RTW is a listed investment company focused on advancing medical innovation in order to transform patients' lives. Established in October 2019, it has become the second-largest biotech fund in London after acquiring investment company peer Arix Bioscience at the start of 2024. The company's objective is long-term capital appreciation by forming, building, and supporting world-class biotech, biopharma, and med-tech companies.

In this interview, John Hughman speaks to Woody Stileman, Managing Director of Business Development at RTW Investments, manager of RTW, about its data-driven approach in identifying underappreciated investment opportunities across various modalities and therapeutic areas; its ‘full lifecycle’ strategy that involves investing in public equities, venture investing, royalties, and company creation; the advantages brought by its extensive global network, including relationships with entrepreneurs, scientists, and universities; and why, after a difficult few years for biotech investing, the managers are optimistic about the future of biotech investments, driven by continued innovation and potential recovery in the IPO market