LEI: 549300Q7EXQQH6KF7Z84

17 July 2025

RTW Biotech Opportunities Ltd

Update on Kailera Therapeutics

RTW Biotech Opportunities Ltd (the "Company"), the London Stock Exchange-listed investment company focused on identifying transformative assets with high growth potential across the life sciences sector, notes the recent announcement from private portfolio company Kailera Therapeutics ("Kailera").

Kailera is a clinical-stage biopharmaceutical company advancing a broad pipeline of next-generation therapies for the treatment of obesity. Its lead product candidate, KAI-9531 (HRS9531 in China), is a novel dual GLP-1/GIP receptor agonist administered via once-weekly subcutaneous injection. As at 30 June, Kailera represented 5.0% of NAV.

On 15 July, Kailera and its partner, Hengrui Pharma, announced positive topline data from the China Phase 3 clinical trial of HRS9531 in individuals living with obesity or overweight. The trial met both primary endpoints, demonstrating superior weight loss and a greater percentage of participants achieving at least 5% body weight reduction compared to placebo. The safety profile was favourable and consistent with other GLP-1-based treatments, with most treatment-emergent adverse events being mild to moderate and gastrointestinal-related.

Hengrui Pharma plans to submit a New Drug Application (NDA) for chronic weight management in China. Kailera is advancing KAI-9531 to global clinical trials.

Kailera's announcement can be found here.

Rod Wong, CIO of RTW Investments, said, "We are excited to see the results of Kailera's lead product, KAI9531, in the China Phase 3 obesity study, which marks a significant milestone in its development. The strong efficacy and favourable safety profile observed in the Chinese population underscore its potential to become a transformative treatment for millions of people living with obesity and related cardiometabolic conditions. With the prevalence of obesity continuing to rise, we believe Kailera is well positioned to bring this product to global markets. Together with Corxel's once-daily oral GLP-1 drug candidate, our portfolio reflects a strategic commitment to delivering both injectable and oral solutions that can meet diverse patient needs and reshape the future of obesity care."

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About RTW Biotech Opportunities Ltd:

RTW Biotech Opportunities Ltd (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 Biotech Opportunities Ltd invests in companies developing next-generation therapies and technologies that can significantly improve patients' lives. RTW Biotech Opportunities Ltd 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 website at www.rtwfunds.com/rtw-biotech-opportunities-ltd 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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