Portfolio Company Update: GH Research IPO

LEI: 549300Q7EXQQH6KF7Z84

28 June 2021

RTW Venture Fund Limited

Portfolio Company Update: GH Research IPO

GH Research Prices $160 Million IPO

RTW Venture Fund Limited (the "Company"), a London Stock Exchange-listed investment company focused on identifying transformative assets with high growth potential across the biopharmaceutical and medical technology sectors, is pleased to note the 24 June 2021 announcement by one of its portfolio companies, GH Research PLC ("GH Research") regarding its pricing of a $160 million initial public offering ("IPO") and admission to trade on Nasdaq Global Market under ticker "GHRS".

GH Research is a clinical-stage biopharmaceutical company developing novel medicines utilizing 5-Methoxy-N,N-Dimethyltryptamine ("5-MeO-DMT"), a psychoactive substance from the tryptamine class, for the management of mental diseases. The lead product candidate, GH001, is an innovative drug product for 5-MeO-DMT administration via a proprietary inhalation approach and is currently in Phase 1/2 clinical trial for Treatment-Resistant Depression (TRD).

Prior to IPO, the Company together with other funds managed by RTW Investments, LP (the "Investment Manager") co-led GH Research's $125 million Series B financing round in April 2021.

GH Research's IPO raised $160 million by offering 10 million shares at $16.00 per share. On the first day of trading, GH Research's share price increased by 20.3% to close at $19.25 per share.

Gotham Makker, MD, Head of Strategic Investments at the Investment Manager, said:

"We are delighted with GH Research's successful IPO and look forward to supporting the company in its efforts to bring potentially transformative medicines to patients with treatment-resistant depression."

GH Research's IPO pricing announcement can be accessed on its website at: www.ghres.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 company 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.

***********

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.

***********

GH Research PLC Announces Pricing of Initial Public Offering

DUBLIN, June 24, 2021 /PRNewswire/ -- GH Research PLC, a clinical-stage biopharmaceutical company dedicated to transforming the treatment of psychiatric and neurological disorders, today announced the pricing of its initial public offering in the United States of 10,000,000 ordinary shares at an initial public offering price of $16 per share for total gross proceeds of approximately $160 million. All of the ordinary shares are being offered by GH Research PLC. The ordinary shares are expected to begin trading on the Nasdaq Global Market on June 25, 2021 under the ticker symbol "GHRS."  The offering is expected to close on June 29, 2021, subject to customary closing conditions. In addition, GH Research PLC has granted the underwriters a 30-day option to purchase up to an additional 1,499,999 ordinary shares at the initial public offering price, less underwriting discounts and commissions.

Cowen and Stifel are acting as joint book-running managers for the offering. Canaccord Genuity and JMP Securities are acting as lead managers for the offering.

A registration statement relating to these securities became effective on June 24, 2021. The offering will be made only by means of a prospectus. When available, copies of the final prospectus related to the offering can be obtained from any of the joint book-running managers for the offering: Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (833) 297-2926 or by email at [email protected]; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at [email protected]. For the avoidance of doubt, such prospectus will not constitute a "prospectus" for the purposes of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and will not have been reviewed by any competent authority in any European Union member state or the United Kingdom.

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the "SEC"). Copies of the registration statement can be accessed through the SEC's website at www.sec.gov. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

In any member state of the European Economic Area (the "EEA") this announcement and any offering are only addressed to and directed at persons who are "qualified investors" ("Qualified Investors") within the meaning of the Prospectus Regulation. In the United Kingdom, this announcement and any offering are only addressed to and directed at Qualified Investors (i) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or (ii) who fall within Article 49(2)(a) to (d) of the Order, and (iii) to whom it may otherwise lawfully be communicated (all such persons being referred to as "Relevant Persons").

This announcement must not be acted on or relied on (i) in the United Kingdom, by persons who are not Relevant Persons, and (ii) in any member state of the EEA, by persons who are not Qualified Investors. Any investment or investment activity to which this announcement relates is available only to and will only be engaged with (i) in the United Kingdom, Relevant Persons, and (ii) in any member state of the EEA, Qualified Investors.

Contact:
[email protected] 

About GH Research PLC  

GH Research PLC is a clinical-stage biopharmaceutical company dedicated to transforming the treatment of psychiatric and neurological disorders. GH Research PLC's initial focus is on developing its novel and proprietary 5-MeO-DMT therapies for the treatment of patients with Treatment-Resistant Depression.

Forward-Looking Statements

This press release contains certain forward-looking statements, including statements with regard to GH Research PLC's expectations regarding the commencement of trading of ADSs on the Nasdaq Global Select Market and the completion of the proposed securities offering. Words such as "anticipates," "believes," "expects," "intends," "projects," "anticipates," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the proposed securities offering discussed above will be consummated on the terms described or at all. Completion of the proposed offering and the terms thereof are subject to numerous factors, many of which are beyond the control of GH Research PLC, including, without limitation, market conditions, failure of customary closing conditions and the risk factors and other matters set forth in GH Research PLC's filings with the SEC. GH Research PLC undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Logo - https://mma.prnewswire.com/media/1338139/GH_Research_Logo.jpg

SOURCE GH Research PLC

Related Links

https://www.ghres.com/