LEI: 549300Q7EXQQH6KF7Z84

19 August 2025

RTW Biotech Opportunities Ltd

Strategic Funding Agreement with Aquestive

RTW Biotech Opportunities Ltd ("RTW Bio"), the 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 Aquestive Therapeutics ("Aquestive", NASDAQ: AQST) of a $75 million strategic funding agreement with funds managed by RTW Investments, LP ("RTW"). RTW Bio participated in this investment through its commitment to the RTW-managed 4010 Royalty Fund.

The financing will support Aquestive to bring Anaphylm™ (epinephrine) Sublingual Film to market. Anaphylm is the first and only orally delivered film using Aquestive's novel prodrug of epinephrine in clinical development that has the same target indication as that for epinephrine injection in the emergency treatment of Type 1 allergic reactions, including anaphylaxis. The transaction is subject to U.S. FDA approval of Anaphylm.

Aquestive is a pharmaceutical company advancing medicines to bring meaningful improvement to patients' lives through innovative science and delivery technologies. Aquestive already has four commercial products on the market. It develops orally administered products to deliver complex molecules, providing novel alternatives to invasive and inconvenient standard of care therapies.

Rod Wong, CIO of RTW Investments, said, "We are excited to support Aquestive, and this investment reflects our belief in the commercial prospects of Anaphylm as a rescue treatment for patients experiencing a severe allergic reaction, including anaphylaxis. We remain committed to helping life science companies bring meaningful innovations, like Anaphylm, to patients, caregivers, and healthcare providers through a variety of financing solutions."

Aquestive's announcement can be found here.

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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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