|
RTW Biotech Opportunities Ltd on Monday noted that US portfolio company Kailera Therapeutics Inc raised a record $625 million in its upsized initial public offering in New York. The Guernsey-based investor in the life sciences sector said the Massachusetts-based company, which is developing a portfolio of obesity treatments, began trading on the Nasdaq Global Select Market on Friday last week. RTW Biotech Opportunities said Kailera offered 39 million shares at $16 per share in the IPO, generating $625 million and marking a 47% step-up in valuation from the investment trusts prior holding value at the end of March, and a 49% step-up from cost. ‘This transaction sets a record as the biggest-ever biotech IPO by total proceeds,’ said RTW. The life sciences investor noted that Kailera’s shares gained 63% throughout their first day of trading, ending at $26 per share. RTW Biotech Opportunities noted that prior to the IPO and Friday’s big rise, Kailera represented 3.5% of its net asset value as at March 31. Shares in RTW Biotech Opportunities were up 2.5% to $2.29 on Monday morning in London. Kailera shares were down 0.6% at $25.84 in pre-market dealings in New York. ‘We’re excited for the Kailera team and congratulate them on their successful IPO. Kailera is a great example of our strategy to build great companies around best-in-class assets, also underscoring the strength of our global sourcing platform, including in China, where we have established expertise and networks to access high-quality innovation,’ said Roderick Wong, chief investment officer at RTW Investments. ‘The successful public debut of this investment demonstrates the latent value within RTW Bio’s private portfolio. With a significant proportion of our NAV invested in private companies, we see substantial further opportunity for value realisation in the periods ahead.’ Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
