<div id="readability-page-1"><div>(Alliance News) - RTW Biotech Opportunities Ltd on Monday noted that Swiss pharmaceutical major Novartis AG has definitively agreed to buy portfolio company Avidity Biosciences Inc.RTW, a Guernsey-based investor in the life sciences sector, said Avidity stockholders will receive USD72 per share in cash upon the deal's closing. This represents an approximate 46% premium to Avidity's USD49.15 per share closing price on Friday, and values the California-based clinical-stage biotechnology firm at around USD12 billion.Shares in RTW were 3.3% higher at USD1.76 each on Monday morning in London.RTW said Avidity, which is developing RNA therapeutics for rare muscle diseases, represents 7.0% of its net asset value and is RTW's third-biggest holding. It expects Avidity's subsidiary SpinCo to begin trading as a new public company, following its spin-off as part of the deal.Basel, Switzerland-based pharmaceutical company Novartis announced on Sunday that it had agreed to purchase Avidity.&#34;Avidity was the first to achieve targeted RNA delivery into muscle tissue and is expanding its pipeline into cardiology and immunology,&#34; RTW noted.It explained that before the acquisition closes, Avidity will transfer to SpinCo, with Avidity shareholders receiving one SpinCo share per ten Avidity shares, and/or cash from Avidity's proceeds &#34;if certain SpinCo assets are, or SpinCo itself is, sold to a third party&#34;.&#34;Avidity's acquisition by Novartis represents a successful conclusion to a relationship begun when RTW led Avidity's crossover financing round in 2019, ahead of its 2020 [initial public offering],&#34; commented RTW's Chief Investment Officer Rod Wong. &#34;This transaction marks the fifth take-out from RTW Bio's portfolio announced since 30 June, following deals for Verona, Alcyone, Merus, and Akero. Each acquisition reflects strong conviction in differentiated science and late-stage clinical potential.&#34;Novartis's acquisition of Avidity underscores the strategic value of RNA therapeutics in neuromuscular disease and the urgency among large pharma to secure assets that can drive growth beyond upcoming patent expiries.&#34;By Emma Curzon, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2025 Alliance News Ltd. All Rights Reserved.</div></div>

RTW Biotech Opportunities Ltd has noted Novartis AG's agreement to acquire Avidity Biosciences Inc for USD72 per share, a 46% premium over Avidity's recent closing price, valuing the company at approximately USD12 billion. RTW, which holds 7% of Avidity's net asset value, anticipates Avidity's subsidiary SpinCo will begin trading post-acquisition. This marks RTW's fifth portfolio exit since June 30, highlighting the strategic importance of RNA therapeutics in the pharmaceutical sector.

RTW Biotech hails Novartis acquisition of investee Avidity