW) is an investment company focused on identifying transformative assets with high growth potential across the life sciences sector. Driven by a long-term approach to support innovative businesses, RTW Venture Fund invests in companies developing next-generation therapies and technologies that can significantly improve patients' lives.
RTW Venture Fund Limited is managed by RTW Investments, LP, a leading entrepreneurial healthcare-focused investment firm with deep scientific expertise and a strong track record of supporting companies developing life-changing therapies.
Visit the RTW website at www.rtwfunds.com for more information.
NiKang Therapeutics Announces Completion of $200 Million Series C Financing to Advance Highly Differentiated Small Molecules Addressing Difficult-to-Drug Targets
Bing Yao, Ph.D., former chief executive officer and chairman of Viela Bio, and Ting Jia, Ph.D., founder and chief investment officer of Octagon Capital to join NiKang's Board of Directors
Wilmington, DE., May 26, 2021 - NiKang Therapeutics Inc ("NiKang"), a clinical stage biotech company focused on developing innovative small molecule oncology medicines to help patients with unmet medical needs, today announced the completion of an oversubscribed $200 million series C financing led by Cormorant Asset Management, HBM Healthcare Investments and Octagon Capital with participations from a premier syndicates of funds, including new investors EcoR1 Capital, Perceptive Advisors, Wellington Management, Ally Bridge Group, Pavilion Capital, funds and accounts managed by BlackRock, RA Capital, Surveyor Capital (a Citadel company), Samsara BioCapital, PFM Health Sciences, Invus, Janus Henderson Investors and Logos capital. All existing investors including CBC Group, RTW Investments, LP, Lilly Asia Ventures, Matrix Partners China, and Casdin Capital participated in the financing. In connection with the financing, Bing Yao, Ph.D., former CEO and chairman of Viela Bio, and Ting Jia, Ph.D., founder and chief investment officer of Octagon Capital will join NiKang's Board of Directors.
"We are thrilled to have such an outstanding group of investors as our shareholders," said Zhenhai Gao, Ph.D., co-founder, president, and chief executive officer of NiKang. "Their support of our vision allows us to build the world's leading precision oncology company. We are now well positioned to rapidly advance our pipeline into clinic including our differentiated HIF-2 alpha inhibitor, and to bring our company to the next level of growth."
"This financing is a testament to the quality of our science and team," Kelsey Chen, Ph.D., MBA, chief finance officer, added. "Since joining NiKang, I have witnessed the passion and dedication by a group of talented scientists who are devoting their lives to advance treatments for patients. We are grateful to be recognized by such a high caliber group of investors."
"NiKang has made remarkable progress over the last six months," said Ting Jia, Ph.D., chief investment officer of Octagon. "We are impressed by the team's accomplishment. We believe NiKang's unique approach of attacking difficult-to-drug targets offers promising opportunities in developing breakthrough treatments for cancer patients. We are excited to co-lead the series C financing and partner with the NiKang team to accelerate its growth."
"We are proud of what NiKang has achieved since its inception," said Sean Cao, executive chairman of NiKang and managing director of CBC Group, which incubated the Company. "The strength of this group of investors validates NiKang's achievements and demonstrates their confidence in NiKang's potential to grow into a leading innovative drug company."
Proceeds will be used to advance the company's lead drug candidates into the clinic, expand the pipeline and fund internal drug discovery programs.
About NiKang Therapeutics
NiKang Therapeutics is a clinical stage biotech company focused on discovering and developing innovative small molecules oncology medicines to help patients with unmet medical needs. Our target selection is driven by deep insights into disease biology and molecular pathways. Our discovery approach is informed by target structure biology and capitalizes on structure-based drug design. The successful implementation of our strategy enables us to rapidly and efficiently discover and advance proprietary drug candidates with the most desirable pharmacological features into clinical studies. We strive to bring transformative medicines to patients in need.
For more information, please visit http://nikangtx.com
Contact: Kelsey Chen
Chief Financial Officer IR@nikangtx.com