16th Jan 2026 09:01
(Alliance News) - RTW Biotech Opportunities Ltd on Thursday noted Boston Scientific Corp's USD14.5 billion acquisition of Penumbra Inc, a portfolio company that represented 1.0% of its net asset value at the end of 2025.
The Guernsey-based investor in the life sciences sector said the agreed cash-and-stock deal values Penumbra at USD374 per share, a 19% premium to its closing price on Wednesday.
Penumbra develops devices for treating cardiovascular conditions, including ischaemic stroke and venous thromboembolism.
Boston Scientific, a Massachusetts-based biotechnology and biomedical engineering firm, will fund the acquisition with roughly 73% cash and 27% stock, with completion expected in 2026.
RTW Chief Investment Officer Rod Wong said the transaction highlights renewed momentum in biotech and medtech dealmaking, following the year's first IPO from another portfolio firm, Aktis.
"This deal shows the high level of activity in our portfolio, underscores the value being placed on differentiated technologies addressing critical unmet needs, and reflects broader momentum returning to biotech and medtech deal-making. Thoughtful consolidation, backed by strong science and robust clinical utility, will continue to create value for shareholders and drive long-term advances in patient care," Wong said.
Shares in RTW Biotech Opportunities were flat at USD2.23 on Friday morning in London.
By Michael Hennessey, Alliance News reporter
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