IN BRIEF: RTW Biotech Opportunities get 0.2% uplift from Alesta deal
RTW Biotech Opportunities Ltd - investor in life sciences sector - Notes the announcement by BioMarin Pharmaceuticals Inc that it has agreed to buy RTW Biotech portfolio holding Alesta Therapeutics, which will give net asset value a boost. BioMarin will pay USD275 million upfront in cash for Alesta's lead asset, ALE1, which RTW says represents a 41% uplift on its own carrying value for Alesta. This will result in a USD1.6 million, or 0.2%, addition to RTW Biotech's net asset value as of July 31.
A further USD215 million will be due upon milestones for ALE1, which is a treatment for hypophosphatasia, a disease that impairs bone and tooth mineralisation. All of Alesta's non-ALE1 will be spun out into new entity, which RTW Biotech and other investors will continue to own. The BioMarin deal is expected to be completed in the third quarter of this year.
Rod Wong, chief investment officer for RTW Investments, notes Alesta is the sixth acquisition from within the RTW portfolio in 2026, as large-cap pharmaceutical companies replenish their product line-ups ahead of patent expiries. "We expect the current pace of dealmaking to persist, and RTW Bio remains well positioned across both its public and private portfolios to benefit," he says.
Current stock price: USD2.58, up 0.8% in London on Wednesday afternoon
12-month change: up 83%
By Tom Waite, Alliance News editor
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