RTW Investments logo

RTW Investments

North America, New York, United States, New York

Description

RTW Investments is a prominent New York-based investment firm specializing in the global healthcare sector, with a particular emphasis on life sciences. Founded with a mission to identify and support companies developing transformative medical innovations, RTW employs a unique dual strategy, investing across both private and public markets. This integrated approach allows them to support companies from their early-to-mid private stages, through to their public market debut and beyond, providing long-term capital and strategic guidance. Their investment philosophy is deeply rooted in scientific and medical expertise, enabling them to conduct rigorous due diligence on complex biotechnological and pharmaceutical advancements.

The firm is known for its high-convection investments in companies that are pioneering novel therapies, diagnostics, and medical technologies. RTW typically engages with private companies from Series A rounds onwards, often taking a lead or co-lead position in significant financing rounds. Their portfolio reflects a strong focus on areas such as oncology, rare diseases, neuroscience, and genetic medicines, where substantial capital is often required for research, development, and clinical trials. They are not merely financial investors but aim to be active partners, leveraging their extensive network and industry insights to help accelerate the growth and success of their portfolio companies.

With approximately $5.4 billion in regulatory assets under management as of Q1 2024, RTW Investments has the capacity to deploy significant capital into promising healthcare ventures. For instance, they have notably led or participated in numerous large financing rounds, such as a $100 million Series B for ReNAgade Therapeutics in 2023, demonstrating their commitment to funding substantial scientific endeavors. While precise first check sizes can vary, their typical private equity investments reflect the capital-intensive nature of the biotech industry, often ranging from multi-million dollar commitments in Series A rounds to substantial nine-figure investments in later-stage or pre-IPO financings.

RTW Investments has established itself as a key financial partner in the healthcare ecosystem, recognized for its ability to identify and nurture companies with the potential to significantly impact patient care. Their blend of scientific acumen, flexible investment mandates, and substantial capital resources positions them as a critical enabler for the next generation of healthcare breakthroughs, from early-stage innovation to global market leadership.

Investor Profile

RTW Investments has backed more than 119 startups, with 21 new investments in the last 12 months alone. The firm has led 32 rounds, about 27% of its total and boasts 54 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Post Ipo Equity, Series B, Series C rounds (top funding stages).
  • Majority of deals are located in United States, United Kingdom, Switzerland.
  • Strong thematic focus on Biotechnology, Health Care, Therapeutics.
  • Led 5 rounds in the past year.
  • Typical check size: $25M – $150M.

Stage Focus

  • Post Ipo Equity (33%)
  • Series B (27%)
  • Series C (15%)
  • Series A (10%)
  • Series D (8%)
  • Private Equity (3%)
  • Series G (1%)
  • Post Ipo Debt (1%)
  • Series Unknown (1%)
  • Undisclosed (1%)

Country Focus

  • United States (79%)
  • United Kingdom (5%)
  • Switzerland (4%)
  • China (3%)
  • Canada (3%)
  • Ireland (2%)
  • Germany (2%)
  • The Netherlands (1%)

Industry Focus

  • Biotechnology
  • Health Care
  • Therapeutics
  • Medical
  • Pharmaceutical
  • Life Science
  • Biopharma
  • Medical Device
  • Genetics
  • Health Diagnostics
circle-line
FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does RTW Investments frequently co-invest with?

OrbiMed
North America, New York, United States, New York
Co-Investments: 16
Surveyor Capital
North America, Illinois, United States, Chicago
Co-Investments: 15
CA
North America, Massachusetts, United States, Boston
Co-Investments: 21
Venrock Healthcare Capital Partners
North America, California, United States, Palo Alto
Co-Investments: 20
RA Capital Management
North America, Massachusetts, United States, Boston
Co-Investments: 25
Deep Track Capital
North America, Connecticut, United States, Greenwich
Co-Investments: 14
Perceptive Advisors
North America, New York, United States, New York
Co-Investments: 33
Logos Capital
North America, California, United States, San Francisco
Co-Investments: 17
Janus Henderson Investors
Europe, England, United Kingdom, London
Co-Investments: 21
Boxer Capital
North America, Florida, United States, Windermere
Co-Investments: 18

Which angels does RTW Investments often collaborate with?

SK
North America, California, United States, Los Angeles
Shared Deals: 1
RK
North America, California, United States, Los Angeles
Shared Deals: 1
CG
North America, Massachusetts, United States, Boston
Shared Deals: 1

What are some of recent deals done by RTW Investments?

Inmagene Biopharmaceuticals

San Diego, California, United States

Inmagene is a clinical-stage biotech company developing innovative and differentiated therapies for immunological and inflammatory diseases.

BiopharmaBiotechnologyHealth Care
Post Ipo EquityJul 28, 2025
Amount Raised: $75,000,000
Crescent Biopharma

Rockville, Maryland, United States

Crescent Biopharma is a biotechnology firm focused on developing novel precision-engineered medicines.

BiotechnologyHealth CareMedical Device
Post Ipo EquityJun 16, 2025
Amount Raised: $200,000,000
CytomX Therapeutics

South San Francisco, California, United States

CytomX Therapeutics is a biotechnology company that focuses on developing proteolytically-activated antibodies.

BiotechnologyHealth CarePharmaceuticalTherapeutics
Post Ipo EquityMay 12, 2025
Amount Raised: $100,000,000
Verastem Oncology

Needham, Massachusetts, United States

Verastem is a biopharmaceutical company developing new medicines to improve the lives of patients with RAS/MAPK pathway-driven cancers.

BiopharmaBiotechnologyPharmaceutical
Post Ipo EquityApr 25, 2025
Amount Raised: $75,000,000
AIRNA

Cambridge, Massachusetts, United States

AIRNA develops RNA editing technologies to create medicines for various diseases.

BiotechnologyHealth CareMedical
Series BApr 1, 2025
Amount Raised: $155,000,000
Tenax Therapeutics

Chapel Hill, North Carolina, United States

Tenax Therapeutics focuses on identifying and developing treatments that address cardiovascular and pulmonary diseases.

BiotechnologyHealth CareTherapeutics
Post Ipo EquityMar 5, 2025
Amount Raised: $25,000,000
Allurion Technologies

Wellesley, Massachusetts, United States

Allurion Technologies develops a medical device for weight loss that can be delivered and removed without surgery or endoscopy.

Health CareMedical DeviceTherapeutics
Post Ipo EquityJan 14, 2025
Amount Raised: $2,500,000
Umoja Biopharma

Seattle, Washington, United States

Umoja Biopharma is a biopharmaceutical company developing next-generation immunotherapies intended to combat cancer.

BiopharmaBiotechnologyDeveloper Platform
Series CJan 14, 2025
Amount Raised: $100,000,000
Windward Bio

Basel, Basel-Stadt, Switzerland

Windward Bio develops monoclonal antibodies for advanced immunological diseases.

BiotechnologyLife ScienceMedical
Series AJan 10, 2025
Amount Raised: $200,000,000
Numab

Wadenswil, Zurich, Switzerland

Numab is a biotechnology company that offers antibody-based therapeutics for the treatment of severe diseases.

BiopharmaBiotechnologyHealth CareHealth DiagnosticsLife ScienceMedicalTherapeutics
Series CJan 9, 2025
Amount Raised: $54,939,501