New Investment in Abdera Therapeutics
LEI: 549300Q7EXQQH6KF7Z84
26 April 2023
RTW Venture Fund Limited
New Investment in Abdera Therapeutics
RTW participates in Series B Round in Abdera Therapeutics
· RTW Venture Fund Limited announces a new portfolio company, Abdera Therapeutics
· The proceeds from the financing are intended to support Abdera's radiotherapy pipeline of potentially best-in-class therapies for clinically validated and novel targets in oncology
RTW Venture Fund Limited (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 Abdera Therapeutics Inc. ("Abdera") of its completion of a $142M Series A and Series B financing rounds.
The Company, alongside other investment vehicles of RTW Investments, LP (the "Investment Manager"), confirms that it participated in the Series B financing round together with other investors.
Abdera is a privately held pre-clinical stage biopharmaceutical company leveraging antibody engineering to design and develop new precision radiopharmaceuticals for cancer. The company is building a pipeline of potentially best-in-class therapies for both clinically validated and novel targets that deliver potent radioisotopes capable of emitting alpha or beta particles to selectively destroy cancer cells. Abdera's lead program targets delta-like ligand 3 (DLL3), a well-validated oncotarget, for the treatment of small cell lung cancer and other solid tumors. Abdera expects to submit an investigational new drug (IND) application to the U.S. Food and Drug Administration (FDA) in 2024.
Roderick Wong, M.D., Managing Partner and Chief Investment Officer at the Investment Manager, said:
"We are pleased to support Abdera through participation in this Series B financing. We look forward to its continued progress in developing precision radiopharmaceuticals and providing patients and their healthcare providers with new and innovative therapeutic options for treating cancer."
The full text of the announcement can be found on the Abdera's website: www.abderatx.com
For Further Information
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RTW Investments, LP |
+44 (0)20 7959 6361 |
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Woody Stileman, Managing Director Krisha McCune, Director, Client Service |
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Buchanan |
+44 (0)20 7466 5107 |
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Charles Ryland |
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Henry Wilson |
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George Beale
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About RTW Venture Fund Limited:
RTW Venture Fund Limited (LSE: RTW & RTWG) is an investment fund 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 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.
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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.
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