Edison issues flash on RTW Venture Fund (RTW)

London, UK, 13 December 2022

Edison issues flash on RTW Venture Fund (RTW)

RTW Venture Fund (RTWVF) is managed by global healthcare specialist RTW Investments (RTW). It has announced that on 7 December 2022 portfolio company Prometheus Biosciences (NASDAQ: RXDX, cap $4.9bn) reported positive data on two of its clinical trials. At 31 October 2022, which is the date of RTWVF's last published NAV, Prometheus was its third-largest holding, making up c 7.5% of the fund. This company's share price rose by 165.7% on 7 December and by a further 22.4% on 8 December (despite the announcement of an upsized $500m secondary offering). Prometheus is an example of RTW's long-term, full life cycle investment approach, which supports companies ranging from newco formation to mid-stage venture to pre-initial public offering and public markets.

RTWVF, along with other funds managed by RTW, participated in a $130m financing round in Prometheus in November 2020 and then supported the company's IPO in March 2021.

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