Portfolio Company Update: Landos IPO

LEI: 549300Q7EXQQH6KF7Z84

05 February 2021

RTW Venture Fund Limited

Portfolio Company Update: Landos IPO

Landos Prices $100 Million IPO

RTW Venture Fund Limited (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 the announcement by its portfolio company Landos Biopharma, Inc. ("Landos") on 03 February 2021 of its pricing of a $100 million initial public offering ("IPO") and admission to trade on Nasdaq Global Market under ticker "LABP".

Landos is a clinical-stage biopharmaceutical company focused on the discovery and development of novel oral therapeutics for patients with autoimmune diseases. The lead asset BT-11 is a novel, oral, gut-restricted therapeutic candidate for the treatment of ulcerative colitis and Crohn's disease that targets the LANCL2 pathway.

Prior to IPO, the Company together with other funds managed by RTW Investments, LP (the "Investment Manager") co-led a $60 million Series B financing round in Landos in August 2019. Landos was one of the seed assets included in the Company's portfolio at the time of launch in October 2019.

Landos' IPO raised a $100 million by offering 6,250,000 shares at $16.00 per share.

Stephanie Sirota, Chief Business Officer of the Investment Manager and Director of the Company, said:

"We are pleased with Landos successfully going public via an IPO and look forward to remaining a reliable partner to the company post-IPO in its efforts to bring novel oral small molecule therapeutics for patients with autoimmune diseases."

Full text of Landos' IPO pricing announcement is contained below.  

For Further Information

RTW Investments, LP                                     +1 (646) 343 9280
Stephanie Sirota, Chief Business Officer
Alexandra Taracanova, PhD, Director of Investor Relations

Julia Enright, Senior Business Development Associate

Buchanan                                                          +44 (0)20 7466 5107
Charles Ryland

Henry Wilson

About RTW Venture Fund Limited:

RTW Venture Fund Limited (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 Venture Fund 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.

Landos Biopharma Announces Pricing of Initial Public Offering

February 03, 2021 20:13 ET | Source: Landos Biopharma, Inc.

BLACKSBURG, Va., Feb. 03, 2021 (GLOBE NEWSWIRE) -- Landos Biopharma, a clinical-stage biopharmaceutical company focused on the discovery and development of therapeutics for patients with autoimmune diseases, today announced the pricing of its initial public offering of 6,250,000 shares of common stock at the public offering price of $16.00 per share, for total gross proceeds of $100 million, before deducting underwriting discounts and commissions and offering expenses payable by Landos Biopharma. All of the shares of the common stock are being offered by Landos Biopharma.

The shares are expected to begin trading on the Nasdaq Global Select Market on February 4, 2021 under the trading symbol of "LABP." The offering is expected to close on February 8, 2021, subject to customary closing conditions. In addition, Landos Biopharma has granted the underwriters a 30-day option to purchase up to an additional 937,500 shares of its common stock at the initial public offering price less the underwriting discounts and commissions.

J.P. Morgan, Jefferies and SVB Leerink are acting as joint book-running mangers for the offering. Raymond James is acting as lead manager for the offering.

A registration statement relating to the securities being sold in the offering was declared effective by the Securities and Exchange Commission on February 3, 2021. This offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained, when available, by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone: +1 (866) 803-9204, or by emailing [email protected]; Jefferies, LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022 or by emailing [email protected]; and SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, Massachusetts 02120, telephone: 1-800-808-7525, ext. 6105, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the security laws of such state or jurisdiction.

About Landos Biopharma

Landos Biopharma is a clinical-stage biopharmaceutical company focused on the discovery and development of oral therapeutics for patients with autoimmune diseases that are the first to target new mechanisms of action, including the LANCL2, NLRX1 and PLXDC2 immunometabolic pathways. Landos Biopharma's core expertise is in the development of therapeutic candidates targeting novel pathways at the interface of immunity and metabolism. Lead asset BT-11 is a novel, oral, gut-restricted small molecule therapeutic candidate for the treatment of ulcerative colitis and Crohn's disease that targets the LANCL2 pathway. NX-13 is a novel, oral, gut-restricted compound for the treatment of inflammatory bowel disease, which targets the NLRX1 pathway. Additional candidates are in development for the treatment of lupus nephritis, rheumatoid arthritis, multiple sclerosis, and diabetes.

Contacts:
Thomas Hoffmann (investors)
Solebury Trout
646-378-2931
[email protected]

Hannah Gendel (media)
Solebury Trout
646-378-2943
[email protected]