LEI: 549300Q7EXQQH6KF7Z84

01 March 2023

RTW Venture Fund Limited

New Investment in Cargo Therapeutics

RTW Co-leads $200 Million Series A Round in Cargo Therapeutics

·      RTW Venture Fund Limited announces a new portfolio company, Cargo Therapeutics, LLC, co-leading on a $200 million Series A financing round

·      The proceeds from the Series A financing round are intended to support Cargo's Phase 2 clinical development program and Cargo's pipeline of next generation CAR T-cell programs and technologies

RTW Venture Fund Limited (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 announcement by Cargo Therapeutics, LLC ("Cargo") on 1 March 2023 of the completion of its $200M Series A financing round.

The Company, alongside other investment vehicles of RTW Investments, LP (the "Investment Manager"), confirms that it co-led the Series A financing round together with other investors.

Cargo is a privately held clinical stage biotech company developing the next generation of best-in-class chimeric antigen receptor T-cell (CAR T) therapies. Cargo is also developing a pipeline of next generation adoptive cell therapies for cancer using its proprietary cell engineering platform technologies. The proceeds from the financing round will be used to advance Cargo's autologous CD22 CAR T-cell therapy candidate, CRG-022, through a pivotal multi-centre Phase 2 trial in patients with large B-cell lymphoma (LBCL) whose disease has relapsed or is refractory to CD19 CAR T-cell therapy. Cargo also intends to advance its proprietary platform technologies and discovery-stage programs targeting other hematologic malignancies and solid tumours.

The Investment Manager continues to assess an attractive pipeline of potential investment opportunities and look forward to updating shareholders on progress in due course.

Roderick Wong, M.D., Managing Partner and Chief Investment Officer at the Investment Manager, said:

"We are delighted to co-lead Cargo's Series A financing round and to support its efforts to develop potentially best-in-class CAR T cell therapy. The addition of Cargo to RTW Venture Fund's portfolio further expands our focus on oncology, a sector with high unmet needs and significant potential to invest in innovative therapeutic modalities with transformative impacts." 

The full text of the announcement can be found on Cargo's website www.cargo-tx.com.

For Further Information

Buchanan                                                         +44 (0)20 7466 5107
Charles Ryland

Henry Wilson

George Beale

About RTW Venture Fund Limited:

RTW Venture Fund Limited (LSE: RTW & RTWG) is an investment company 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 Limited 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 healthcare-focused entrepreneurial 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.

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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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