LEI: 549300Q7EXQQH6KF7Z84

17 AUGUST 2021

RTW Venture Fund Limited

(the "Company")

ISSUE OF EQUITY

On 16 August 2021, the Company issued 1,419,276 new ordinary shares of no par value each at a price of US$1.90 per share; these shares rank pari passu with the existing ordinary shares in issue. The issue price equates to a premium to the net asset value per share at the time of the transaction.

As a result of this issue, the total number of ordinary shares in issue now stands at 209,799,033 and the total number of voting rights in the Company is 209,799,033. There are no shares held in treasury.

The above figure of 209,799,033 may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The Company confirms that application for admission will be made to London Stock Exchange plc and it is expected that admission will occur at 8:00 a.m. on 20 August 2021.

William Simpson, who is a Director of the Company, subscribed for 25,000 New shares. Following this subscription he will hold 150,000 shares representing c 0.07% if the enlarged issued ordinary share capital of the Company.

William Scott who is a Director of the Company, subscribed for 50,000 New shares. Following this subscription he will hold 150,000 shares representing c 0.07% if the enlarged issued ordinary share capital of the Company.

For further information, please contact:

RTW Investments, LP                                                          +1 (646) 343 9280

Stephanie Sirota, Chief Business Officer

Alexandra Taracanova, PhD, Director of Investor Relations

Elysium Fund Management Limited                                  +44 (0) 14 8181 0100

Joanna Duquemin Nicolle, Chief Executive Officer

Sadie Morrison, Managing Director

Morgan Stanley Fund Services USA LLC                          +1 (914) 225-8885

J.P. Morgan Cazenove                                                         +44 (0) 20 7742 4000

William Simmonds

James Bouverat (Sales)

Barclays                                                                                 +44 (0) 20 7623 2323

Tom Swerling

Andrew Tusa

About RTW Venture Fund Limited:

RTW Venture Fund Limited (LSE: RTW) 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 Venture Fund invests in companies developing next-generation therapies and technologies that can significantly improve patients' lives.

RTW Venture Fund Limited is managed by RTW Investments, LP, a leading US healthcare investment firm with deep scientific expertise and a strong track record of supporting companies developing life-changing therapies.

Visit the RTW website at www.rtwfunds.com for more information.