LEI: 549300Q7EXQQH6KF7Z84

6 August 2024

RTW Biotech Opportunities Ltd

New Investment in Jade Biosciences, Inc.

RTW Biotech Opportunities Ltd (the "Company"), a London Stock Exchange-listed investment company focused on identifying transformative assets with high growth potential across the life sciences sector, is pleased to note the investment in new portfolio company, Jade Biosciences, Inc. ("Jade").

The Company, alongside other investment vehicles managed by RTW Investments, LP (the "Investment Manager"), participated in Jade's financing round that raised $80 million for its launch. The funding will be used to support Jade's plans to develop targeted therapies for indications with high unmet need across inflammation and immunology.

Jade Biosciences is developing a pipeline of potentially best-in-class therapies to redefine the standard of care for patients living with autoimmune conditions. Jade's pipeline of potentially best-in-class biologics was engineered by Paragon Therapeutics, which was founded by leading healthcare investor Fairmount. Jade is the fourth company founded from Paragon, which also includes Apogee Therapeutics, whose Series B the Company also invested in and continues to hold in its core public portfolio segment.

Josh Kennedy-Smith, Partner and Research Analyst at the Investment Manager said, "Jade Biosciences is an exciting new biotech developing best-in-class therapies for autoimmune diseases. We believe there is high potential and value in Jade's pipeline, which aims to address significant unmet medical needs in immunology and inflammation."

The full text of Jade's announcement can be accessed on its website at: https://jadebiosciences.com/.

For Further Information

About Biotech Opportunities Ltd:

RTW Biotech Opportunities Ltd (LSE: RTW & RTWG) is an investment fund focused on identifying transformative assets with high growth potential across the biopharmaceutical and medical technology sectors. Driven by a long-term approach to support innovative businesses, RTW Biotech Opportunities Ltd invests in companies developing next-generation therapies and technologies that can significantly improve patients' lives. RTW Biotech Opportunities Ltd is managed by RTW Investments, LP, a leading healthcare-focused entrepreneurial investment firm with deep scientific expertise and a strong track record of supporting companies developing life-changing therapies.

Visit the website at www.rtwfunds.com/rtw-biotech-opportunities-ltd for more information.

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The information in this announcement may include forward-looking statements, which are based on the current expectations and projections about future events, and in certain cases can be identified by the use of terms such as "may", "will", "should", "expect", "anticipate", "project", "estimate", "intend", "continue", "target", "believe" (or the negatives thereon) or other variations thereon or comparable terminology. These forward-looking statements, as well as those included in any related materials, are subject to risks, uncertainties and assumptions about the Company and/or its underlying investments, including, among other things, the development of the applicable entity's business, trends in its operating industry, expected use of financing proceeds and future capital expenditures and acquisitions. In light of these risks, uncertainties and assumptions, the events in the forward-looking statements may not occur.

The information contained in this announcement is given at the date of its publication (unless otherwise marked). No reliance may be placed for any purpose whatsoever on the information or opinions contained in this announcement or on its completeness, accuracy or fairness.

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