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RTW Venture Fund Ltd on Monday welcomed news of the pricing of an upsized initial public offering by one of its portfolio companies, Mineralys Therapeutics Inc. RTW, an investment company focused on the biopharmaceutical and medical technology sectors has a stake in Mineralys worth around 0.3% of total net asset value and participated in a $118 million financing round in June 2022. Mineralys’ IPO raised $192.0 million by offering 12 million shares at $16.00 each which was at the top end of market expectations. On the first day of trading, Mineralys’ share price rose 15.3%, to close at $18.44 per share. The clinical-stage biopharmaceutical firm is focused on developing medicines to target diseases driven by abnormally elevated aldosterone with its lead product, lorundrostat, expected to begin Phase 3 clinical trial in the first half of the year. Shares in RTW closed up 0.4% at $1.34 on Monday in London. By Jeremy Cutler, Alliance News reporter. . Copyright 2023 Alliance News Ltd. All Rights Reserved. Shares in RTW Venture Fund closed up 0.4% at $1.34 in London on Monday.
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