LEI: 549300Q7EXQQH6KF7Z84

26 June 2026                                                                                                    

RTW Biotech Opportunities Ltd

Additional investment in Lycia Therapeutics

·      $75 million financing to advance clinical studies in food allergy and Graves' disease

·      RTW Bio invested $1.4 million as part of the Series D

·      As at 31 May 2026, Lycia represented 0.6% of the Company's NAV

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, is pleased to note an additional investment in the $75 million Series D financing of private portfolio company Lycia Therapeutics ("Lycia"). Lycia is a clinical-stage biotechnology company focused on the discovery and development of novel therapeutics designed to degrade disease-causing extracellular proteins, with an initial focus on addressing autoimmune, inflammatory and allergic diseases.

RTW Bio first invested in Lycia's Series B in September 2021, participated again in the Series C in April 2024, and has now invested a further $1.4 million as part of this financing.

Lycia's lead programmes target diseases driven by proteins circulating in the blood. LCA-0061 is designed to clear IgE, an antibody that triggers allergic reactions in conditions like food allergy. LCA-0321 targets the specific autoantibodies responsible for Graves' disease, a thyroid condition caused by the immune system attacking the body. Both use Lycia's proprietary LYTAC platform, which is engineered to eliminate disease-causing proteins that conventional drugs cannot reach.

As at 31 May 2026, Lycia represented 0.6% of the Company's NAV.

Rod Wong, CIO of RTW Investments, said, "We've backed Lycia since 2021 because the biology is genuinely differentiated. Most drugs can't touch proteins outside the cell, and Lycia's platform can. This Series D reflects growing conviction in the science and the team and positions Lycia well to advance its pipeline to clinical proof of concept. We look forward to continuing to support the team as they move into this exciting next chapter."

The announcement can be found here.

Enquiries:

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.rtwbio.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.