LEI: 549300Q7EXQQH6KF7Z84

01 March 2023

RTW Venture Fund Limited

New Investment in Oricell Therapeutics

RTW Co-leads $45 Million Series B-1 Round in Oricell

·      RTW Venture Fund Limited announces a new portfolio company, Oricell Therapeutics Co., Ltd.

·      The proceeds from the Series B-1 financing round are intended to support Oricell's core product clinical development in the U.S.

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 Oricell Therapeutics Co., Ltd ("Oricell") on 28 February 2023 regarding the completion of its $45M Series B-1 financing round.

The Company, alongside other investment vehicles of RTW Investments, LP (the "Investment Manager"), confirms that it co-led participation in the Series B-1 financing round together with other investors.

Oricell is a China-based innovative pharmaceutical company committed to the development of tumour cellular immunotherapeutics. The proceeds from this financing round will primarily be used to support Oricell's core product clinical development in the U.S., specifically OriCAR-017, a GPRC5D CAR-T therapeutic that treats relapsed and refractory multiple myeloma (RRMM), which is currently at the IND enabling stage in both the US and China.

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

"We are pleased to have established a partnership with Oricell through an initial investment in its Series B-1 financing. We look forward to supporting the company and its team as they continue to develop potentially world class therapies for cancer patients across the world, whilst creating value for the scientific community and its shareholders."

The Investment Manager is looking forward to growing the Company's investment pipeline and updating shareholders on further investments in due course.

The full text of the announcement can be found on Oricell's website at www.oricell.com/en/about/news/.

For Further Information

RTW Investments, LP                                         +44 (0)20 7959 6361
Woody Stileman, Managing Director

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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