RTW Biotech Opportunities Ltd said on Friday said it is participating in a €65 million Series A financing round for Alesta Therapeutics BV, a Leiden, Netherlands-based biotechnology company focused on developing novel oral therapies for rare diseases with unmet medical needs.

RTW Biotech, an investment fund managed by RTW Investments LP that specialises in the life sciences sector, said the funding will enable Alesta to advance its lead candidate, ALE1, toward clinical proof of concept.

ALE1 is being developed to treat hypophosphatasia, a rare genetic disorder. Alesta will also accelerate the development of ALE2, a treatment for Charcot-Marie-Tooth disease, a hereditary neurological disorder.

Chief Information Officer Roderick Wong said: ‘We are thrilled to participate in Alesta’s Series A round. The innovative approach and compelling preclinical data for ALE1 demonstrate significant potential to address critical unmet needs in rare diseases.’

Shares in RTW Biotech were up 0.7% at $1.40 in London on Friday afternoon.

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