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RTW Venture Fund Ltd on Tuesday said its portfolio company Acelyrin Inc raised $540 million from an upsized initial public offering, which began on Friday last week. RTW Venture Fund is an investment company focused on the life sciences sector, while Aceleryn is a late-stage clinical biopharma company focused on accelerating the development and delivery of transformative medicines in immunology. Acelyrin’s IPO raised $540 million by offering 30 million shares at a price of $18.00 per share. Shares in Acelyrin were up 0.8% to $24.30 each in New York on Tuesday afternoon, while in London, RTW Venture Fund shares closed up 2.7% to 101.50 pence each. ‘We are excited about Acelyrin’s successful debut on the public markets, the third from our portfolio this year in an otherwise challenging capital market, and we look forward to supporting the company in its efforts to develop new treatments for inflammatory conditions,’ said RTW Venture Fund Managing Partner and chief investment officer at its investment manager Roderick Wong. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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