Last checked at 
4 Sep 2023 11:00
LEI: 549300Q7EXQQH6KF7Z84
04 September 2023
RTW Biotech Opportunities Ltd
Additional Investment in Portfolio Company
· RTW Biotech Opportunities participates in a $100M Series D in Beta Bionics, Inc., a portfolio company
RTW Biotech Opportunities Ltd (the "Company"), a London Stock Exchange-listed investment fund focused on identifying transformative assets with high growth potential across the life sciences sector, is pleased to note the announcement by its portfolio company Beta Bionics, Inc. ("Beta Bionics") that it has secured $100 million in funding to advance diabetes technology and redefine diabetes management with its iLet Bionic Pancreas.
Beta Bionics is a medical technology company focused on the design, development, and commercialisation of the iLet Bionic Pancreas, an autonomous insulin delivery system that streamlines diabetes management and reduces the burden on patients and physicians. The Series D funding is expected to help further develop and test the bionic pancreas as well as expand access.
Beta Bionics has been a part of the Company's portfolio since its launch on 30 October 2019. Previously, the Company together with other funds managed by RTW Investments, LP (the "Investment Manager") and other investment firms co-led a $57 million Series C financing round in Beta Bionics in February 2022.
"We're proud to continue to support the Beta Bionics team in their mission to improve the health outcomes and quality of life for people living with diabetes," said Roderick Wong, MD, Managing Partner and Chief Investment Officer of RTW Investments, LP, the Investment Manager.
The full text of the announcement is contained below.
For Further Information:
RTW Investments, LP | +44 20 7959 6361 |
Woody Stileman, Managing Director Krisha McCune, Director, Client Service |
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Buchanan | +44 20 7466 5107 |
Charles Ryland |
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Henry Wilson |
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George Beale |
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Numis | +44 20 7260 1000 |
Freddie Barnfield |
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Nathan Brown |
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Euan Brown |
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BofA Securities | +44 20 7628 1000 |
Edward Peel |
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Kieran Millar
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Cadarn Capital |
+44 73 6888 3211 |
David Harris |
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Elysium Fund Management Limited Joanna Duquemin Nicolle, Chief Executive Officer Sadie Morrison, Managing Director
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+44 (0) 14 8181 0100 |
Morgan Stanley Fund Services USA LLC | +1 914 225 8885 |
About RTW 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.
Beta Bionics Secures $100 Million in Series D Funding to Advance Diabetes Technology and Expand Market Presence
CONCORD, Mass., August 30, 2023: Beta Bionics, Inc., a pioneering leader in the development of advanced diabetes management solutions, is thrilled to announce the successful closure of its Series D funding round securing $100 million in new equity capital.
The Series D funding was co-led by new investors Sands Capital and Omega Funds with an additional new investor, Marshall Wace, also participating. Previous investors Soleus Capital, Eventide Asset Management LLC, Farallon Capital, Perceptive Advisors, certain funds managed by RTW Investments, LP, ArrowMark Partners, and Pura Vida Investments also participated.
Sean Saint, CEO of Beta Bionics, "This significant investment represents a powerful vote of confidence in Beta Bionics' mission to redefine diabetes management with user-centric technologies. We are deeply grateful to our investors for recognizing the immense potential of our products. We are eager to push the boundaries of what's possible by expanding access to the iLet Bionic Pancreas nationwide and further develop and test the bi-hormonal bionic pancreas."
"We're excited to support the Beta Bionics team as they work to launch and develop breakthrough technologies that help reduce the burden of diabetes," said Parker Cassidy, Partner, Sands Capital Ventures.
"Our ability to secure this capital is a testament to iLet's competitive differentiation and our financial discipline," said Stephen Feider, CFO of Beta Bionics. "Thank you to the investors for believing in our team and the mission."
Beta Bionics' flagship product, the iLet Bionic Pancreas, is an autonomous insulin delivery system that streamlines diabetes management and reduces the burden on patients and physicians. The only input required to get started is the user's weight - the iLet does the rest. Healthcare providers no longer need to determine complex settings including correction factors, insulin-to-carb ratios or pre-set basal rates. When iLet users "GO BIONIC" with their diabetes management, there's no carb counting* or calculating insulin corrections throughout the day - the iLet determines 100% of the insulin doses.
*User must be carb aware
About Beta Bionics
Beta Bionics is a medical technology company focused on the design, development, and commercialization of its iLet Bionic Pancreas in both the single hormone and bi-hormonal configurations. The iLet Bionic Pancreas platform is designed to use adaptive, self-learning, control algorithms, together with continuous glucose monitoring and pump technology, to autonomously compute and administer doses of insulin and/or glucagon and mimic the body's natural ability to maintain tight glycemic control, relieving some of the burden of living with diabetes. To learn more, visit www.betabionics.com.
Beta Bionics is a for-profit, public benefit corporation and Certified B Corporation. Since its founding in 2015, its mission has been to help improve health outcomes and the quality of life of children and adults living with diabetes and other conditions of glycemic dysregulation.