Rtw Biotech Regulatory News (RTW)

LEI: 549300Q7EXQQH6KF7Z84

02 August 2021

RTW Venture Fund Limited

Portfolio Company Update: Tenaya Therapeutics IPO

Tenaya Therapeutics Prices $180 Million Upsized IPO

RTW Venture Fund Limited (the "Company"), a London Stock Exchange-listed investment company focused on identifying transformative assets with high growth potential across the biopharmaceutical and medical technology sectors, is pleased to note the 29 July 2021 announcement by one of its portfolio companies, Tenaya Therapeutics, Inc. ("Tenaya") regarding its pricing of a $180 million initial public offering ("IPO") and admission to trade on Nasdaq Global Market under ticker "TNYA".

Tenaya is a preclinical stage biotechnology company with a mission to discover, develop, and deliver curative therapies that address the underlying causes of heart disease. Tenaya is developing three platforms to address heart disease: gene therapy, regeneration, and precision medicine.

Prior to IPO, the Company, together with other funds managed by RTW Investments, LP (the "Investment Manager"), led Tenaya's $106 million Series C financing round in December 2020.

Tenaya's IPO was upsized and raised $180 million by offering 12 million shares at $15.00 per share. On the first day of trading, Tenaya's share price increased by 2.3% to close at $15.35 per share.

Roderick Wong, MD, Managing Partner and Chief Investment Officer of the Investment Manager, said:

"We are delighted with Tenaya's successful IPO and look forward to supporting the company in its mission to bring potentially curative therapies for patients with heart disease."

Tenaya's IPO pricing announcement can be accessed on its website at: www.tenayatherapeutics.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 biopharmaceutical and medical technology sectors. 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 healthcare-focused entrepreneurial 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.

Tenaya Therapeutics Announces Pricing of Upsized Initial Public Offering

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Jul. 29, 2021-- Tenaya Therapeutics, Inc. (NASDAQ: TNYA), a biotechnology company with a mission to discover, develop and deliver curative therapies that address the underlying causes of heart disease, announced today the pricing of its underwritten, upsized initial public offering of 12,000,000 shares of its common stock at an initial public offering price of $15.00 per share. The shares are expected to begin trading on the Nasdaq Global Select Market on July 30, 2021, under the ticker symbol "TNYA." The offering is expected to close on August 3, 2021, subject to the satisfaction of customary closing conditions.

All of the shares in the offering are being offered by Tenaya. The gross proceeds to Tenaya from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be $180.0 million. In addition, Tenaya has granted the underwriters a 30-day option to purchase up to 1,800,000 additional shares of its common stock at the initial public offering price, less underwriting discounts and commissions.

Morgan Stanley, Cowen and Piper Sandler are acting as joint book-running managers for the offering. Chardan is acting as lead manager for the offering.

Registration statements relating to the offering have been filed with the Securities and Exchange Commission and became effective today. The offering is made only by means of a prospectus, copies of which may be obtained, when available, from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com; or Piper Sandler & Co., 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attn: Prospectus Department, by telephone at (800) 747-3924, or by email at prospectus@psc.com. Copies of the final prospectus, when available, related to the offering will be available at www.sec.gov.

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that state or jurisdiction.

About Tenaya Therapeutics

Tenaya Therapeutics is a biotechnology company committed to a bold mission: to discover, develop and deliver curative therapies that address the underlying drivers of heart disease. Founded by leading cardiovascular scientists from Gladstone Institutes and the University of Texas Southwestern Medical Center, Tenaya is developing therapies for rare genetic disorders as well as for more prevalent heart conditions through three distinct but interrelated product platforms: Gene Therapy, Cellular Regeneration and Precision Medicine.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210729006274/en/

For more information, please contact:

Media Contact:Kit RodopheleTen Bridge Communicationskrodophele@tenbridgecommunications.com(617) 999-9620

Source: Tenaya Therapeutics, Inc.