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RTW Biotech Opportunities Ltd on Monday said its portfolio company Beta Bionics Inc has secured $100 million in funding. RTW is a New York-based investment firm, which is focused on the life sciences sector. ‘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,’ RTW explained. Beta Bionics has been a part of the RTW’s portfolio since its launch in October 2019. Beta Bionics will use the funding to advance diabetes technology and redefine diabetes management with its iLet Bionic Pancreas. iLet Bionic Pancreas is an autonomous insulin delivery system that streamlines diabetes management and reduces the burden on patients and physicians. ‘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, managing partner & chief investment officer of RTW Investments LP. RTW stock was down 1.0% to $1.25 each in London on Monday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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