RTW Biotech announces royalty funding agreement with Savara
RTW Biotech Opportunities Ltd on Friday confirmed it has entered into a royalty funding agreement with clinical stage biopharmaceutical company Savara Inc for a rare lung disease treatment.
RTW Biotech, a London-listed investor focused on high-growth life science assets, said the funds for the $75 million agreement will be managed by RTW Investments LP.
This follows Savara’s announcement of the funding agreement on Wednesday this week.
RTW Investments manages RTW Biotech, which is a healthcare-focused entrepreneurial investment firm.
RTW Biotech said the funding is subject to the US Food and Drug Administration’s approval of Savara’s lead programme, Molbreevi.
Molbreevi is a treatment in phase 3 development for autoimmune pulmonary alveolar proteinosis, a rare disease characterised by the abnormal build-up of surfactant in the alveoli of the lungs.
Assuming FDA approval, the funding will support the US launch and further commercialisation of Molbreevi, which would be the first approved drug for autoimmune PAP.
RTW Biotech will participate in this investment through its commitment to the RTW-managed 4010 Royalty fund.
Rod Wong, chief investment officer of RTW Investments, said: ‘The pivotal clinical trial demonstrated the potential of Molbreevi to treat autoimmune PAP and this investment reflects our confidence in Savara and the strong commercial potential of the therapy.
‘We are proud to partner with the Savara management team and look forward to supporting their efforts to bring this meaningful treatment to patients.’
Shares in RTW Biotech fell 0.1% to $1.77 a share on Friday morning in London.
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