LONDON: RTW Biotech Opportunities Ltd , the London Stock Exchange-listed investment company focused on identifying transformative assets with high growth potential across the life sciences sector, announcement by one of its portfolio companies, Jade Biosciences (“Jade”), of the closing of its merger with Aerovate Therapeutics (“Aerovate”).
The combined company will operate as “Jade Biosciences, Inc.” and will trade on Nasdaq under the ticker symbol “JBIO”.
Jade is a private biotechnology company focused on developing potentially best-in-class therapies for autoimmune diseases. Lead candidate JADE-001 is on track to enter the clinic in the second half of 2025, with initial data expected in the first half of 2026. JADE-001 is an investigational anti-A PRoliferation-Inducing Ligand (APRIL) monoclonal antibody for the treatment of Immunoglobulin A nephropathy (IgAN), an autoimmune condition that damages the kidneys and potentially progresses to end-stage kidney disease requiring dialysis or transplantation.
The Company first invested in Jade’s seed round in August 2024. As at 31 March 2025, Jade represented 0.6% of NAV.
Rod Wong, CIO of RTW Investments, said, “The merger of Jade and Aerovate demonstrates that compelling portfolio activity continues despite elevated market volatility. Jade Biosciences will be well positioned to advance JADE-001 into clinical trials this year, making meaningful progress to combat autoimmune diseases.”