New Investment in Visus Therapeutics

LEI: 549300Q7EXQQH6KF7Z84

09 March 2021

RTW Venture Fund Limited

New Investment in Visus Therapeutics

RTW Participates in $36 Million Financing Round in Visus Therapeutics

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 Visus Therapeutics, Inc. ("Visus") on 09 March 2021 of its completion of a $36 million Series A financing round.

The Company, alongside other investment vehicles of RTW Investments, LP (the "Investment Manager"), confirms that it participated in the financing round together with other investment firms.

Visus is a privately held clinical-stage pharmaceutical company developing presbyopia-correcting eye drops. Visus plans to use the proceeds from the financing round to advance the clinical development program for its lead asset, BRIMOCHOL™, an investigational drug designed to be a once-daily eye drop correcting for the loss of near vision associated with presbyopia.

Tony Nguyen, Managing Director at the Investment Manager, will join Visus' board of directors.

Mr. Nguyen said: "Visus' differentiated therapeutic approach to presbyopia treatment has the potential to be a significant step forward in this emerging category. We look forward to supporting the Visus team as they advance its clinical development program for BRIMOCHOL."  

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

Visus' announcement can be accessed on its website at: www.visustx.com, the full text of which 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

George Beale

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.

VISUS THERAPEUTICS ANNOUNCES $36 MILLION SERIES A FINANCING TO ADVANCE DEVELOPMENT OF NOVEL PRESBYOPIA-CORRECTING EYE DROP 

·      Johnson & Johnson Innovation - JJDC, Inc., RTW Investments, LP, and Wille AG participated in the financing round

·      Funding will help advance lead product candidate BRIMOCHOL into pivotal registration studies

SEATTLE - March 9, 2021 - Visus Therapeutics Inc. (the "Company"), a clinical-stage pharmaceutical company in pursuit of developing the world's first presbyopia-correcting eye drop with the potential to last a minimum of eight hours, today announced the close of a $36 million Series A Preferred Stock financing. Johnson & Johnson Innovation - JJDC, Inc. (JJDC), RTW Investments, LP, and Wille AG participated in the round, with additional participation from the Company's existing shareholders. Proceeds from the Series A financing will be used to advance the clinical development program for the company's lead asset, BRIMOCHOL™, an investigational drug designed to be a once-daily eye drop to correct for the loss of near vision associated with presbyopia.

"We are committed to delivering on the promise of introducing a transformative solution to the current treatment landscape for presbyopia," said Ben Bergo, co-founder and chief executive officer of Visus.  "Through our Series A financing and partnership with seasoned health care investors, Visus is well positioned to rapidly progress our clinical development program for BRIMOCHOL."

"Visus' experienced leadership team has a successful track record of eye care drug development. This gives us great confidence that the Visus team can develop therapies that will make a life-changing difference for people living with presbyopia," said Tony Nguyen, managing director at RTW Investments, LP, who has been appointed to Visus' board of directors. "Visus' differentiated therapeutic approach to presbyopia treatment has the potential to be a significant step forward in this emerging category. We look forward to supporting the Visus team as they advance the clinical development program for BRIMOCHOL."

About Presbyopia

Presbyopia is the loss of near vision associated with aging, making it difficult to perform tasks like reading fine print. It typically begins when adults are in their 40s, and becomes almost universal by age 50.[i] Presbyopia impacts billions of people globally with approximately 123 million adults affected in the U.S. alone.[ii] Reading glasses are the most common solution for near-vision correction. However, many people often find glasses inconvenient and/or prefer not to wear them for aesthetic reasons. Currently, there are no FDA-approved medications for presbyopia.

About Visus Therapeutics

Visus Therapeutics is a clinical-stage company in pursuit of developing the world's first presbyopia-correcting eye drop with the potential to last a minimum of eight hours. With offices in Seattle and Orange County, Calif., its lead clinical candidate is BRIMOCHOL, an eye drop designed to correct the loss of near vision associated with presbyopia. In parallel, Visus Therapeutics is focused on advancing its pipeline of early-stage ophthalmic product candidates. For more information, visit: www.visustx.com and follow us on Twitter (@VisusTx) and on LinkedIn.