RTW Venture Fund (RTW), an investment company focused on identifying assets with high growth potential across the life sciences sector, noted the announcement by portfolio company, C4 Therapeutics, on 1 October of its pricing of a $182.4m IPO and admission to trading on the Nasdaq.
‘Robust pipeline in oncology’
C4T is a US‐based biotech company, described by RTW as pioneering a new class of small molecule drugs that selectively destroy disease‐causing proteins via degradation using the innate machinery of the cell. RTW notes that C4T has a robust pre‐clinical pipeline in oncology and is expecting to file its first investigational new drug application (IND) by the end of 2020, with the goal of bringing four drug candidates into clinical trials by the end of 2022.
Stephanie Sirota, chief business officer of RTW’s manager, noted: “We are pleased with C4T’s successful IPO and look forward to remaining a reliable partner to the company post‐IPO in its efforts to bring best‐in‐class targeted protein degradation‐based therapies for patients in need.
RTW is a full life cycle investor ranging from incubation of new companies, mid‐stage venture to pre‐IPO and public markets investing. As a specialist investor focused on disruptive innovations in biotech and medical technologies, we have a view into the most promising ideas from our research‐led internal idea generation process. We are excited to see now five of our portfolio companies successfully IPO this year.”
RTW: RTW Venture’s C4 Therapeutics IPO raises $182m